Why do you gamble?

Reply #4

lchoro — Mon, 11 Jul 2005 17:30:01 GMT

Greed. The secondary prizes on MM and PB subsidize the jackpot with the astronomical probabilities. I believe the odds for winning with a 4-ball match in MM is about 70 times the prize value 10,000 dollars that you would win. They really don't compensate you for the risks. The average payout is around 55 percent of revenues, but the median payout per player has to be somewhere below 2 cents on the dollar bet since most of the lower prizes share this same characteristic.

Reply #3

LuvToWin616 — Mon, 11 Jul 2005 11:44:29 GMT

I luv the feel of winning

Reply #2

Litebets27 — Mon, 11 Jul 2005 11:32:54 GMT

Addicted to the fun , especially when I win.litebets

Reply #1

Rip Snorter — Mon, 11 Jul 2005 11:13:46 GMT

Sociologists, for example, believe that people play because of their social networks, with the lottery giving them something to talk about with their friends on a regular basis. Psychologists, on the other hand, say that playing the lottery is a response to feeling lucky or being in a good mood. Meanwhile, economists believe the lottery is about people wanting more money, but not understanding they have virtually no chance of actually winning.Those are my reasons.Jack

Why do you gamble?

fast eddie — Mon, 11 Jul 2005 03:47:02 GMT

Why do people gamble?: Not because they win, says Emily Oster '02 By Marcy Homer Special to the Gazette Have you ever purchased a lottery ticket thinking, Maybe this time the big winner will be me? Do you play the same lottery numbers every week because you believe that as soon as you change them, they are sure to be the winners? Emily Oster '02, became intrigued by these questions in her class on behavioral economics. A paper on the demographics of lottery behavior sparked Emily's interest in... [ More ]