|Posted: January 9, 2013, 3:36 pm - IP Logged|
The group will spend $1000 and win only $900. It means every game will make your close knit group of friends 10% poorer. After only 10 games the group is loosing $1000 dollars, while investing $10000 and recovering $9000. Not good at all. After 27 games ( they are required in this case so everyone can get $900 in his turn) group looses $2700 after investing, spending $27 000. Everyone will feel bad, because you are not playing with bunch of unknown strangers, who's pockets are the least of your concern, you are playing with people you know and you all loose as a group. 10 % loss will constantly haunt you, that is as big as 3 yearly inflation percentages. Any loss is bad.
This lottery does not offer profits. What it does is impoverishing the players as general group, and shifting the money from least fortunate, the most of them, to the winners.
Well, if tickets would cost 50 cents each, then things will work out. But, in this case they slash the win in half or more. No good either.