Tuesday, August 16, 2016

Lottery Jackpot Psychology

NYT: "The Billion-Dollar Jackpot: Engineered to Drain Your Wallet"
If you’ve noticed that colossal lottery winnings are becoming almost common this year, it’s no accident. Four of the 10 biggest jackpots in United States history have already occurred in 2016, an engineered outcome intended to generate mind-bogglingly big winners.

That’s thrilling if you are the rare winner of hundreds of millions of dollars. But whether it’s a good thing for scores of millions of other people who play government-sponsored lottery games is highly questionable, as a close look at the numbers reveals.