2/ But with a return of $0.50 to $0.70 on the dollar, buying a lottery ticket as an investment is irrational at the outset.
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3/ So people obviously buy lottery tickets for some other non-monetary value--most likely, entertainment value.
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I'm not so sure.To me it is an indictment of people's lack of understanding of probability.if they realized immediate 2x
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Return on their money was such a significantly greater outcome than likely outcome, they would do it (and a few did).
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