A lottery is a better investment than other crap the poor often buy. Crack, TVs, xboxes, alcohol all have a EROI of 0. A lottery at least is >0 . Better would be if we sold partials of VT(I) in the store at lottery ticket prices. $2 for a near 0 chance at 1B, or $2 for a near 100% chance at $4 given enough time.
This is a sad truth that's a lot less flashy of a headline, so it's not surprising it's not covered. You're unlikely to see an article with the title: "People who buy stupid shit they don't need and can't afford shocked to find they are still broke".
Much easier to blame the lottery. Yes, poorer people like to buy lottery tickets. They want a chance to rise up and be rich, and there's really no other way most of them can ever do that.
Ask someone if they would sell their TV to buy lottery tickets. They'll say no, because a TV delivers lots of entertainment value.
Lotteries don't. Calling them entertainment is just an excuse for scamming money out of people. Calling them investment is just trying to confuse things.
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A lottery is a better investment than other crap the poor often buy. Crack, TVs, xboxes, alcohol all have a EROI of 0. A lottery at least is >0 . Better would be if we sold partials of VT(I) in the store at lottery ticket prices. $2 for a near 0 chance at 1B, or $2 for a near 100% chance at $4 given enough time.
This is a sad truth that's a lot less flashy of a headline, so it's not surprising it's not covered. You're unlikely to see an article with the title: "People who buy stupid shit they don't need and can't afford shocked to find they are still broke".
Much easier to blame the lottery. Yes, poorer people like to buy lottery tickets. They want a chance to rise up and be rich, and there's really no other way most of them can ever do that.
Then maybe lottery tickets are actually smart.
Ask someone if they would sell their TV to buy lottery tickets. They'll say no, because a TV delivers lots of entertainment value.
Lotteries don't. Calling them entertainment is just an excuse for scamming money out of people. Calling them investment is just trying to confuse things.