blueollie

Lottery: Tax on Those Who Don’t Know Math…

Americans have spent about 1.46 BILLION dollars in this last “mega-prize” lottery craze.

Americans are expected to spend $1.46 billion on Mega Millions lottery tickets. So how far does $1.46 billion go?

How much of the Los Angeles Dodgers would it buy? How many trips into space? How much would it shrink the federal budget gap?

With the money that’s been spent pursuing the record $640 million jackpot, you could:

— Feed 238,000 American families for a year.

— Buy a 73 percent share of the Los Angeles Dodgers, based on the $2 billion that Magic Johnson and other investors agreed to pay this week for the baseball franchise.

— Stock up on 228 tons of Beluga caviar.

— Trim this year’s expected $1.3 trillion federal deficit by just over one-tenth of 1 percent.[...]

Surf to the link to read more. But as to the chances of winning: well, here are 15 things MORE likely to happen….one of them is that you are more likely to die in a car accident than win the lottery…FAR more likely.

As reported in a Dilbert cartoon back in 1994:

Or as Rat says in Pearls Before Swine

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April 3, 2012 - Posted by | economy, humor, mathematics, social/political

3 Comments »

  1. Ollie, I understand your point about the lottery, in general, but if I’m not mistaken, with $640M on the line on Friday and the odds of winning at 176M:1, Friday’s draw was a positive sum game. Yes, it was based on lots of money lost under negative sum drawings, but in the short term, it wasn’t negative sum.

    Comment by Damon | April 3, 2012 | Reply

    • my point: you are far more likely to die on your trip to buy the lottery ticket than you are of winning. :)

      Comment by republicanfaithchat | April 3, 2012 | Reply

  2. [...] A few days ago I was ragging on those who started to “play the lottery”; I called it a “tax on those who can’t do math.” [...]

    Pingback by Lottery, Expected value, and all that…. « blueollie | April 5, 2012 | Reply


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