Lotteries - regressive taxation of math underachievers
Gifting governments with money to fritter away.
Lotteries-A tax on stupid people
But we all "pay" for this as those who cannot afford to lose buy these tickets and predictably (see odds)lose and need more welfare support. And in NY, Cuomo uses tens of millions to produce and advertise for the lottery - total wasted expenditure from taxpayer coffers.
Lotteries: Redneck retirement plan.
This sort of thing is said a lot, but it takes no account of the “entertainment” and “enjoyment” aspects of buying lottery tickets. I don’t buy them myself, but if people get some flash of enjoyment from dreaming of big winnings etc., it belongs under the category of “entertainment budget” imho. It is not purely a rational calculation of winning payoffs, it is a form of self-indulgence like buying a movie ticket or buying an ice cream. Not how I generally choose to spend my money (that’s all money down the drain to me), but people get to choose their own forms of enjoyment within legal limits.
I had a boss that said stuff like that. Told him the odds were still infinitely better than getting rich working for him.
the odds of winning are 1:302 million and the payoff is greater than that so the bet is “in the money”... so it is a good bet...statistically speaking.
It’s an entertainment tax and even math overachievers like to be entertained!