It’s a high-risk investment with a potentially high payoff. As other investments aren’t offering much security and return, it is rational that lottery sales would increase.
Additionally, with gas prices much lower, many people have extra money in their pocket and use it for impulse buying...magritte
40% loss in stocks, housing. 60%+ loss in working due to taxes. Junk lottery tickets don’t look that bad or irrational.
I used to work nights at a Mobile Station. I’d have regulars come in an spend $100 a night, every night. Working people, managers, retired. Sad.
I think in Massachusetts the pay out rate is around 40 percent. And if you win, they tax that, so the effective rate of return is around 20 percent.
Is there anything more crooked and evil than government?