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mattnewport comments on The Prediction Hierarchy - Less Wrong
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My grasp of statistics is atrocious, something I hope to improve this year with an open university maths course, so apologies if this is a dumb question:
Do the figures change if you take "playing the lottery" as over the whole of your lifespan? I mean, most of the people I know who play the lottery make a commitment to play regularly. Is the calculation affected in any meaningful way? At least the costs of playing the lottery weekly over say 20 years become much less trivial in appearance
If by 'do the figures change' you mean 'does it ever become a good bet' then no.