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entirelyuseless comments on Burch's Law - Less Wrong
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Comments (27)
Purchasing lottery tickets is unlikely ever to be profitable, because when the jackpot increases in size to the point where it might be theoretically worthwhile to buy a ticket, so many people buy a ticket that the rules for having multiple winners come into play, which effectively reduces the jackpot significantly.
It's never a good idea.
I will also note that you can dream of yachts and diamonds just as easily, and as plausibly, by not buying a lottery ticket as by buying one. But it's slightly cheaper not to.
Never a good idea. Unless you win. Ask the recipient of $100m tax-free whether or not it was a good idea to buy a ticket.
I don't buy lottery tickets, but as much as the chance is so ridiculously small that you might as well burn the ticket as soon as you buy it, that doesn't stop people from winning.
Lottery income is most definitely taxed, although this likely makes little difference to your point.
In the UK it's tax free, anyway.
Ok. Not in the USA.