lottery

It Just Got Twice as Expensive to Be Poor and Stupid

I just read an article on Yahoo! that the price of Powerball tickets is set to double on January 15th.  As many have already discussed, including me, lottery tickets are a foolish investment that disproportionately affects the poor.  Your chances of winning are miniscule.  However, according the to article I read, the odds are getting …

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Mega Millions Lottery – Odds, NPV, Sucker bets, and Hope (Barack Obama)

Today’s drawing for the Mega Millions Lottery is for an estimated $220 million (or $134.6 for the cash option). The odds of winning are…well….low. I mean it is a lottery. The odds of picking all 5 balls plus the powerball are 1 in 175,711,536. As you can see at Durango Bill’s website, you’re more likely …

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