Re: Lotteries
Rule number one of economics: "There is no such thing as a free lunch."
Money doesn't appear out of thin air. In the lottery it comes the players. The house will not pay out more than they receive (seriously, you're dealing with the government... wouldn't cutting taxes or something be a higher priority on the budget?). THINK about it... I almost feel stupider having to seriously answer this.
I'm not sure how to reconcile the odds they state with the size of the jackpot (I don't have enough information), but I can state with 99.9% certainty that playing state lotteries is not +EV.
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