Re: Lotteries
Point 1: You don't know how likely it is you are going to end up splitting the prize with someone who has the same numbers as you do. This is even more likely when the prize pool is extremely large and everyone is queuing up with you to get their piece.
Point 2: The prize amount is paid out over several years (typically 20 or more). This greatly reduces the value of the payout (google "time value of money"). How much would you pay me now if I offered you a guaranteed $1000 dollars in 20 years? I'm guessing it's a lot less than $1000. Factor that into your equations, and things look a lot less lucrative.
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