Re: Is Powerball Ever +EV with a high jackpot?
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"utility" to whom? The winner, or society as a whole (including the donators who made up the big pot)?
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The winner? If your point is the lottery is +EV for the person who wins, then I agree.
The lottery's utility is surely -EV for society as a whole, as well as each participant. An exception to this might occur for Bill Gates when the jackpot is very large. (By "the lottery" I'm referring only to the movement of money, not other things the lottery might fund. I still think it's -EV for society as a whole even when those things are factored in, but that is politics and I'm not a fan of arguing politics.)
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