Re: When does it pay to play (lottery)?

From: BillK (
Date: Sun Jan 23 2005 - 10:50:21 MST

On Sun, 23 Jan 2005 10:35:44 -0500, maru <> wrote:
> Well, the point still holds doesn't it?
> lottery= low chance * mediocre payout = low expected utility,
> AI = better but still too low chance of
> Ben/Eliezer/Someone-we've-never-heard-of succeeding and not killing us *
> ridicously high payoff = much higher expected utility than lottery.
> ~Maru

I suggest you tell people that you win 500 dollars a year on the
lottery. The way to do this is to pay your 10 dollars a week into a
savings account (or secure investment fund) instead of buying lottery
tickets. If you keep this up the money will accumulate quite quickly
(slowly at first but escalating) and after about 20 or 30 years the
annual interest will exceed the amount paid in (depending on your
investment return). After about 40 or 50 years you could probably
retire and live off the interest. Do the maths.

Compound interest is the secret of the universe! ;)


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