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Eugine Nier's avatar

A relevant data point is that most lottery winners end up blowing all their winnings within a couple of years and end up poorer than they were before.

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Wasserschweinchen's avatar

I think a simpler explanation is that people like excitement and that scratching a lottery ticket creates some excitement. Thus lotteries are no more mysterious than rollercoasters or scary movies or sports games or whatever. Of course, no one would say that paying for a rollercoaster ride is irrational simply because there is a 100% chance of losing your money.

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