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Archive 1 |
I think the following link should be added in the External links section: probability.infarom.ro Lottery Mathematics. There are some general formulas covering all numeric lotteries regarding probabilities and number of prizes. —Preceding unsigned comment added by Infarom ( talk • contribs) 14:02, 14 March 2009 (UTC)
These should be removed. These people are not noteworthy other than being lucky and don't merit inclusion in an encylopedia. Seems like an attempt to enable people to solicit donations from the winner. I know the names are available on other Internet sites, but since Wikipedia comes up first in most Google searches and it's not the people who are important, but rather the event (the biggest winning jackpot) that is important I say remove the names 63.26.103.24 ( talk) 03:42, 10 August 2008 (UTC)eric
Are Canada's two "national lotteries" really "national"? Seems to me they are just run by associations of provincial lotteries, much like the state lottery associations (like Powerball) in the USA. Already the great majority of US population lives in Powerball states—if every state had a Powerball-associated lottery, would Powerball be a national lottery? To me the term "national" implies that is run by the federal government. (Which might be unconstitutional as things stand in the States.) NTK 18:30, 3 Feb 2005 (UTC)
Sure, to win a Powerball jackpot. But there other smaller jackpot games with much easier odds, like Cash 5 here in Pennsylvania. The odds are about 1 in 575,595, not good odds, but not "vanishingly small". For that reason I have to put the objectivity of this article in question.
Odds for Cash 5 in Virginia are 1 in 278,256.
The first line of the article seems to be very shallow. Well, though it ("lots") is the basic idea maybe the intro could be a bit more detailed. The word Lotto isn't explained in detail to differentiate it from the lottery ticket. I guess I could fill in the gaps but someone else can also help. Also do we need the list of countries with lotteries at the top? Can we introduce a section on wheeling systems and expand on it? I know something on wheeling but an expert hand on this would be good. Tx Idleguy 19:51, 22 October 2005 (UTC)
I agree, the initial definition is dire. The article badly needs to draw a distinction between a lottery (where zero prizes might conceivably be won) and a raffle (where all prizes are pre-designated and won, for example the UK's Premium Bonds, or the UK's EuroMillions Raffle) —Preceding unsigned comment added by 87.114.11.4 ( talk) 15:33, 20 January 2010 (UTC)
Any game which picks x amount of numbers from a to b is a lottery.
The difference between lotteries however, has to do with the payout amount for each.
For example, if you're running a lottery, you generally won't let people match any one number, because too many people will win.
The people who run the lotteries have the ability to shift up or down the level of prizes involved for each one, and they do it in their favor.
A top down lottery, is one in which the odds are made significantly difficult (some weeks no one wins) with six or seven numbers so that eventually one person will win a huge prize. One thing worth arguing over is that if you buy a $2 ticket you should expect some one to win a prize that week. Putting the money into the next weeks jackpot assumes that you will buy a ticket the next week, which is not always the case.
A bottom up lottery would be one in which most of the prizes are distributed to the bottom end of the lottery, with the remainder going to winners with more numbers. This system seems inherently more fair, although the prizes would not be as good. But in a draw where no one wins, do you really care how big the prizes are? At least more people would be satisfied.
LotteryOhYah 03:07, 24 October 2005 (UTC)
People being unsatisfied by the Lottery, prizes, and odds doesn't seem to stop them from playing. If you're not satisfied or if you think it's crooked, then the obvious answer is "DON'T PLAY!"; it's as simple as that, if you think about it, but people still play.
The $363m Mega Millions jackpot was actually bigger than the $365m Powerball Jackpot because of how the prizes are paid. Because of the structure of the annuities, Mega Millions annuities are worth about 55% of the advertised prize, but Powerball jackpots are worth about 46%. So the MM jackpot was about $30m bigger, in real dollars. 70.22.209.192 09:57, 24 February 2006 (UTC)
Yes. How much tax is taken in the US lotteries? Seems to be a significant issue. In Australia winning are tax free. (Greg)
To answer the question above (Greg), Lottery winnings in the US are considered "taxable income." In Virginia, if any one of your tickets is $5001 or higher it is taxed at a rate of 25% Federal and 4% State immediately. If your ticket is $5000 or less, a W2 form is issued that would be filed with the next tax return. With that said, 25% and 4% are the MINIMUM tax deductions. Since the prizes are taxable income, depending on what your income for the year is, you could owe more than the minimum. Someone making a grand total, salary plus lottery winnings, of $30,000 for the year is going to pay less in taxes than the person who made $250,000 for the year. However, taxes owed by Lottery winnings can be written off by submitting losing tickets to off-set the taxes owed. If you've won $5,000 for the year submit $5,000 worth in losing tickets, and you won't have to pay a dime. The money you put into the Lottery in Virginia is considered a donation, in a sense, because it is contributed to the K-12 Education Program.
I also offered one-of-a-kind links to free lottery software and systems. Moreover, I posted thorough but concise formulae to calculate lotto odds with the hypergeometric distribution probability. Such formulae are a must when it comes to an encyclopedic analysis of lottery.
Everything I posted was deleted shortly thereafter. Why?
My contributions showed absolutely unique theories. Not only that, but they have the most solid foundation: philosophical and mathematical. As Plato put it:
”Let no one enter here who is ignorant of mathematics”
Is it jealousy or does it represent a conflict of interest? Does the management at Wikipedia accept such behavior from editors who so easily delete original contributions?
Ion Saliu
This could do with a better scope. The Ancient Greeks chose some of their offices by lottery rather by election (this was seen as more democratic to avoid the effects of plutocracy). If you spend this much on your credit card you could in this prize, or submit your donation to the National Kidney Foundation or whatnot. Things like that. Not merely buying a lottery ticket. John Riemann Soong 00:22, 23 July 2006 (UTC)
It may not alway be irrational for someone to play in a lottery even though the expected winnings are much lower than the price of the ticket because of the utility of money. The loss of one dollar might have only a tiny impact on one's life, while gaining millions of dollars would have a huge impact. The difference in impact might be greater than the odds of winning. The article has a very negative POV towards those who play the lottery and this might add some neutality to the article. This is explored in H.W. Lewis' book "Why Flip a Coin?: The Art and Science of Good Decisions." I don't have the book handy so I don't feel like trying to include his thoughts to the article.
I would have put this in the Australian Lottery section except that the history of other lotteries are also in this section (eg NZ, France, so on) I know that there is a rich and interesting history of national lotteries and so on in Australia: for example the Sydney Opera House had a good deal of its' overflow paid for by lotteries, though I haven't references other than first hand comments from people who bought tickets. Can't find any information on all that in the wikipedia though, and don't know enough about it to add my own. Thisfox 00:26, 5 September 2006 (UTC)
I had heard a rumor that men win the lottery more than women - and no one knows why. But whats worse is that the margin was beyond scientific explanation.
Can anyone verify this?
71.201.95.224 15:26, 10 September 2006 (UTC)
Men play it more. There is no statistical reason why one sex would be more likely to win than other, unless they buy more tickets. Rob.derosa 06:36, 18 October 2006 (UTC)
Would you be better of buying 1 ticket every drawing or waiting and buy 100 tickets every 100 drawings? I'm guessing going big once in awhile is better. —The preceding unsigned comment was added by 209.206.165.13 ( talk) 08:57, 4 February 2007 (UTC).
I think this needs some images, if wanted, I could find some 6/49 tickets or Scratch 'N Win tickets and scan them to put on this site. —Preceding unsigned comment added by 24.129.239.143 ( talk) 03:29, 28 December 2007 (UTC)
I have checked a few style manuals and it seems that names of lotteries are not normally italicised. I'll do some clean up. Nurg ( talk) 03:59, 29 March 2008 (UTC)
There is an internet meme, stating that MOST Lottory winners lose their respective fortunes after a few years, due to lack of financial education, self-hype and over exuberance. IS there any relevant information about this phenomenon..? Procrastinating@ talk2me 17:53, 14 September 2008 (UTC)
What about adding a UK national lottery syndicate site to the external links section... nationallotterysyndicate.co.uk —Preceding unsigned comment added by Buckyuk uk ( talk • contribs) 09:01, 14 June 2009 (UTC)
The article currently contains a few passages of completely uncited economic arguments. All strongly say that playing lotto's a "bad economic choice", the only concession given is that players receive some value in the entertainment factor. Entirely based on long term averages and expected outcomes.
Nowhere is it mentioned that for most players (and non players for that matter), without lotto the chance that they'll one day be able to live very comfortably, extravagantly even, without having to work for their income is zero. With lotto, that's increased to one in several million. Yes, there's expected losses and on average you'd do much better investing in blue chip stocks, but those that value the chance that they'll one day be wealthy (people that may otherwise have slim chance of ever achieving wealth) more then the ticket price, it's a good economic decision. Even before you factor in the entertainment value. Themania ( talk) 09:38, 23 June 2009 (UTC)
There's a statement suppose one buys one lottery ticket per week. 13,983,816 weeks is roughly 269,000 years; In the quarter-million years of play, one would expect to win the jackpot only once. In fact the odds of winning the jackpot by entering once a week every week for 13,983,816 weeks is pretty much exactly 2/3, far from an uneqivocal expectation of winning. Fizzackerly ( talk) 22:18, 30 January 2010 (UTC)
{{
cite encyclopedia}}
: Missing or empty |title=
(
help)Here is a link I usually put in the external links sections. It is rather a semi-external link since it goes to Wikisource. I think it is of historical interest. Per the directive I found, I leave it here for another editor to put in the external links section if it seems worthwhile. Bob Burkhardt ( talk) 19:46, 3 February 2010 (UTC)
Lotteries are morally repugnant for a number of reasons: 1) they make people rich for doing nothing at all in societies where money is a life or death issue, 2) they prey on the poor and ill-informed who are unable to understand either the primary moral issue or the facts of probability as they concern the games, and 3) they encourage magical thinking generally in those who most need the opposite, especially about the nature of money, how to get and keep it, etc. There are reasons that while ancient they were generally outlawed in the west until 30 or 40 years ago. 72.228.177.92 ( talk) 02:32, 23 February 2010 (UTC)
Isn't it about time for a separate article on all the countries with national lotteries and respective details? Then this article can be more about the history and concept and the other about the countries. Do people agree? Any suggestions for a title, I've never started an article so am not really familiar with naming conventions, but would be happy to execute it. Joost 99 ( talk) 11:43, 26 July 2010 (UTC)
Should this not use the flag of each individual country, whilst Switzerland isn't part of the EU, the entire EU doesn't take part. // Fi nns 11:48, 21 November 2010 (UTC)
I just read the article looking for the negative impacts of a lotto and it took me a while, because there is so much going on in the article. I finally found it in the 'Probability of winning' section, but it seems like the article has either grown too large or is not organized well. While I know some people hate criticism sections, it seems clear that at least some of the content needs to be broken out into subsections or additional articles. M4bwav ( talk) 16:54, 9 December 2010 (UTC)
Most articles about federal taxes on lottery winnings tell you that 28% will be withheld from your gross winnings. If your winnings are over $1,000,000, you are better off to have 35% withheld. The reason is that 28% is not enough to cover the true tax liability and you could pay a penalty for underwithholding. The 35% rate is slightly more than the true tax liability, so you will receive a refund when you file.
Lottery lover — Preceding unsigned comment added by Lotto lover ( talk • contribs) 18:39, 27 March 2011 (UTC)
If you need sources for anything can someone please explain this paragraph, its the 3rd or 4th from the top?
The purchase of lottery tickets is, from the perspective of classical economics, irrational. However, in addition to the chance of winning, the ticket may enable some purchasers to experience a thrill and to indulge in a fantasy of becoming wealthy. If the entertainment value (or other non-monetary value) obtained by playing is high enough for a given individual, then the purchase of a lottery ticket could represent a gain in overall utility. In such a case, the monetary loss would be outweighed by the non-monetary gain, thus making the purchase a rational decision for that individual.
I didn't see anything in the classical economics article about what is rational or not. I also want to know what book you got this stuff about indulging in fantasies. Ok its probably true but where does it say that?
The section on propability of winning contains too many analogies for an encyclopedic article. Also, it is a common misconception (created by people who don't understand how statistics work) that if the odds are 1:10, then you will have buy 1 ticket a week for 10 weeks to be sure to win. In reality, if the odds are 1:10, it will be 1:10 for each of the weekly tickets. -- leuce ( talk) 10:01, 6 January 2012 (UTC)
The § doesn't really capture what is at core contemptible and corrupt about government run numbers rackets. It's that it encourages the idea of getting money for nothing, instead of working for it. The racket degrades and in a sense is a purposeful effort to deny the relation between the value of money and its basis in work/labor in addition to encouraging magical and self defeating thinking in the masses. 72.228.189.184 ( talk) 17:55, 31 March 2012 (UTC)
The article Lotology is a poorly sourced stub that would easily fit as a mention in this article. - SummerPhD ( talk) 13:23, 13 August 2014 (UTC)
A decent amount of material on this page should be moved to Lotteries by country. The article also is very short on references, and has too much trivia.
Anyone here with any thoughts on potential changes? Power~enwiki ( talk) 04:16, 4 July 2017 (UTC)
Hello fellow Wikipedians,
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I think that the frequency and prevalence of housing and rental lotteries might warrant adding a section or brief mention of housing and rental lotteries, or a separate article on the topic housing and rental lotteries. MaynardClark ( talk) 17:46, 26 April 2019 (UTC)
![]() | This is an archive of past discussions. Do not edit the contents of this page. If you wish to start a new discussion or revive an old one, please do so on the current talk page. |
Archive 1 |
I think the following link should be added in the External links section: probability.infarom.ro Lottery Mathematics. There are some general formulas covering all numeric lotteries regarding probabilities and number of prizes. —Preceding unsigned comment added by Infarom ( talk • contribs) 14:02, 14 March 2009 (UTC)
These should be removed. These people are not noteworthy other than being lucky and don't merit inclusion in an encylopedia. Seems like an attempt to enable people to solicit donations from the winner. I know the names are available on other Internet sites, but since Wikipedia comes up first in most Google searches and it's not the people who are important, but rather the event (the biggest winning jackpot) that is important I say remove the names 63.26.103.24 ( talk) 03:42, 10 August 2008 (UTC)eric
Are Canada's two "national lotteries" really "national"? Seems to me they are just run by associations of provincial lotteries, much like the state lottery associations (like Powerball) in the USA. Already the great majority of US population lives in Powerball states—if every state had a Powerball-associated lottery, would Powerball be a national lottery? To me the term "national" implies that is run by the federal government. (Which might be unconstitutional as things stand in the States.) NTK 18:30, 3 Feb 2005 (UTC)
Sure, to win a Powerball jackpot. But there other smaller jackpot games with much easier odds, like Cash 5 here in Pennsylvania. The odds are about 1 in 575,595, not good odds, but not "vanishingly small". For that reason I have to put the objectivity of this article in question.
Odds for Cash 5 in Virginia are 1 in 278,256.
The first line of the article seems to be very shallow. Well, though it ("lots") is the basic idea maybe the intro could be a bit more detailed. The word Lotto isn't explained in detail to differentiate it from the lottery ticket. I guess I could fill in the gaps but someone else can also help. Also do we need the list of countries with lotteries at the top? Can we introduce a section on wheeling systems and expand on it? I know something on wheeling but an expert hand on this would be good. Tx Idleguy 19:51, 22 October 2005 (UTC)
I agree, the initial definition is dire. The article badly needs to draw a distinction between a lottery (where zero prizes might conceivably be won) and a raffle (where all prizes are pre-designated and won, for example the UK's Premium Bonds, or the UK's EuroMillions Raffle) —Preceding unsigned comment added by 87.114.11.4 ( talk) 15:33, 20 January 2010 (UTC)
Any game which picks x amount of numbers from a to b is a lottery.
The difference between lotteries however, has to do with the payout amount for each.
For example, if you're running a lottery, you generally won't let people match any one number, because too many people will win.
The people who run the lotteries have the ability to shift up or down the level of prizes involved for each one, and they do it in their favor.
A top down lottery, is one in which the odds are made significantly difficult (some weeks no one wins) with six or seven numbers so that eventually one person will win a huge prize. One thing worth arguing over is that if you buy a $2 ticket you should expect some one to win a prize that week. Putting the money into the next weeks jackpot assumes that you will buy a ticket the next week, which is not always the case.
A bottom up lottery would be one in which most of the prizes are distributed to the bottom end of the lottery, with the remainder going to winners with more numbers. This system seems inherently more fair, although the prizes would not be as good. But in a draw where no one wins, do you really care how big the prizes are? At least more people would be satisfied.
LotteryOhYah 03:07, 24 October 2005 (UTC)
People being unsatisfied by the Lottery, prizes, and odds doesn't seem to stop them from playing. If you're not satisfied or if you think it's crooked, then the obvious answer is "DON'T PLAY!"; it's as simple as that, if you think about it, but people still play.
The $363m Mega Millions jackpot was actually bigger than the $365m Powerball Jackpot because of how the prizes are paid. Because of the structure of the annuities, Mega Millions annuities are worth about 55% of the advertised prize, but Powerball jackpots are worth about 46%. So the MM jackpot was about $30m bigger, in real dollars. 70.22.209.192 09:57, 24 February 2006 (UTC)
Yes. How much tax is taken in the US lotteries? Seems to be a significant issue. In Australia winning are tax free. (Greg)
To answer the question above (Greg), Lottery winnings in the US are considered "taxable income." In Virginia, if any one of your tickets is $5001 or higher it is taxed at a rate of 25% Federal and 4% State immediately. If your ticket is $5000 or less, a W2 form is issued that would be filed with the next tax return. With that said, 25% and 4% are the MINIMUM tax deductions. Since the prizes are taxable income, depending on what your income for the year is, you could owe more than the minimum. Someone making a grand total, salary plus lottery winnings, of $30,000 for the year is going to pay less in taxes than the person who made $250,000 for the year. However, taxes owed by Lottery winnings can be written off by submitting losing tickets to off-set the taxes owed. If you've won $5,000 for the year submit $5,000 worth in losing tickets, and you won't have to pay a dime. The money you put into the Lottery in Virginia is considered a donation, in a sense, because it is contributed to the K-12 Education Program.
I also offered one-of-a-kind links to free lottery software and systems. Moreover, I posted thorough but concise formulae to calculate lotto odds with the hypergeometric distribution probability. Such formulae are a must when it comes to an encyclopedic analysis of lottery.
Everything I posted was deleted shortly thereafter. Why?
My contributions showed absolutely unique theories. Not only that, but they have the most solid foundation: philosophical and mathematical. As Plato put it:
”Let no one enter here who is ignorant of mathematics”
Is it jealousy or does it represent a conflict of interest? Does the management at Wikipedia accept such behavior from editors who so easily delete original contributions?
Ion Saliu
This could do with a better scope. The Ancient Greeks chose some of their offices by lottery rather by election (this was seen as more democratic to avoid the effects of plutocracy). If you spend this much on your credit card you could in this prize, or submit your donation to the National Kidney Foundation or whatnot. Things like that. Not merely buying a lottery ticket. John Riemann Soong 00:22, 23 July 2006 (UTC)
It may not alway be irrational for someone to play in a lottery even though the expected winnings are much lower than the price of the ticket because of the utility of money. The loss of one dollar might have only a tiny impact on one's life, while gaining millions of dollars would have a huge impact. The difference in impact might be greater than the odds of winning. The article has a very negative POV towards those who play the lottery and this might add some neutality to the article. This is explored in H.W. Lewis' book "Why Flip a Coin?: The Art and Science of Good Decisions." I don't have the book handy so I don't feel like trying to include his thoughts to the article.
I would have put this in the Australian Lottery section except that the history of other lotteries are also in this section (eg NZ, France, so on) I know that there is a rich and interesting history of national lotteries and so on in Australia: for example the Sydney Opera House had a good deal of its' overflow paid for by lotteries, though I haven't references other than first hand comments from people who bought tickets. Can't find any information on all that in the wikipedia though, and don't know enough about it to add my own. Thisfox 00:26, 5 September 2006 (UTC)
I had heard a rumor that men win the lottery more than women - and no one knows why. But whats worse is that the margin was beyond scientific explanation.
Can anyone verify this?
71.201.95.224 15:26, 10 September 2006 (UTC)
Men play it more. There is no statistical reason why one sex would be more likely to win than other, unless they buy more tickets. Rob.derosa 06:36, 18 October 2006 (UTC)
Would you be better of buying 1 ticket every drawing or waiting and buy 100 tickets every 100 drawings? I'm guessing going big once in awhile is better. —The preceding unsigned comment was added by 209.206.165.13 ( talk) 08:57, 4 February 2007 (UTC).
I think this needs some images, if wanted, I could find some 6/49 tickets or Scratch 'N Win tickets and scan them to put on this site. —Preceding unsigned comment added by 24.129.239.143 ( talk) 03:29, 28 December 2007 (UTC)
I have checked a few style manuals and it seems that names of lotteries are not normally italicised. I'll do some clean up. Nurg ( talk) 03:59, 29 March 2008 (UTC)
There is an internet meme, stating that MOST Lottory winners lose their respective fortunes after a few years, due to lack of financial education, self-hype and over exuberance. IS there any relevant information about this phenomenon..? Procrastinating@ talk2me 17:53, 14 September 2008 (UTC)
What about adding a UK national lottery syndicate site to the external links section... nationallotterysyndicate.co.uk —Preceding unsigned comment added by Buckyuk uk ( talk • contribs) 09:01, 14 June 2009 (UTC)
The article currently contains a few passages of completely uncited economic arguments. All strongly say that playing lotto's a "bad economic choice", the only concession given is that players receive some value in the entertainment factor. Entirely based on long term averages and expected outcomes.
Nowhere is it mentioned that for most players (and non players for that matter), without lotto the chance that they'll one day be able to live very comfortably, extravagantly even, without having to work for their income is zero. With lotto, that's increased to one in several million. Yes, there's expected losses and on average you'd do much better investing in blue chip stocks, but those that value the chance that they'll one day be wealthy (people that may otherwise have slim chance of ever achieving wealth) more then the ticket price, it's a good economic decision. Even before you factor in the entertainment value. Themania ( talk) 09:38, 23 June 2009 (UTC)
There's a statement suppose one buys one lottery ticket per week. 13,983,816 weeks is roughly 269,000 years; In the quarter-million years of play, one would expect to win the jackpot only once. In fact the odds of winning the jackpot by entering once a week every week for 13,983,816 weeks is pretty much exactly 2/3, far from an uneqivocal expectation of winning. Fizzackerly ( talk) 22:18, 30 January 2010 (UTC)
{{
cite encyclopedia}}
: Missing or empty |title=
(
help)Here is a link I usually put in the external links sections. It is rather a semi-external link since it goes to Wikisource. I think it is of historical interest. Per the directive I found, I leave it here for another editor to put in the external links section if it seems worthwhile. Bob Burkhardt ( talk) 19:46, 3 February 2010 (UTC)
Lotteries are morally repugnant for a number of reasons: 1) they make people rich for doing nothing at all in societies where money is a life or death issue, 2) they prey on the poor and ill-informed who are unable to understand either the primary moral issue or the facts of probability as they concern the games, and 3) they encourage magical thinking generally in those who most need the opposite, especially about the nature of money, how to get and keep it, etc. There are reasons that while ancient they were generally outlawed in the west until 30 or 40 years ago. 72.228.177.92 ( talk) 02:32, 23 February 2010 (UTC)
Isn't it about time for a separate article on all the countries with national lotteries and respective details? Then this article can be more about the history and concept and the other about the countries. Do people agree? Any suggestions for a title, I've never started an article so am not really familiar with naming conventions, but would be happy to execute it. Joost 99 ( talk) 11:43, 26 July 2010 (UTC)
Should this not use the flag of each individual country, whilst Switzerland isn't part of the EU, the entire EU doesn't take part. // Fi nns 11:48, 21 November 2010 (UTC)
I just read the article looking for the negative impacts of a lotto and it took me a while, because there is so much going on in the article. I finally found it in the 'Probability of winning' section, but it seems like the article has either grown too large or is not organized well. While I know some people hate criticism sections, it seems clear that at least some of the content needs to be broken out into subsections or additional articles. M4bwav ( talk) 16:54, 9 December 2010 (UTC)
Most articles about federal taxes on lottery winnings tell you that 28% will be withheld from your gross winnings. If your winnings are over $1,000,000, you are better off to have 35% withheld. The reason is that 28% is not enough to cover the true tax liability and you could pay a penalty for underwithholding. The 35% rate is slightly more than the true tax liability, so you will receive a refund when you file.
Lottery lover — Preceding unsigned comment added by Lotto lover ( talk • contribs) 18:39, 27 March 2011 (UTC)
If you need sources for anything can someone please explain this paragraph, its the 3rd or 4th from the top?
The purchase of lottery tickets is, from the perspective of classical economics, irrational. However, in addition to the chance of winning, the ticket may enable some purchasers to experience a thrill and to indulge in a fantasy of becoming wealthy. If the entertainment value (or other non-monetary value) obtained by playing is high enough for a given individual, then the purchase of a lottery ticket could represent a gain in overall utility. In such a case, the monetary loss would be outweighed by the non-monetary gain, thus making the purchase a rational decision for that individual.
I didn't see anything in the classical economics article about what is rational or not. I also want to know what book you got this stuff about indulging in fantasies. Ok its probably true but where does it say that?
The section on propability of winning contains too many analogies for an encyclopedic article. Also, it is a common misconception (created by people who don't understand how statistics work) that if the odds are 1:10, then you will have buy 1 ticket a week for 10 weeks to be sure to win. In reality, if the odds are 1:10, it will be 1:10 for each of the weekly tickets. -- leuce ( talk) 10:01, 6 January 2012 (UTC)
The § doesn't really capture what is at core contemptible and corrupt about government run numbers rackets. It's that it encourages the idea of getting money for nothing, instead of working for it. The racket degrades and in a sense is a purposeful effort to deny the relation between the value of money and its basis in work/labor in addition to encouraging magical and self defeating thinking in the masses. 72.228.189.184 ( talk) 17:55, 31 March 2012 (UTC)
The article Lotology is a poorly sourced stub that would easily fit as a mention in this article. - SummerPhD ( talk) 13:23, 13 August 2014 (UTC)
A decent amount of material on this page should be moved to Lotteries by country. The article also is very short on references, and has too much trivia.
Anyone here with any thoughts on potential changes? Power~enwiki ( talk) 04:16, 4 July 2017 (UTC)
Hello fellow Wikipedians,
I have just modified one external link on Lottery. Please take a moment to review my edit. If you have any questions, or need the bot to ignore the links, or the page altogether, please visit this simple FaQ for additional information. I made the following changes:
When you have finished reviewing my changes, you may follow the instructions on the template below to fix any issues with the URLs.
This message was posted before February 2018.
After February 2018, "External links modified" talk page sections are no longer generated or monitored by InternetArchiveBot. No special action is required regarding these talk page notices, other than
regular verification using the archive tool instructions below. Editors
have permission to delete these "External links modified" talk page sections if they want to de-clutter talk pages, but see the
RfC before doing mass systematic removals. This message is updated dynamically through the template {{
source check}}
(last update: 5 June 2024).
Cheers.— InternetArchiveBot ( Report bug) 16:42, 6 January 2018 (UTC)
I think that the frequency and prevalence of housing and rental lotteries might warrant adding a section or brief mention of housing and rental lotteries, or a separate article on the topic housing and rental lotteries. MaynardClark ( talk) 17:46, 26 April 2019 (UTC)