Infinitesimal Chance of Winning the Lottery
Though many people fantasize about winning the lottery, the odds of winning are infinitesimal. For the Powerball, the odds of winning are 1 in 175 million. However, people are excited by the possibility of winning, causing people to spend almost $69 billion on all lottery games in 2012.
See Tara Siegel Bernard, Win a Lottery Jackpot? Not Much Chance of That, N.Y. Times, August 9, 2013, http://www.nytimes.com/2013/08/10/your-money/win-a-lottery-jackpot-not-much-chance-of-that.html?ref=your-money-email&nl=your-money&emc=edit_my_20130812&_r=1&.
Posted by Sarah Choi, Associate Editor, Wealth Strategies Journal
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