On Tue, 17 Jun 2008 13:19:56 -0700, Darren New wrote:

> Jim Henderson wrote:
>> "Tax on stupidity" = lottery.  Or on "people who can't do math". :-)
> 
> Not really true.
> 
> Here's lottery number one:
> 
> You give me $1, and I give you a 1/100 chance you will win a $1,000,000
> dollars. Do you take the bet?
> 
> Here's lottery number two:
> 
> You give me a $1,000,000 dollars, and I give you a 1/100 chance you will
> win $1,000,000,000,000. Do you take the bet?
> 
> It's the same expected outcome, you'll note.

I meant for lotteries like the Minnesota State Lottery, or Powerball.

Or any game, really, that's rigged so the house wins most of the time.

Jim

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