Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.1 6/24/83; site utcsstat.UUCP Path: utzoo!utcsri!utcsstat!anthony From: anthony@utcsstat.UUCP Newsgroups: can.politics Subject: lotteries Message-ID: <2225@utcsstat.UUCP> Date: Fri, 12-Jul-85 00:03:59 EDT Article-I.D.: utcsstat.2225 Posted: Fri Jul 12 00:03:59 1985 Date-Received: Fri, 12-Jul-85 02:26:49 EDT Organization: U. of Toronto, Canada Lines: 26 In article <1243@utcsri.UUCP> clarke@utcsri.UUCP (Jim Clarke) writes: >the stupid". A rational person who knows something about probability and has >alternative ways to improve his or her situation does not buy lottery tickets. >Therefore to buy lottery tickets you must be either (1) stupid or (2) hope- >lessly poor. I consider it immoral for politicians who are neither stupid >(in spite of our common prejudices) nor poor to offer this kind of temptation >to people whose money would be better spent buying milk. Applying basic probability theory, it can be shown that for every dollar invested in Wintario, the expected return is 47 cents. Conversely, the expected return on the same dollar at the race track is 87 cents and 93 to 95 cents at Las Vegas! On the average, lotteries in this country provide a return of 42 to 49 cents on the dollar. >lessly poor. I consider it immoral for politicians who are neither stupid >(in spite of our common prejudices) nor poor to offer this kind of temptation >to people whose money would be better spent buying milk. Definitely!! Taxing the poor by exploiting their circumstances with false hopes leaves something to be desired of. -- {allegra,ihnp4,linus,decvax}!utzoo!utcsstat!anthony {ihnp4|decvax|utzoo|utcsrgv}!utcs!utzoo!utcsstat!anthony