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Path: utzoo!utcsri!utcs!mnetor!genat!mike
From: mike@genat.UUCP
Newsgroups: can.politics
Subject: Re: lotteries
Message-ID: <2043@genat.UUCP>
Date: Fri, 12-Jul-85 10:48:34 EDT
Article-I.D.: genat.2043
Posted: Fri Jul 12 10:48:34 1985
Date-Received: Sat, 13-Jul-85 01:42:05 EDT
References: <2225@utcsstat.UUCP>
Organization: Genamation Inc. (Toronto Ontario, Canada)
Lines: 17

> 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.
> 
> 	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.
> 
	Ah yes, but did you take into account the benifits derived from
the Wintario funded Pools, Arenas, etc. which have come about due to the
lottery?

						Mike Stephenson