Lotteries: Is It Worth It?<br />By De Nguyen<br />
History of Lotteries<br />First earliest lottery-like game was Keno. Created in China, 205 and 187 B.C.<br />1434, first public lottery went on record, in the Dutch town of Sluis.<br />1612, King James 1st approve the first English lottery, which lead to lotteries in the colonies.<br />Princeton, Colombia University, and University of Pennsylvania began by being financed by lotteries.<br />Lotteries also help support and fund war efforts in early American wars.<br />
Major Lottery Games<br />3 digit lottery: Pick 3, Daily 3, Play 3, and Cash 3.<br />4 digit lottery: Pick 4, Daily 4, Big 4, and Cash 4.<br />5 digit lottery: Cash 5, Fantasy 5 and Quinto.<br />6 digit lottery: Powerball, Mega Millions and Match 6.<br />
How to Play.<br />A simple set of rules.<br />Must be purchased before date of drawing. Each game has on draw dates.<br />A set of numbers that you can pick from. Usually the game name tells you how much number you can pick.<br />Wait until the drawing date and pray you win.<br />
The Truth Behind Lotteries.<br />It is government-run, therefore it was created to benefit the government and rules are subject to change.<br />The chance of winning or hitting the jackpot is 1 out of 175,711,536 according to Mega officials.<br />Chances of winning also increases.<br />It is like a drug. More and more is needed to satisfy the high.<br />Tax is also taking out of the Jackpot.<br />The payoff figures are inflated.<br />
Probabilities and Math<br />Would you spend $50 in one week, or $1 in fifty weeks?<br />The Math: <br /> 1) Expected return formula. Is it worth it?<br />EXPECTED RETURN = POTENTIAL WINNING * PROBABILITY OF WINNING - POTENTIAL COST * PROBABILITY OF LOSING.<br /> 2) The probability formula.<br />n! / (k! x (n – k)!)<br />SuperEnalotto is the hardest Italian lottery to win. Jackpot is 1 out of 622,614,630. <br />
Why Do People Still Play It?<br />To fulfill dreams and fantasies.<br />Quick, effortless way to get rich.<br />Escape from inequality.<br />It is an addiction.<br />Easy to play.<br />Psychological effects. <br />
Conclusion<br />Lotteries have a psychological impact on human mind.<br />People dream big, but refuse to put in the effort to get there.<br />How hope can play such a major role in lottery buyers.<br />
A particular slide catching your eye?
Clipping is a handy way to collect important slides you want to go back to later.