Re: Lottery at the +EV Point
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1. The lottery is NOT 340m it IS 160.4m. They always tell you the annuitized value because it is a larger number. The cash payout today is the samller number.
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It bothers me that they do this.
Same goes for slot jackpots at casinos.
The person in the ad (billboard or whatever) who won $20k didn't really win $20k. They only REALLY won $12k or whatever.
It's incorrect and misleading imo.
Lotteries also bug me because when I'm at the convenience store just trying to buy some milk or beer or something there's always some shmoe ahead of 8 people in line holding things up because they are buying 37 powerball or scratch-off tickets or whatever and the machine is messing up on the cashier, etc etc.
Or the guy is just standing there trying to decide which idiotic -EV scratch-off game he wants to play.
"Give me 5 of the Lucky 7's...and 5 of the other one with the numbers that go across, and 4....no, make that 6, of the Insta-Super-Fun-Cash-Dopplar-Radar-8000's" blah blah blah.
C'mon dude. I don't want to wait in line forever while you evidently want to give the rest of your rent-money to the state.
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