Lottery Problems – How To Play The System
A lottery is a type of gambling which involves the random drawing of specific numbers for a specific prize. While it is true that no two lottery tickets are ever the same, there are certain similarities between certain lottery tickets. In some states, lotteries are banned entirely, while in other states’ lotteries are regulated by a patchwork quilt of state laws and regulations. It is perfectly common to see some level of regulation of lottery by various governmental bodies.
The laws regulating lotteries can best be described as a balance between the wishes of the individuals who run the lottery, and the public’s right to fair play. For instance, if everyone who played the lottery won every time, then nobody would play it. That would drive up its costs, which would have to be passed on to consumers in the form of higher taxes. Nobody is suggesting that the lottery is run like a social worker, providing work for the poor and needy. However, if the lottery were to be run according to a strict code of probability, then the lottery players would have an upper hand over the general public because they could choose more numbers and therefore obtain an advantage over the general population.
So how does this apply to lottery jackpot prize pools? If people are going to build them, why not build them with a little bit of “loophole” in the system that allows for the possibility of hitting a mega-million prize, rather than a few million? And if we’re going to regulate the lottery, shouldn’t we also regulate the odds of winning the prize? After all, the odds of hitting the jackpot are what make the prize worth it… and the odds don’t favor the common person.