Comment on According to math, it's not worth risking $2 to play for the $800 million Powerball jackpot

According to math, it's not worth risking $2 to play for the $800 million Powerball jackpot

AP ImagesThe Powerball lottery drawing for Saturday evening has hit a record-high estimated jackpot prize that was $800 million as of this writing, after no one won the jackpot in Wednesday's drawing. While that's a huge amount of money, buying a ticket is still probably a losing proposition. Consider the expected value When trying to evaluate the outcome of a risky, probabilistic event like the lottery, one of the first things to look at is expected value.

 

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