Powerball: Somebody’s gotta win, eventually

Powerball: Somebody’s gotta win, eventually



Atul Amin, left, sells a customer a Powerball ticket at his news stand in Philadelphia. The jackpot has climbed to $700 million. (Matt Rourke/AP)
The big idea: Some wonder why anyone would buy a lottery ticket. Others think: Why not spend two bucks each week for a chance to become a millionaire — or better? Behavioral economists shed light on why what seems the height of illogic to some makes perfect sense to others.

The scenario: Lotteries have the worst odds among virtually all legal gaming options. Nevertheless, for many players, the idea of spending $2 for something that gives them a chance to win big money is entertaining — and not very expensive. And, players reason, the lottery supports public programs such as education and mass transportation.

Plus, most states have marketing campaigns that offer hope for winning. Anti-gambling advocates have never gained much traction in statehouses arguing that state-advertised lotteries prey on problem gamblers or act as a “tax on the poor” by providing a glimmer of hope that problem gamblers could become millionaires.