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What Is The Temptation Of Playing Lotteries?

Powerball drawing to be held on Saturday night. The prize is estimated at $600 million

The odds of winning are 1-in 175.2 million, as per Powerball

One reason is that everybody else is buying tickets, and experts agree.

Six numbers are powerful enough to transform your life.

Perhaps your child is sick and there are hospital expenses to be paid. Perhaps you’ve lost your job and are concerned about making enough money to pay the rent. Maybe you still have some work however it’s not the best, and you’d love to spend the next 50 years relaxing on the beach with a Mai Tai in hand.

Whatever your situation The current estimated Powerball jackpot of $1.5 billion can help. Which makes us wonder – when it comes to playing the lottery, can we all just damsels in distress?

“People enjoy having fantasies of rescue,” human behavior expert Dr. Wendy Walsh told CNN in 2011 when it was announced that the Mega Millions jackpot hit $656 million. “We possess the Cinderella problem – we have an angelic fairy godmother waiting to appear and save us.”

We’ve all heard the statistics. Your chances of hitting the 파워볼사이트 jackpot are one in 175.2 million. You’re more likely to get a sting from a bee (one out of 6.1 million), get hit with lightning (one in 3 million) or have conjoined twins (one in 200 000).

People continue to play, probably because the thought of winning is a lot more enjoyable than the prospect that you might be attacked by a shark (one one in 11.5 million).

“It doesn’t bother them because they’re in love with optimism,” Walsh said.

In the fiscal year 2012, U.S. lottery sales were $78 billion, According to North American Association of State and Provincial Lotteries. Over half of us have taken part in the lottery during the last year, but only 20% of people buy the majority of their tickets.

Part of the allure is that everyone else has done it, said Prof. Stephen Goldbart, author of “Affluence Intelligence” and co-director of the Money, Meaning & Choices Institute.

In a Psychology Today article titled “Lottery-itis!” Goldbart noted two primary reasons for people to buy tickets.

“Jumping on the bandwagon is an old-fashioned motivator for behavioral conduct,” wrote Goldbart and his coworker, Joan DiFuria. “We would like to be part of the crowd, to feel “part of the group,’ not ‘feel as if we’re left out.’ “

The other reason comes from a sense of disempowerment caused by change, whether it’s a changing economy or the world.

“The map to finding the American Dream has been radically modified,” they wrote. “(The lottery) lets you believe in the magic of winning: that you will be the one who spent small amount and won a lot as well as the odds that are so high against winning.”

Spend a bit, gain a lot – the basis for every successful investment. The price of the lottery is one of the most attractive things about it.

This industry frequently accused of being an unjust tax on the most disadvantaged. In the average, households who earn less than $12,400 each year, spend about five percent of their income on lotteries according to Wired.

As of 2008, scientists at Carnegie Mellon University attempted to explain why the poor tend to purchase lottery tickets.

The study, published in the Journal of Behavioral Decision Making, theorized that people focus on the cost-to-benefit of just one ticket and do not add up the long-term cost of playing over a year, or a lifetime.

A few study participants were given 1 cent at a go and asked if they wanted to use every dollar to purchase tickets to the lottery, author George Loewenstein said. Others were presented with $5. They were then asked how many lottery tickets they planned to buy with the money. Participants from a third group were informed that they could spend $5 for lottery tickets or not buy any at all.

People in the second group bought only half the amount of tickets as those given $1 at a time. In the all-or-nothing scenario 87% of participants bought no tickets. The findings of the researchers coincided with what is known as”the “peanuts impact.”

“There are some money sums that are small enough that most people would rather not even think about them,” Loewenstein said Wednesday.

“It seems almost like it doesn’t even exist. The penny and lottery slots are the best place to gamble. They’re incredibly cheap and cost-effective to play, and you can make a huge profit.”

Still, to say that playing the lottery is a bad idea does not go over well with the professor of psychology and economics.

“It’s absurd to suggest the 51% portion of people is just irrational or self-destructive,” he said. “It serves a psychological function for people. … Our pleasure of living isn’t just contingent on our present situation but also on what might happen our future. We can envision what our circumstances could turn into.”

Irrational or not, millions will sit around their computers and televisions and hope that the six numbers they’re holding will appear.

They’re hopeful that the fairy tale finale they’ve waited for is on the way, even if it takes just a bit of magic.