Virginia Tech statistics professor says America's lottery obsession may produce thrills but isn't worth the cost
January 13, 2021
Buying a lottery ticket can produce a thrill but it’s not likely to put millions in the purchaser’s bank account, says Virginia Tech statistics professor J.P. Morgan.
The Mega Millions jackpot is expected to climb above $750 million, putting it among the largest jackpots in U.S. lottery history, and increasing interest in the game. Powerball stands at $550 million.
Morgan, who has examined the system and can discuss the American obsession with winning big, offers this advice: “Play imaginary lottery twice a week for a year and you will have 'won' $208! Use it for something special and count yourself the real winner.”
How do lotteries work? What are the chances of winning? Is the thrill of buying a lottery ticket worth the cost? Morgan is available for interviews leading up to the next Mega Millions drawing on Friday.
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