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Powerball and expected value

Posted on October 20th, 2005 by brother9 in Gambling

Let’s discuss the realities of expected value, if the lottery really is merely a “tax on the stupid,” and what it really means to gamble. Most gambling situations have an expected win value. For instance, in a coin toss situation, if I bet $1 on heads to win $1, the expected value of my wager [...]

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