That depends a lot on the nature of the lottery. If it was a typical lottery that for some reason had a 15% chance to win, a $500 ticket would not be worth it as all, since thousands of people would win and split the prize amongst themselves and the expected value would be much less than you would assume at first glance.
If it’s just “spend $500 for a 15% chance of gaining a million,” though, I’d take as many tickets as I could get!
That depends a lot on the nature of the lottery. If it was a typical lottery that for some reason had a 15% chance to win, a $500 ticket would not be worth it as all, since thousands of people would win and split the prize amongst themselves and the expected value would be much less than you would assume at first glance.
If it’s just “spend $500 for a 15% chance of gaining a million,” though, I’d take as many tickets as I could get!
Yes, that version seems much less problematic, and I think the average person might be in favor of buying infinity tickets.