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Do You Feel Lucky, Punk?
By Doctor Wealth  •  January 7, 2015
The importance of including luck, probability and randomness in your financial decisions. — 1 in 300,000. Those are the odds of you being killed by lightning, according to author David Hand in his book The Improbability Principle. What about getting lucky and hitting the jackpot in TOTO? 1 in 13,983,816. You’re more likely to get struck by the wrath of Zeus than striking the grand prize in Singapore’s sanctioned lottery game. In spite of these long odds, thousands of people, young and old, regularly buy these papery pieces of hope, hoping to get lucky. In the long run, your expected return of investment is negative 36 percent. Essentially, for every dollar you invest in TOTO, you’re expected to get back 64 cents. I can guarantee you though that if you present these numbers to a seasoned TOTO ticket buyer, he or she will still continue the habit, dismissing your ......
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By Doctor Wealth
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