No-one won the Euro Millions lottery today. Despite odds of 76 million to one, millions of otherwise sane Europeans parted with their hard-earned in order to have no chance of winning all or part of £103m. Of course you can see the appeal. After all, every week Britons have the chance to not win around £5m at odds of 14 million to one, so surely the chance to miss out on £103m at five times worse odds is worth a go?
I'd like to know at what point, exactly, people would reason that the odds of not winning something are so high, it doesn't matter how big the prize is. Pick 10 correct numbers for the chance of a billion? Get 20 numbers right and you win the annual GDP of Kuwait? There seems a paradox at work here, whereby people cannot reasonably assess the statistical probablity of 76,000,000:1, yet seem able to absorb the implications of gaining £103,000,000 in personal wealth.
And the occasional players whose ears prick up when the jackpot hits £50m; at what point does it become worth it for them? People who wouldn't normally play for £5m, but would stake something on £103m. After all, you get so little for £5m these days.
Check you’ve got the latest version of FishBarrel ready for the Nightingale Collaboration’s next campaign - The Nightingale Collaboration will shortly be launching a new and exciting campaign that you can help out with – but you’ll need to make sure that: - ...
4 years ago