More likely to buy tickets - Deepstash

Bite‑sized knowledge

to upgrade

your career

Ideas from books, articles & podcasts.

More likely to buy tickets

In an experiment, low-income participants were more likely to purchase lottery tickets when they felt that their income was low compared to a perceived standard. 

STASHED IN:

68

published ideas from this article:

MORE IDEAS FROM THE SAME ARTICLE

Government-run lotteries appeal to poor people. This causes them to spend a disproportionate amount of their income on lotteries, which contributes to them being poor, which keeps them buying tickets.

The lottery is cheap permission to dream about the possibility of a better life. Most players know they won't win. 

People without lots of money are more likely to participate in lotteries. On average, households that make less than $12,400 a year spend 5 % of their income on...

There is clearly a demand for playing the lottery. But low-income people spend more of their income on the lottery than other income groups.

  • A solution would be to stop marketing and advertising lotteries that target the poor.
  • States could promote and offer more games...

Discover and save more ideas by creating a

FREE

Deepstash account.

Develop a

reading habit

, save

time

and create an amazing

knowledge library

.

GET THE APP:

MORE LIKE THIS

Winning A Lottery

Human beings are not wired to grasp the concept of probability. A chance of winning a lottery, sometimes 1 in 175 million, is not something that bothers us.

The Lottery ticket, selling in billions per year, remains a popular sport in the world, and is something whose app...

STASHED IN:

79

A lottery is a game of chance

A lottery refers to a random draw.

  • Lotteries can be used in decision-making situations, for example, sports team drafts.
  • Lotteries are also a form of gambling that encourage people to pay a small sum of money with a chanc...

2

STASHED IN:

12

Gamification Of Money Apps

It is 2021, and there is an app for everything. Now companies are trying new and innovative ways to hook millions to their app.

Many app makers, like those in FinTech(Financial Technology), are trying to boost the performance, engagement levels and ‘stickiness’ of the app by using gami...

6

STASHED IN:

15