A mega jackpot for flights of fancy
A Mega Millions ticket Credit: BLOOMBERG
On the surface, the argument that lotteries are a "tax on the stupid'' makes sense. The odds against a ticket for tonight's $300-million-plus Mega Millions drawing hitting every number are 175,711,536 to one. For even a 50 percent chance of hitting a jackpot, you'd have to buy 845 tickets in every twice-weekly drawing for 1,000 years.
But purchased in moderation, wagers that give us a tiny shot at an enormous windfall are a great deal.
The dollar spent on a huge drawing buys us fantasies of winning. We imagine the perfect beach, the "take this job and shove it" speech, spoiling family and friends and, hopefully, making the world better. A lottery ticket is like a movie ticket: It offers an escape. The advantage of the lottery ticket over the movie ticket is that it's cheaper, and someone does win.
Plus, with a carry-over jackpot this big, it's a smart gamble, because all the money contributed by players who've already lost sweetens the pot for this drawing.
So if the idea appeals to you, buy a ticket. If it brings a few hours of joyous fantasizing, it's a bargain.
Just don't buy too many, don't tell your boss to shove it until you're positive you've won, and take the lump sum if you cash in big.
The annuity's a sucker's play.
