Tag: deceives

Happy gamblers make the house happy: how gambling deceives winners

Let’s consider a player betting on a typical game, the Italian Lotto: the player pays a stake (1$ for sake of simplicity) and chooses 2 numbers over 90. 5 numbers are drawn; if two of them correspond to the bet, the player wins 250 times the stake, with a net income of 249$; any other combinat...