Why People Play the Odds

It seems that everything is getting harder these days, including the lottery. The recent Powerball odds went from 1 in 175 to 1 in 292 million. More numbers have been added, which means the odds have gotten tougher. It’s also gotten twice as hard to win that second prize if you are lucky enough to get all of the correct numbers except the Powerball number.

play the odds

play the odds

Even though we have a better chance of being killed by an asteroid strike, millions of Americans still play the lottery every week. Millions still play the odds. And it’s not just the lottery.

Every year eager young actors, writers, and directors flock to New York City and Hollywood for a chance to make it big. Even though the odds of actually getting on the A list are slim, there is never a shortage of talent that wants to prove everyone wrong.

According to Harvard Business School only 18% of entrepreneurs succeed in their first business venture. Yet every day new entrepreneurs enter the market. [Read more…]