Comments on Why better to buy one ticket for multiple draws, instead of multiple tickets for the same draw - in terms of variance, skewness, kurtosis?

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Why better to buy one ticket for multiple draws, instead of multiple tickets for the same draw - in terms of variance, skewness, kurtosis?

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When the jackpot is high, I buy the lottery for fun, as does professor paul bloom. a personal finance expert advised against lotteries, because they're tax on the stupid. BUT she said that if you insist on buying a ticket, better to spread out your tickets - never buy multiple tickets for the same draw. instead, buy one ticket for multiple draws.

why? she said that buying one ticket for multiple draws lowers your mathematical moments, like variance, skewness, kurtosis.

Note the distinction that if you buy two tickets to the same lottery you can't win twice, but if you buy one ticket from each lottery you can win twice. The total expected value of your winnings is the same regardless. The point is that by playing the same lottery twice you have less chance of having won nothing and more chance of having won once and zero chance of having won twice compared to if you play two different lotteries. – JMoravitz CommentedApr 7, 2022 at 17:23

in addition to this comment, can you elaborate please? is this tv personality right? to what extent do these moments matter?

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