Most people who play Oz Lotto know that they have next to no chance of winning the jackpot, but still, they keep on buying tickets. The odds of winning the jackpot prize is around one in 45 million. You are more likely to be crushed by a meteor from space than win the Oz Lotto.
Despite the odds, a lot of people still play Oz Lotto online. Even though they know that their chances of winning the division one is slim, they still continue to buy tickets each week. Below are some of the reasons why people play Oz Lotto, or lottery in general.
There are times when people miss the winning combination by a number or two. When a person almost wins the jackpot, they see it as a sign to keep playing. The brain interprets the near misses as successes, and that’s why people continue on playing. This is the same response that the brain gives out when playing skill-based games such as basketball and baseball. Near misses indicate that you are close to scoring or hitting, and you should try again. It offers the player hope that one will be successful in future attempts.
People tend to think of something based on the available examples. There are stories and news of Oz Lotto winners all the time, but have you heard about players who have been playing for years and haven’t won anything yet? With this example, people might think that hitting the jackpot is not that rare. As a result, players conclude that they can win the lottery.
Already Invested a Lot of Money:
Sunk cost is the term that pertains to previous expenses that can’t be recovered. In business, it can be the costs of education, advertising, or software. Because the expenses were already paid for and can’t be recovered, they are no longer considered into future business decisions.
In lotteries, people often fall victim to sunk cost fallacy. They will buy more tickets because they have already invested a lot on them. It is not just in lotto where people make irrational decisions due to sunk costs. It is just like watching a very bad movie, but you can’t stop because you are already in the middle part – you’ve already invested an hour, might as well finish it.
Going for the Long Shot:
Some people play the lottery in the hopes of winning it. For them, the Oz Lotto jackpot represents a way out of their economic or social difficulties. The potential prize money can change their life, and that’s why they are willing to pay the small amount each week.
To Be Entertained:
Playing Oz Lotto is entertaining for some people. Even though they know they will not get any rewards from it, it does provide them with entertainment value. Everything is not just about money. Some players look for the thrill of winning a large jackpot, others use buying the ticket as a way to dream about what they will do with the money.
These are the reasons why people play Oz Lotto online or in stores. For less than the price of a cup of coffee, they have the chance to win millions and that slim chance is enough for them to justify the costs of lottery tickets.