The Hanoi Lottery [หวยฮานอย, which is the term in Thai] prize has struck a document high of $1.5 billion, and the prospect of taking a lot of it the house is enticing for the least money-minded among us.
Regrettably, your opportunities of winning are only around 1 in 292,000,000. As a matter of fact, it says simply that on the website.
So why are numerous individuals rushing to buy tickets illustration?
We’re not attempting to deter you from getting in the lotto game, by the way. But the ideas below will aid you in understanding why you and the majority of people are inclined to participate.
- We drop target to the “close to missing out on” effect
The “close to miss” effect explains what occurs when you feel like you virtually won and wish to attempt again, even though you weren’t also close.
The trouble is that when people get half the numbers right, they assume they were “so close!!!” as well as quickly reenter the lotto game. So, while they could think that they simply missed out on the target, the distinction in chance is really in the thousands of millions.
- Our minds have not developed to recognize such low chances
We developed to have some gratitude for numbers. For example, we can quickly understand the difference between an army of 10 soldiers versus an army of 100 or 1,000.
Definitely, the reality that your probabilities of winning the lottery prize recently went from 1 in 175 million.
- The lottery plays right into our “schedule bias”
The “schedule bias” is the term for when we overestimate an occasion’s likelihood based on exactly how solid our memories of that occasion are.
You are going to see when you check lottery results [ตรวจหวย, which is the term in Thai], always only winners are shown, and never the losers, so the stories of the winners attract attention far more in our memories. It makes winning appear feasible