osewalrus (osewalrus) wrote,

Going out to all my math-ey friends

I am trying to describe the nature of the following fallacy.

I should buy 100 lottery tickets rather than 1 because I have increased my chances of winning 100 times.

How would one describe this error in math terms. Is the problem that while the statement is literally true, the odds were so bad to start with that even this level of improvement does not make this a rational bet? Or is the problem that buying 100 tickets does not actually make it 100 times more likely I will win?

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