The joy of lottery play: evidence from a field experiment Experimental Economics

Although winners reported to be happier and less disappointed, winners and non-winners did only marginally differ regarding the other experienced emotions regarding the draw (see Fig. 2). Gambling 4D is a popular lottery game in Southeast Asia that offers daily draws, where players can choose four-digit numbers (ranging from 0000 to 9999) for a chance to win big prizes. The game is known for its transparency, fairness, and exciting prize opportunities.

Since the lottery’s start in 1985, its players have won more than $6 billion in prizes while the lottery
has raised more than $2.5 billion for the state programs that benefit all Iowans. Also known as , Nine Lotto is Cambodia’s exciting new lottery game offering draw daily with the potential for big wins. 9 Lotto is available at Malaysia through betting platforms like 4DMY. Players select 2-digit numbers, and wins are based on matching with drawn numbers.

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The official winning numbers are those selected in the respective drawings and recorded under the observation of an independent accounting firm. In the event of a discrepancy, the official drawing results shall prevail. You must be at least 21 years old to purchase Iowa Lottery tickets.

And, \(\gamma _1\)–\(\gamma _6\) are (vectors of) parameters. In the economics literature, several explanations for widespread lottery play have been put forward. Already at the end of the 1940s, Friedman and Savage (1948) argued that lottery 9 lotto play offers an opportunity to win substantial amounts of money and improve one’s socio-economic status at a relatively low stake. Players can also purchase the All Star Bonus® for an additional $1 per play to multiply non-jackpot prizes.

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Positive emotions after the draw may originate from winning a prize, even when the prize is only very small and lower than the purchasing price of the lottery ticket. In addition to the monetary utility of winning a prize, there may also be a non-monetary utility of winning unrelated to the magnitude of the prize (Sheremeta 2010). In particular, the Friedman–Savage theory suggests that lottery is predominantly played among the low and middle social classes. According to prospect theory, some people participate in lottery play because they largely overweight their small chances of winning. However, also this theory cannot explain widespread gambling because most lottery participants have quite rational expectations regarding the outcome of a draw (Forrest et al. 2000).

If the winner chooses the annuity, the annual payments will be increased each year by a percentage set out in the Lotto America Group Rules. Annuity payments are paid pursuant to Lotto America Group Rules and New Mexico State Law. Nine Lotto is a licensed lottery company based in Cambodia, officially established on 1 September 2022. As a trusted name in Malaysia’s growing gaming industry, Nine Lotto has quickly gained popularity by offering transparent, secure, and entertaining lottery games to players in Malaysia. Also called Nine Lotto, ai in gambling 4D is a famous game in Malaysia where you can win exciting prizes. It started in 2022 and quickly became popular among Malaysian players because its draw happen on a daily basis, and the draw process of the 9 Lotto results is clear.