If I did the math correctly, a positive-EV lottery is still guaranteed to make money for the state, because the total value of tickets purchased always exceeds the jackpot.
The lottery is always negative-EV for the average ticket-buyer, but it can sometimes be positive-EV for the marginal ticket-buyer.
The lottery is always negative-EV for the average ticket-buyer, but it can sometimes be positive-EV for the marginal ticket-buyer.