Why are thousands of people spending millions of dollars in hopes of winning a Powerball jackpot that the odds say they have little chance of winning? Drake University psychology professor and gambling expert, Scott Wood, says the answer doesn’t involve any complicated investigation of the human psyche. He says it’s simply wishful thinking — as most people would never have the opportunity to make multi-millions. Wood says hoping to become an instant millionaire isn’t something unique to the United States. He says lotteries have been around a long time in other countries.Wood says the proliferation of gambling makes it easier for people to plunk down a dollar or two on a lottery drawing. Especially in Iowa, where there is all sorts of state approved gambling. Wood says most people don’t understand the 80-to-one odds involved in the latest 280-million dollar jackpot. Woods says those odds are equivalent to taking the names of every resident of California, Texas, Florida and New York, putting them in a hat and drawing out one name. He says though, if you’re just looking at it as entertainment, spending a buck for a chance at multi-millions isn’t all that bad.
