Book · An Inquiry into the Wealth of Nations
Page 282 of 2651
Author: Adam Smith
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In a lottery in which no prize exceeded twenty pounds, though in
other respects it approached much nearer to a perfectly fair one
than the common state lotteries, there would not be the same
demand for tickets. In order to have a better chance for some of
the great prizes, some people purchase several tickets; and
others, small shares in a still greater number. There is not,
however, a more certain proposition in mathematics, than that the
more tickets you adventure upon, the more likely you are to be a
loser. Adventure upon all the tickets in the lottery, and you
lose for certain; and the greater the number of your tickets, the
nearer you approach to this certainty.
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