Quick thread on prize savings / no loss lotteries because so many people misunderstand or underestimate them. https://abs.twimg.com/emoji/v2/... draggable="false" alt="🧐" title="Gesicht mit Monokel" aria-label="Emoji: Gesicht mit Monokel">
This is an extremely important financial tool for people who aren& #39;t already rich.

Articulated well by the National Bureau of economic Research (source: https://www.nber.org/system/files/working_papers/w16433/w16433.pdf)">https://www.nber.org/system/fi...
https://abs.twimg.com/emoji/v2/... draggable="false" alt="2️⃣" title="Tastenkappe Ziffer 2" aria-label="Emoji: Tastenkappe Ziffer 2">Why are prize savings not actually lotteries?

Mathematically speaking, prize savings are ALWAYS expected value positive. Lotteries are ALWAYS expected value negative.

Is a non-alcoholic beer actually a beer? No.
In fact, research has universally shown prize savings / no loss lotteries redirect money away from lotteries. Citing just one study below.

https://www.hbs.edu/faculty/Pages/item.aspx?research=7617">https://www.hbs.edu/faculty/P...
https://abs.twimg.com/emoji/v2/... draggable="false" alt="3️⃣" title="Tastenkappe Ziffer 3" aria-label="Emoji: Tastenkappe Ziffer 3">Prize savings are a new idea.

No! London, 1965. Chancellor of the Exchequer introducing no loss lotteries. The program is now has $100 billion deposited and 1/3 adults in the UK hold accounts.
https://abs.twimg.com/emoji/v2/... draggable="false" alt="4️⃣" title="Tastenkappe Ziffer 4" aria-label="Emoji: Tastenkappe Ziffer 4"> It& #39;s just a way for the rich to get richer.

No! Large deposits have a chance to win small prizes (relative to deposit)

Small deposits have a chance to win HUGE prizes (relative to deposit)

It offers exponential returns without requiring huge amounts of capital and risk.
https://abs.twimg.com/emoji/v2/... draggable="false" alt="5️⃣" title="Tastenkappe Ziffer 5" aria-label="Emoji: Tastenkappe Ziffer 5"> Prize savings are better on Ethereum.

Yes! Way better, by building a decentralized protocol that is verifiably fair and perpetually growing. It& #39;s scalable, efficient, secure, and offers better returns for all depositors. Prize savings is uniquely suited for user ownership.
If building a 10x better version of one of the most important consumer financial primitives in the world excites you then join the @PoolTogether_ community!

Discord: https://discord.gg/hxPhPDW 
Governance:https://discord.gg/hxPhPDW&q... href=" https://gov.pooltogether.com/ ">https://gov.pooltogether.com/">...
You can follow @lay2000lbs.
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