Surely one could easily replicate this “lottery” by buying path-dependent options with low exercise probability on the financial markets. People are not doing this, so this service must be less appealing than it intuitively seems.
I wonder what the odds actually are on “striking it rich” in a short period of time by treating financial markets as a gambling game. Is it better or worse than, say, the roulette wheel in a casino? If you bet $30,000 on a single number in a roulette wheel, you have a one in 38 chance of getting a 35x payout of $1,050,000. Can the financial markets give you a better than 1 in 38 chance of turning $30,000 into over $1,000,000 within a year before you lose your initial stake?
Surely one could easily replicate this “lottery” by buying path-dependent options with low exercise probability on the financial markets. People are not doing this, so this service must be less appealing than it intuitively seems.
I wonder what the odds actually are on “striking it rich” in a short period of time by treating financial markets as a gambling game. Is it better or worse than, say, the roulette wheel in a casino? If you bet $30,000 on a single number in a roulette wheel, you have a one in 38 chance of getting a 35x payout of $1,050,000. Can the financial markets give you a better than 1 in 38 chance of turning $30,000 into over $1,000,000 within a year before you lose your initial stake?