I think it's still probably better to throw all the money down on an unlikely sports bet or some crazy options trade. The lottery is particularly skewed to the house.
You can buy a lottery ticket for every single big jackpot for a year and lose less than your average options trader. The value is the feeling you get that you and your family might not have to work for the rest of your lives. That feeling is clearly and obviously worth a dollar a day.
At least with sports betting skill can make money. Just betting on the first place team to win over the last place team for example, it won't always win, but typically will. Of course bookies know this and so the payoff isn't enough to make a living on (if you can figure out the exception and bet only on the last place teams that win you can live well). Statistics are generally well studied in sports, but if you study how a team is coached you can find cases where they have a better than statistical chance to win a game they are expected to lose. Most people betting sports either always bet for their team, or bet on statistics, so if you can exploit something else.
I can see a potential problem here in that a sizeable win from a random bet is likely to encourage some people to keep making these bets in future, with inevitable consequences.