[mcconaughey]

It is rational in many cases to gamble at low levels of wealth. The difference between $1,000 in net worth and $0, or $10K and 0, is infinitesimal. At extremely low levels of utility, it doesn't really matter.

Kelly criterion only applies if you have a substantial bag already. Then, you can size your bets according to probability.

For the lower wealth strata, they need to target convex payoffs, however. Lottery, meme coins, otm options (like the Gamestop situation) make sense. Things with a more linear payoff, such as sports betting (only double if you win the coin flip), less so.

[dahfizz]

Depends on what your goals are, I suppose. The difference between $10k in the bank and $0 in the bank is gargantuan when you need to buy groceries for your kids.

[abduhl]

This comment is so out of touch that it almost has to be a parody. The people spending money on scratchers instead of buying groceries don’t ever have the option to have $10k in the bank. These people have probably only seen a comma in their bank account once.

What are you talking about?

[dahfizz]

I'm talking about the comment I responded to??

> The difference between $1,000 in net worth and $0, or $10K and 0, is infinitesimal