Fox News: Buy All The Lottery Tickets You Can Afford

Business Insider, shockingly, says this a terrible strategy. They write:

On Monday morning, liberal media watchdog group Media Matters tweeted a screenshot from a Saturday Fox and Friends segment advising a simple strategy for maximizing your chances of winning the lottery: Buy as many tickets as you can afford.

This is technically true. Buying more lottery tickets does increase your chances of winning the lottery. In Powerball, there are 292,201,338 possible tickets. Buy one ticket, and you have a one in 292,201,338 chance of winning the jackpot. Buy two tickets, you have a two in 292,201,338 chance. And so on.

The above-linked article goes on to list the usual probabilities about death by lightning, plane crashes, etc.