Question: Americans spend almost 700 billion per year on legalized
Americans spend almost $ 700 billion per year on legalized gambling—roughly $ 200 billion more than they spend on groceries. Most Americans‚ however‚ also show evidence of risk aversion in other aspects of their behavior such as buying automobile‚ home‚ and life insurance. Why might Americans spend so much on legalized gambling if they also are typically risk averse?
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