It is tricky. The expected value is mathematics term people invented for easy calculation.  It is different from the &quot;value&quot; in human perception.<p>How much is a $1 lottery ticket worth?  It is probably 40 cents depending on the probability. It&#x27;s worth zero for all the people who lose and millions of dollar for the luck one.  There is no &quot;between&quot; value which is what expected value represents.