There has been a lot of chatter this week about the Walkabout Joker Draw. The jackpot is now up to a massive $17,153. That buys a lot of cheap Chinese condoms. The purpose of this article is to analyze whether it’s a “smart wager” or a “sucker’s bet” to enter the Joker Draw this week or in any other weeks.

As many readers know, the Joker Draw begins with 53 playing cards placed face down on a board that is mounted in the Walkabout Bar. One of those cards is a Joker. Each Friday, the bar sells numbered drawing tickets for $1 each and places them in a drum. One ticket is drawn from the drum at about 9 p.m. and that ticket number is called out.

If your ticket number is called, you then get to turn over one of the face down cards from the board. If you turn over the Joker, you win the designated jackpot. If yo?>...