[mrDmrTmrJ]

Because, to quote your comment, "their customers are mostly unsophisticated."

And, part of the appeal of the product, is they only pay out if *all of them are in the money. Hence the "lotto-like" return profile.

[quamserena]

While Robinhood users are unsophisticated (seriously use another brokerage…) I think that they would see through this.