How MIT students beat the lottery
August 8, 2012 5:28 AM Subscribe
Beating the system:
posted by DanCall (45 comments total)
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The Boston Globe reports how a group of MIT students beat the Massachusetts state lottery by working out that you were almost guaranteed to get a return on the game Cash Win Fall at certain times, and only buying tickets at that point. It's reckoned that they made $48m on a $40m stake over several years, that other syndicates were also involved, and the state 'bent and broke' the rules by allowing them to buy tickets in bulk. The game was closed down after the Globe started to investigate.
Some publications are calling this a scam (NY Daily News
- headline updated but url still says 'scam'), but it's clearly the case that the game and its management was at fault.
Earlier on the Blue - a mathematician works out how to predict which scratch cards will win