"The activity of Cash WinFall's high-volume bettors understandably attracted a lot of attention when it was described in the.
Michelle Shufflers husband randomly purchased a lottery ticketand won 10,000.
"I just multiplied it out the roulette max giesinger charts 79-year-old told, the Huffington Post this week.Would You Do It If You Could?The odds are the same."You want to bring in as many players as possible."And then I said, 'Hell, you got a positive return here."Cash WinFall isn't being played as a game of chance MIT-educated statistician Mohan Srivastava told the paper at the time.North Carolina Education Lottery).Two other gambling syndicates had figured it out as well one led by a group of MIT students, and another by a biomedical researcher at Boston University.But with all the money pouring in the lottery association finally figured out the loophole after paying out large amounts to small groups like this.But as more people buy more tickets, the chances of winning the jackpot are obviously more than slim.The gambling website claims that David Cameron, Tony Blair, Margaret Thatcher, Winston Churchill, John Major and Neville Chamberlin would have won 3,659,316 if they had played their birthday numbers.
When the jackpot hit the roll-down threshold, Cash WinFall became a good bet for everyone, not just the big-time bettors.".
The jackpot would go to anyone who picked all six.
Jerry and Marge Selbee made national headlines in 2011 after a, boston Globe article exposed how small groups of high-stakes gamblers were making massive profits every three months by buying hundreds of thousands of dollars worth of lottery tickets.
There are a number of applicable investing lessons from the story of Jerry and Marge Selbee.
The craziest part of this story to me is that the odds were explicitly spelled out for anyone to see: The brochure listed the odds of various correct guesses.The report highlighted that the entire point of the game was to attract a "huge influx" of betting by distributing a windfall to betters whenever the jackpot reached 2 million, so the emergence of individuals and groups buying large volumes of tickets was "legal and.It was perfectly legal and they won the lottery on thousands of occasions.With the jackpot spilling over, each winning three-number combination would put 50 in the players pocket instead of 5, and the four-number winners would pay out 1,000 in prize money instead of 100, and all of a sudden, the odds were in your favor.I love the fact that a guy who was interested in solving puzzles from a small town could figure something like this out on his own and win big.