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Thread: MIT Students Outsmart Lottery Officials for ~3.5 million Profit

  1. #1
    Member ervinsm84's Avatar
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    Jul 2011
    West Chester

    MIT Students Outsmart Lottery Officials for ~3.5 million Profit

    You can read the Office of Inspector General's Full Report on the case here if you'd like.


    Pretty awesome they figured out that there are certain times that a lotto ticket in that specific game has a +EV$ due to the roll down process of the payouts.

    As someone who always laughs about the lottery being nothing more than a tax on the poor bc every ticket I had ever seen had a negative expectation, I think it's really cool a group of people found a way to turn a legit profit. Yes it took a specific set of circumstances due to a stupidly structured and flawed payout system that led to each ticket being worth a ~12-15% more than it cost, but more power to them for making a massive amount of $ off it.

    Pretty interesting stuff in the pdf too about the logistics that go in to buying anywhere from 200,000 to even 700,000 lotto tickets for one drawing.

    Joey Votto does not care about RBI.


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  3. #2
    Member Redhook's Avatar
    Join Date
    May 2006

    Re: MIT Students Outsmart Lottery Officials for ~3.5 million Profit

    That's amazing. I read about a third of the article and found it very interesting. I'll read the rest later. Thanks for sharing.
    "....the two players I liked watching the most were Barry Larkin and Eric Davis. I was suitably entertained by their effortless skill that I didn't need them crashing into walls like a squirrel on a coke binge." - dsmith421

  4. #3
    Join Date
    Aug 2002

    Re: MIT Students Outsmart Lottery Officials for ~3.5 million Profit

    Wow that is fascinating - I'd love to see a movie about this story. Thanks for the link.

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