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Cool longread on some dude who scammed the lottery out of millions
| low-t shimmering azn | 03/24/18 |
| Marvelous slate theater stage volcanic crater | 03/24/18 |
| Sticky range degenerate | 03/24/18 |
| Marvelous slate theater stage volcanic crater | 03/24/18 |
| Sticky range degenerate | 03/24/18 |
| Harsh Clown | 03/24/18 |
| Sticky range degenerate | 03/24/18 |
| sexy exhilarant trust fund | 03/25/18 |
| boyish bat shit crazy son of senegal space | 03/25/18 |
| Sticky range degenerate | 03/24/18 |
| contagious self-centered kitchen knife | 03/24/18 |
| magical stag film nibblets | 03/24/18 |
| Floppy hell toilet seat | 03/24/18 |
| multi-colored garrison national security agency | 03/24/18 |
| Gaped Den | 03/24/18 |
| Harsh Clown | 03/25/18 |
| spruce box office halford | 03/25/18 |
| Puce lay | 03/25/18 |
| sexy exhilarant trust fund | 03/25/18 |
| boyish bat shit crazy son of senegal space | 03/25/18 |
| Bespoke Seedy Nursing Home Deer Antler | 03/25/18 |
Poast new message in this thread
Date: March 24th, 2018 2:33 PM Author: low-t shimmering azn And the azns he battled with along the way
http://highline.huffingtonpost.com/articles/en/lotto-winners/ |
Date: March 24th, 2018 2:35 PM Author: Marvelous slate theater stage volcanic crater I read that, he was 180. (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678028) |
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Date: March 24th, 2018 2:36 PM Author: Sticky range degenerate Cliffs bro? (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678033) |
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Date: March 24th, 2018 2:41 PM Author: Marvelous slate theater stage volcanic crater Minnesota had a lottery game that had a flaw related to max payouts, every time the payout got above $2 million the expected value of a $1 ticket was greater than $1. So this grandpa shopkeeper and his wife basically start a hedgefund to manually buy hundreds of thousands of tickets. The game in Minnesota gets shut down but they notice that Massachussets has a similar game so they start going there whenever the drawdown is triggered. But it turns out there are two other cartels operating there, one at MIT. The MIT team actually starts manipulating the lottery to keep the other cartels out. Grandpa figures out what's going on so it becomes kind of a cat and mouse game. The Massachussets lottery ignores it because they are profiting and it becomes a huge scandal.
The funniest part was they had to rent a storage locker to store all losing tickets for tax purposes. |
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Date: March 24th, 2018 2:49 PM Author: Sticky range degenerate 180 have to read this now ty (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678124) |
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Date: March 24th, 2018 2:59 PM Author: Harsh Clown 180 but please copy and paste cuz fuck huffpo (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678193) |
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Date: March 24th, 2018 3:00 PM Author: Sticky range degenerate The story is great but jfc at the lib puff shit (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678200) |
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Date: March 25th, 2018 6:14 AM Author: sexy exhilarant trust fund Michigan. And they used their barn. (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35682288) |
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Date: March 25th, 2018 6:48 AM Author: boyish bat shit crazy son of senegal space The larger payouts when the jackpot exceeds $2 million are not a "flaw". It did exactly what it was designed to do, which is to generate buzz and lure more people into playing.
Who the larger payouts went to wasn't a concern for the state -- they knew exactly what was going on and explicitly gave permission for the individual ticket vendors to sell mass quantities.
The state was always making their profits off the ticket sales, even from the "cartels". |
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Date: March 24th, 2018 2:52 PM Author: Sticky range degenerate "All of a sudden, he experienced the puzzle-solver’s dopamine hit of seeing a solution shine through the fog"
Fuck huffpo libs for bringing reductionist science into a fucking story like this. |
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Date: March 24th, 2018 3:01 PM Author: contagious self-centered kitchen knife I ducking love science (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678208) |
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Date: March 24th, 2018 3:32 PM Author: magical stag film nibblets 180 read thanks (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678403) |
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Date: March 24th, 2018 3:58 PM Author: Floppy hell toilet seat Good read (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678517) |
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Date: March 24th, 2018 4:31 PM Author: multi-colored garrison national security agency 180 story ty (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678690) |
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Date: March 24th, 2018 4:33 PM Author: Gaped Den c&p (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35678705) |
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Date: March 25th, 2018 2:21 AM Author: Harsh Clown (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35681942) |
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Date: March 25th, 2018 5:23 AM Author: spruce box office halford How much did the MIT group make? (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35682261) |
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Date: March 25th, 2018 5:26 AM Author: Puce lay LJL at efficient markets such that even a lottery scam gets exploited by too many people. (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35682262) |
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Date: March 25th, 2018 6:14 AM Author: sexy exhilarant trust fund 180 (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35682289) |
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Date: March 25th, 2018 6:36 AM Author: boyish bat shit crazy son of senegal space No one scammed the lottery (the state/operators of the lottery).
The Cash Winfall games had essentially two different phases. A normal phase that runs like a normal lottery (with shitty expected returns at 0.6). If no one hit the jackpot after accruing $2MM, that money becomes a "Winfall". The expected return in the Winfall phase was something like 1.15.
If anyone was "scammed" it was the earlier groups of people paying in the Winfall amount. The lottery is always making their share of the money, even off people who bought during the second phase. |
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Date: March 25th, 2018 12:52 PM Author: Bespoke Seedy Nursing Home Deer Antler Great read. 180 find, tyty. (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35683608) |