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Cool longread on some dude who scammed the lottery out of millions
| slate floppy boiling water | 03/24/18 |
| Titillating opaque business firm | 03/24/18 |
| Adventurous Quadroon | 03/24/18 |
| Titillating opaque business firm | 03/24/18 |
| Adventurous Quadroon | 03/24/18 |
| Autistic mauve church building turdskin | 03/24/18 |
| Adventurous Quadroon | 03/24/18 |
| insane federal gay wizard | 03/25/18 |
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| Adventurous Quadroon | 03/24/18 |
| Alcoholic home | 03/24/18 |
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| Glassy associate house | 03/24/18 |
| Hairless Impertinent Senate | 03/24/18 |
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| Autistic mauve church building turdskin | 03/25/18 |
| dark aphrodisiac piazza | 03/25/18 |
| appetizing crystalline menage hissy fit | 03/25/18 |
| insane federal gay wizard | 03/25/18 |
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| Bonkers glittery nursing home therapy | 03/25/18 |
Poast new message in this thread
Date: March 24th, 2018 2:33 PM Author: slate floppy boiling water 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: Titillating opaque business firm 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: Adventurous Quadroon 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: Titillating opaque business firm 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: Adventurous Quadroon 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: Autistic mauve church building turdskin 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: Adventurous Quadroon 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: insane federal gay wizard 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: chrome national security agency factory reset button 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: Adventurous Quadroon "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: Alcoholic home 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: Twinkling Razzle Sanctuary 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: Glassy associate house 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: Hairless Impertinent Senate 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: jet-lagged racy casino boltzmann 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: Autistic mauve church building turdskin (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: dark aphrodisiac piazza 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: appetizing crystalline menage hissy fit 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: insane federal gay wizard 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: chrome national security agency factory reset button 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: Bonkers glittery nursing home therapy Great read. 180 find, tyty. (http://www.autoadmit.com/thread.php?thread_id=3927791&forum_id=2#35683608) |