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Profitable State Lottery

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  1. canad010 canad010 is offline

    Minneapolis, MN
    United States

    Posts: 346
    Joined: Feb 07

    Aug 2nd, 2011 (8/2/2011 4:47am)

    http://articles.boston.com/2011-07-3...-state-lottery

    TL;DR: Smart people determined that it is profitable to play the state lottery in MA.

    I wonder how many other loopholes are out there that have not been released to the public?!?
  2. AmSlim22 AmSlim22 is offline

    Port Jefferson, NY
    United States

    Posts: 8,630
    Joined: Jan 06

    Aug 2nd, 2011 (8/2/2011 5:04am) in reply to canad010

    awesome.
     
  3. skeeze666 skeeze666 is offline

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    Aug 2nd, 2011 (8/2/2011 5:12am) in reply to AmSlim22

    Just read the entire thing and all I can say is...awesome... I love it when smart people take advantage of a flawed system legally. I'd like to think that could be me some day forking over 300k for lottery tickets knowing with almost 100% certainty that I would make money.

    I would also like to use 300k for other stuff... but buying lottery tickets with an almost automatic positive win expectation is pretty cool too.
  4. canad010 canad010 is offline

    Minneapolis, MN
    United States

    Posts: 346
    Joined: Feb 07

    Aug 2nd, 2011 (8/2/2011 5:41pm) in reply to skeeze666

    Yeah, the concept seems like it is applicable to all state lotteries that have some type of cap on them.

    Its a perfect scenario because they dont really publicize the people who win the second biggest prize.. the only time it gets on tv is when the big jackpot is hit!
    Thread Starter
  5. skeeze666 skeeze666 is offline

    United States

    Posts: 8,163
    Joined: Nov 06

    Aug 2nd, 2011 (8/2/2011 6:01pm) in reply to canad010

    Well it appears it is only worth the risk in this lottery because of the way they funnel down the prize money after it gets too high... it wouldn't be worth it in most of them because unless you actually hit the jackpot you lose money... in this case they make hundreds of thousands off the inflated smaller prizes.
  6. Niceguy Niceguy is offline I will find you.

    NV
    United States

    Posts: 18,944
    Joined: Jul 06

    Aug 2nd, 2011 (8/2/2011 6:06pm) in reply to skeeze666

    God for them, sucks for everyone else though.
  7. HK_MP5N HK_MP5N is offline

    Posts: 9,389
    Joined: Jul 05

    Aug 2nd, 2011 (8/2/2011 6:08pm) in reply to Niceguy

    Winners will always win, kudos to them!
  8. wackyJaxon wackyJaxon is offline Admin X

    Vilnius
    Lithuania

    Posts: 12,260
    Joined: Apr 06

    Aug 2nd, 2011 (8/2/2011 7:40pm) in reply to canad010

    Very awesome, but wonder if everyone got paid. Seems a couple of operators got permanently shut down for violations, including let the customers print their own tickets.

    From Page 2,

    Within days, the lottery suspended ticket-selling privileges at Billy’s, Jerry’s, and five other stores after agency inspectors discovered violations, such as printing out Cash WinFall tickets for bettors who were not there. However, lottery officials stressed that stores did not tamper with the machines that generate the tickets or otherwise aid the gamblers.

    From Page 5, attempting to close the loop-hole.

    "The lottery temporarily suspended those seven from selling tickets, and all will be barred from selling more than $5,000 worth of Cash WinFall tickets a day in the future. Of the seven stores, only Billy’s and Jerry’s remain under suspension."
      1 
  9. Jokerluelz Jokerluelz is offline

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    Aug 2nd, 2011 (8/2/2011 8:29pm) in reply to wackyJaxon

    The problem With this Is that The people not smart enough or rich Enough Keep playing thinking their chances are the same % of everyone else and what they are doing really is just paying off the people that have the system Worked out and Buy $300,000 in tickets .. It's sad really .. And if I lived there I would boycott that shit until they change the loop hole. why should one person have an advantage over another just because they can afford to purchase $300,000 in tickets. that trickle down jackpot shit is for the birds
  10. canad010 canad010 is offline

    Minneapolis, MN
    United States

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    Aug 2nd, 2011 (8/2/2011 9:20pm) in reply to Jokerluelz

    Well, from what it sounds like all of the tickets are just as profitable as the others assuming they are bought at the right time, its just that the average person cant spend enough to avoid the variance in a $2 lottery ticket.

    In other words, everyone has the same odds, just with different levels of variance. Honestly, it seems pretty fair to me.
    Thread Starter
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