"Buying $600,000 worth of tickets virtually guaranteed a 15-20 percent return on investment. The initial premise was proven by James Harvey, who turned $1,000 in tickets into $3,000 Feb. 7, 2005. He immediately made the ‘project’ larger, forming Random Strategies Investments and spending hours filling out betting slips and lining up eager financers. Within a few years, more groups popped up, but the MIT group figured out how to win the whole jackpot in a single drawing by 2010."
“MIT Students Scammed Massachusetts State Lottery for $8 Million.” Yes, someone needs to stop these kids and their “math,” so the lottery can proceed with its avowed function of ripping off poor people. (via Bill Wasik)
