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Old 04-16-2020, 02:46 PM   #37 (permalink)
Xist
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All that I am finding so far is that Mr. Beast made three videos where he bought thirty, fifty, and a hundred thousand dollars on lottery tickets "and won." Everything else is state lotteries promises becoming rich beyond the dreams of avarice except:
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Since only six out of every 100,000 tickets yield a prize between $1,000 and $5,000
So, spend $100,000, and win back six to thirty thousand dollars.

What if I spend a million dollars on lottery tickets?!
Quote:
In 1991, James "Whitey" Bulger, a notorious South Boston mob boss currently on the FBI's 10 Most Wanted Fugitives listĀ—he's thought to be the inspiration for the Frank Costello character in The DepartedĀ—and three others cashed in a winning lottery ticket worth $14.3 million. He collected more than $350,000 before his indictment.
Quote:
most lotteries return only about 53 cents on the dollar
Quote:
if organized crime had a system that could identify winning tickets more than 65 percent of the time, then the state-run lottery could be turned into a profitable form of money laundering.
All of this seems to be based on finding cashiers that would exchange unscratched tickets. This story is about a statistician that received a few lottery tickets as a joke and he was able to recognize winners 90% of the time. He claims that he was excited about the challenge and he calculated that he could earn $600 an hour, but that was less than he earned as a statistician, and would require him going to every convenience store in the area and spending hours staring at tickets [before exchanging losing cards].

He mentioned that a computer setup could be faster. Buy thousands of cards, scan them with a computer, separate the winners from the losers, exchange the losers, and redeem the winners.

Weirdly, they concluded that this means the lottery isn't in a state of "So you're saying there's a chance," it was rigged against you by people smarter than you.

Wait, so your chances go from one in a million to one in two million and the problem is people figuring out how to increase the odds against you, not them always being against you? Cracking the Scratch Lottery Code
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