MIT students scammed State Lottery for $8 million
nydailynews.com
nydailynews.com
If you think this is just "playing the rules to maximum effect", that's fine, but consider whether that sentiment will cost you in a later debate about Wall Street.
Plus with Wall Street whilst they play the rules to maximum effect, they often seem to step outside the rules and they're frequently not just playing with the $10 Joe Smith paid on Friday for his ticket, but with the entire retirement savings of Bill Brown.
It's pretty morally shady whichever way you cut it, but there's definite shades in there.
Back in college, one of the guys I worked with would manage a 'numbers' game for one of his 'uncles.' He had an encyclopedic knowledge how the state lottery worked, and how to prevent oneself from falling afoul of state laws with regards to gambling.
Like any gambling, the house always wins - in this instance, the house is the state or whatever corporate entity that the state leases its legalized stupid tax operation to.
It says they had 8 million in winnings, but they spent nearly 40 million dollars to secure that 8 million in winnings. That's 20% ROI over seven years. They could have put the money in a CD and earned almost as much or more.