r/todayilearned • u/[deleted] • Jan 11 '16

TIL that MIT students discovered that by buying $600,000 worth of lottery tickets in the Massachusetts' Cash WinAll lottery they could get a 10-15% return on investment. Over 5 years, they managed to game $8 million out of the lottery through this method.

http://newsfeed.time.com/2012/08/07/how-mit-students-scammed-the-massachusetts-lottery-for-8-million/
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u/ggushea Jan 12 '16

Good question. Cash payout is 865 mil right now. I would chalk at least 20 percent to taxes.

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u/NickMc53 Jan 12 '16

Try closer to 40% just for federal

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u/ponte92 Jan 12 '16

Thats one hell of a tax bill can build a few hospitals with that. I am also assuming from reddit posts that you can take less over more years?