Originally Posted by JLuke
Odds of winning the lottery 1 in 176 million
Amount of jackpot 540 million, or about 350mil for cash in hand
Step 1. Go get a loan for 176 million dollars, buy one ticket for every single possible combination of numbers
Step 2. Now have a 1 in 1 chance of winning lottery
Step 3. profit
I'm a genius, why hasn't anyone thought of this before?
This has been done before. The logistics on it are the risk. I remember watching a piece on a group that did just this. Problem was that they needed to hire people to buy tickets. The result of the amount of tickets being bought was causing the systems to crash. They ended up NOT getting all tickets purchased in time but lucked out and won the prizes.
And with having that many tickets, you not only would win the grand prize but also second, third, etc prizes.
Oh and then there is the issue of getting a loan that size