July 30, 2022
image source,Jerry Selbee
Selbys crack Michigan and Massachusetts lotto, win $26 million
Winning the lottery is the dream of many people, but the old American couple used simple mathematical calculations and carefully studied the rules of the lotto. They legally won dozens of lottos in 10 years, and the winnings were as high as 26 million US dollars. How is it done?
For nearly 10 years from 2003 to 2012, Jerry and Marge Selbee won the lottery in two states in the United States. Mr. Selby said the secret of his winning is actually very simple. It only took him “three minutes” to do the arithmetic, and it wasn’t illegal at all.
Their saga of winning the lottery was also adapted into a Hollywood film, “Jerry & Marge Go Large,” which was released last month.
The film is directed by David Frankel, director of The Devil Wears Prada, and stars Bryan Cranston and Annette Bening Play the Selbys.
Director David Franco said the film added some originality to the Selbys’ saga, but it faithfully reflected the simple lives of the Selbys and the fact that they were not so much affected by winning the lottery so many times. Got dizzy.
“Basic Arithmetic”
The Selbys’ story is nothing short of unremarkable compared to the lavishness and lavishness of the characters in the Hollywood movie “The Wolf of Wall Street.”
image source,Paramount+
The Selbys’ story is adapted into a movie by Hollywood
The two of them have lived all their lives in the small town of Everett, Michigan, where there are no major events, and they run a small convenience store on the town’s main street.
The story begins in 2003. After raising six children, the Selbys decided to sell the store to prepare for retirement. Suddenly, Mr. Selby saw a Windfall lottery advertisement one day.
He carefully studied the rules of the lottery game, and quickly calculated it in his mind, and found that the probability of winning the lottery was very high.
“I found a loophole,” Mr. Selby said in a 2019 interview with CBS Television.
To win the Windfall Lotto, a player must match all six numbers, and if no one hits all six, the winnings are distributed to those who match five, four and three.
According to this rule, the odds of winning a share of the winnings are much higher than the odds of winning the jackpot alone.
Mr. Selby reasoned from this that if he bought a lot of lottery tickets, the odds of winning would be high, and he calculated that if he spent $1,100 on lottery tickets, there was a good chance he would have picked at least one of the four winning numbers.
image source,Paramount+
Selbys invest time and money on lotto tickets
“I won $1,000 for a four-numbered win, and 18 threes for $50 each, so that’s $900.”
“So I spent $1,100 and got back $1,900. It’s just basic arithmetic.”
Open a company to buy lottery tickets
Americans spend about $70 billion a year on state lotto tickets, an average of $230 per person, according to the US Census Bureau.
Mr. Selby spends a lot more on the lottery than that, but also has a better chance of winning.
He bought more and more, once spending $3,600 and winning $6,300, and once spending $8,000 on a lottery ticket and winning back $16,000.
He told his wife about winning the lottery, so the couple started investing tens of thousands of dollars in lottery tickets, and later established GS Investment Strategies LLC to manage resources.
image source,Getty Images
Unlike many other lottos, in Michigan and Massachusetts, if no one hits all six numbers, the jackpot is shared among those who hit the other numbers.
Later, they decided to invite other people in the town to invest in the lottery company they set up, and they could invest $500 to get one share of the company’s stock.
Farmers and lawyers in the small town of Everett came to invest, winning ever-increasing lottery prizes, including $853,000 at one point, according to company books.
The company was profitable, but it also meant that the Selbys had to spend a lot of time buying lottery tickets, managing accounts and other corporate chores, which meant they were back at full-time jobs.
The Michigan Windfall lottery ended later, but a friend told them there was a similar lottery in Massachusetts called Cash Windfall.
After a few minutes of simple calculations, they knew they could continue to win money on this model, but now it would take more time to travel thousands of kilometers back and forth to buy lottery tickets.
Over a six-year period, the Selbys traveled across six states to buy Cash Windfall tickets at two betting shops in Massachusetts, spending an average of $600,000 per ticket, playing seven times a year.
In this massive project to buy lottery tickets across six states, they have to spend 10 days at a time in hotels and spend 10 hours a day manually sorting lottery tickets, which is definitely a full-time job.
Mr Selby, 80, said: “It gives you a sense of accomplishment, satisfaction and it’s worth it not just for ourselves, but for our friends and family.”
Is it illegal?
In 2012, the Boston Globe found that a number of lotto shops had drawn many winning tickets each time, and they found that it wasn’t just the Selbys who bought tickets on a massive scale, but a group of top MIT students. Also discover how to win this high stakes bet.
image source,Paramount+
Film depicts how the Selbys won awards
The Massachusetts state government launched an investigation, but they found nothing illegal.
State investigator Greg Sullivan said that at first everyone thought it must involve organized crime or corruption and other wrongdoing, but the investigation found that it was a few math geniuses who found a legal way to make millions of dollars.
Basically, anyone who calculates the odds of winning can win the jackpot in the same way, but this massive lottery winning model only works if no one hits all six numbers, otherwise it’s just The jackpot wins all prize money.
Even so, the Cash Windfall lottery is good business for the state of Massachusetts, earning $120 million from ticket sales alone.
Housing renovations and funding for education
Finally, the Cash Windfall lotto came to an end, and now there is no such lottery in the U.S. where the jackpot prize is shared by those who match other numbers.
image source,Paramount+
The Selbys and the two heroines
But the Selbys have pockets full of winnings, and Mr. Selby said that after deducting various taxes and company expenses, the two of them earned $8 million. Instead of wasting money on luxuries, they Used to renovate his own house and finance his grandchildren’s education.
Besides winning the prize money, the whole process felt like a thrilling adventure for both of them.
Mrs. Selby said, “It’s fun, it’s a lot of fun to win, and it’s a thrill.”
The two of them also attended the premiere of the film, and walked down the red carpet with the leading actors and actresses to experience what it’s like to be a big star for 15 minutes.