News
Harvard Quietly Resolves Anti-Palestinian Discrimination Complaint With Ed. Department
News
Following Dining Hall Crowds, Harvard College Won’t Say Whether It Tracked Wintersession Move-Ins
News
Harvard Outsources Program to Identify Descendants of Those Enslaved by University Affiliates, Lays Off Internal Staff
News
Harvard Medical School Cancels Class Session With Gazan Patients, Calling It One-Sided
News
Garber Privately Tells Faculty That Harvard Must Rethink Messaging After GOP Victory
A system designed by Harvard Physics graduate students for playing the Massachusetts State Lottery "Numbers Game" turned a $400 profit in its first nine weeks of operation, one of the students said yesterday.
According to John Sheiman, betting with the system began the second week of August. Bets were made from a pool of $1 200, collected from graduate students in $100 shares.
Sheiman declined to disclose details of the system, but he said it gave participants roughly a 60 per cent chance of breaking even or turning a profit. He estimated the chance of losing the entire pool in the lottery as "less than one per cent."
The major value of the betting system, Sheiman said, "is entertainment value."
Sheiman refused to speculate on future lottery betting. But Kambiz A. Safinya, another of the graduate students, said the group is "going all out for another month and betting $50 a day."
The Numbers Game is a parimutuel system. Payoff on the randomly-selected winning number varies inversely with the number of bettors who select that number. Gamblers may play various number combinations in three- and four-digit games.
Want to keep up with breaking news? Subscribe to our email newsletter.