Investing in Lottery Tickets?

From 1992:

In Virginia this month, one investment group came tantalizingly close to cornering the market on all possible combinations of six numbers from 1 to 44. State lottery officials say that the group bought tickets for 5 million of a possible 7 million combinations, at $1 each, in a lottery with a $27 million jackpot. Only a lack of time prevented the group from buying tickets for the remaining 2 million combinations.

Do companies do stuff like this anymore? Seems like you could work the odds by doing all the number combinations like this example.

Did they end up winning?

Such a strategy should take into account the possibility of multiple winners.

And taxes. And multiple people usually win these enormous jackpots so yes

They won $27 million ticket value with $5 million investment

After taxes, fees, and everything - I bet it was just nice to win, but definitely not life changing for those at the firm

Seems like it’d be easy enough to get a probability for that, though. And yes, I think they won.