Brad Reagan

But, you know, as the scrutiny continues and as the political fallout plays out, it will be interesting to see if anyone tries to come after their jackpot and also whether this becomes a fatal blow for the Texas lottery.

But, you know, as the scrutiny continues and as the political fallout plays out, it will be interesting to see if anyone tries to come after their jackpot and also whether this becomes a fatal blow for the Texas lottery.

And then eventually you've got all six numbers there.

And then eventually you've got all six numbers there.

I think the issue is just that to some people it doesn't feel fair.

I think the issue is just that to some people it doesn't feel fair.

And we've talked to some people. There's a lottery watchdog down in Texas, and her position is, like, this is supposed to be for the people of Texas. It's not, you know, for outsiders to come in and steal our jackpots and take it to London or Tasmania. So I... I understand that anger. It does seem perhaps a little bit misplaced because these guys took advantage of the rules that were on the books.

And we've talked to some people. There's a lottery watchdog down in Texas, and her position is, like, this is supposed to be for the people of Texas. It's not, you know, for outsiders to come in and steal our jackpots and take it to London or Tasmania. So I... I understand that anger. It does seem perhaps a little bit misplaced because these guys took advantage of the rules that were on the books.

52, 30, 5, 18, 29, and the sixth and final number, three.

52, 30, 5, 18, 29, and the sixth and final number, three.

Well, one of the things that we thought from the outset was it's the core story for the Wall Street Journal because one of the things we do a lot is write about how smart people solve problems. And these guys just figured out how to rig this thing. And they figured out how to beat the system. And people on Wall Street do it all the time. You know, that's why these bankers get paid the big bucks.

Well, one of the things that we thought from the outset was it's the core story for the Wall Street Journal because one of the things we do a lot is write about how smart people solve problems. And these guys just figured out how to rig this thing. And they figured out how to beat the system. And people on Wall Street do it all the time. You know, that's why these bankers get paid the big bucks.

And these guys are in a slightly different market, but they're kind of doing the same thing. I know the phrase that Wall Street's just a casino gets thrown around, and I don't mean to be glib like that, but these guys are looking to find mispriced opportunities or opportunities in the market that can be exploited. That's all this is.

And these guys are in a slightly different market, but they're kind of doing the same thing. I know the phrase that Wall Street's just a casino gets thrown around, and I don't mean to be glib like that, but these guys are looking to find mispriced opportunities or opportunities in the market that can be exploited. That's all this is.

And then this lawyer out of New Jersey files a claim for the jackpot on behalf of his client. that is described as Rook TX. And according to Texas lottery rules, the winner has asked to remain anonymous, which is acceptable. And so this lawyer says, here's the winning ticket. My client wants to remain anonymous. Texas lottery says, great, here's your money.

And then this lawyer out of New Jersey files a claim for the jackpot on behalf of his client. that is described as Rook TX. And according to Texas lottery rules, the winner has asked to remain anonymous, which is acceptable. And so this lawyer says, here's the winning ticket. My client wants to remain anonymous. Texas lottery says, great, here's your money.

The lieutenant governor of Texas called it something like the biggest theft in the history of Texas, which seems a bit hyperbolic, but I think captures the anger.

The lieutenant governor of Texas called it something like the biggest theft in the history of Texas, which seems a bit hyperbolic, but I think captures the anger.

As best we can understand it, the story starts in London at a shop called White Swan Data, which is an organization that looks for gambling opportunities around the world.

As best we can understand it, the story starts in London at a shop called White Swan Data, which is an organization that looks for gambling opportunities around the world.

We've heard stories that these guys will hear reports of a roulette wheel that's slightly out of balance in some obscure country and they will just go there and gamble and gamble and gamble because they're just looking for that slight edge. These guys like to operate in the shadows. They don't want competition.

We've heard stories that these guys will hear reports of a roulette wheel that's slightly out of balance in some obscure country and they will just go there and gamble and gamble and gamble because they're just looking for that slight edge. These guys like to operate in the shadows. They don't want competition.

They don't want casinos and racetracks to know what they're doing because the odds will then shift against them. So they often disguise their activities or they try to stay under the radar. So there's a lot about them that is not known.

They don't want casinos and racetracks to know what they're doing because the odds will then shift against them. So they often disguise their activities or they try to stay under the radar. So there's a lot about them that is not known.

Heist stories are my favorite stories. That's exactly how we were looking at this from the beginning.

Heist stories are my favorite stories. That's exactly how we were looking at this from the beginning.

He used to work for a big investment bank, did some other things, but he's always been a gambler. His dad was a gambler. He's always been interested in gambling. And one of the things we learned about him is that his father instilled in him at an early age, you only gamble when you have an edge.

He used to work for a big investment bank, did some other things, but he's always been a gambler. His dad was a gambler. He's always been interested in gambling. And one of the things we learned about him is that his father instilled in him at an early age, you only gamble when you have an edge.

Exactly. He's not only strategizing, he's crunching the numbers in a very methodical way. It really is more like Wall Street traders approach buying a stock. It's like they want to know that the asset is underpriced or mispriced in a way that if they buy it, more often than not, they'll come out ahead.

Exactly. He's not only strategizing, he's crunching the numbers in a very methodical way. It really is more like Wall Street traders approach buying a stock. It's like they want to know that the asset is underpriced or mispriced in a way that if they buy it, more often than not, they'll come out ahead.

His partner is this guy, Zeljko Ranagajic. Maybe because his name's a little bit hard to pronounce, he's often gone by this nickname, The Joker. The Joker's, to me, the most fascinating part of this story. I mean, he is a legend in the gambling world. Some people over the years have called him the Loch Ness Monster because he's so rarely photographed. Wow.

His partner is this guy, Zeljko Ranagajic. Maybe because his name's a little bit hard to pronounce, he's often gone by this nickname, The Joker. The Joker's, to me, the most fascinating part of this story. I mean, he is a legend in the gambling world. Some people over the years have called him the Loch Ness Monster because he's so rarely photographed. Wow.

He's one of these characters that people know about. A few people know what he actually looks like. He's from Tasmania originally, which I think adds an extra layer of intrigue.

He's one of these characters that people know about. A few people know what he actually looks like. He's from Tasmania originally, which I think adds an extra layer of intrigue.

One fairly simplistic way to say it is, Marantelli looks for the opportunities, the Joker is the money man.

One fairly simplistic way to say it is, Marantelli looks for the opportunities, the Joker is the money man.

Get ready to play the Games of Texas for Saturday, April 22nd.

Get ready to play the Games of Texas for Saturday, April 22nd.

I think that's a pretty good comparison.

I think that's a pretty good comparison.

So sometimes people are rushing to the convenience stores. There's lines around the block. Everybody's buying lottery tickets. In this case, they realized that wasn't happening. And the reason that's important is because to maintain their profit margins, they want to be the only people that win.

So sometimes people are rushing to the convenience stores. There's lines around the block. Everybody's buying lottery tickets. In this case, they realized that wasn't happening. And the reason that's important is because to maintain their profit margins, they want to be the only people that win.

They don't want to split the jackpot.

They don't want to split the jackpot.

On the night of the drawing, they do it a little bit after 10 o'clock and it's kind of looks like almost like a cable access show.

On the night of the drawing, they do it a little bit after 10 o'clock and it's kind of looks like almost like a cable access show.

The total prize was getting close to 90 million.

The total prize was getting close to 90 million.

They wanted to do it as quickly as they could because there's obviously the risk that someone could win if they waited until the next draw. There was also the talk, we've heard that other big pro gambling outfits were circling and had seen this lottery. They're not the only ones out there who were kind of watching the jackpot creep higher and running the numbers.

They wanted to do it as quickly as they could because there's obviously the risk that someone could win if they waited until the next draw. There was also the talk, we've heard that other big pro gambling outfits were circling and had seen this lottery. They're not the only ones out there who were kind of watching the jackpot creep higher and running the numbers.

And so I think they felt like there was a little bit of competition and if they don't strike now, someone else could get to it first.

And so I think they felt like there was a little bit of competition and if they don't strike now, someone else could get to it first.

Tonight's Lotto Texas jackpot is an estimated $95 million.

Tonight's Lotto Texas jackpot is an estimated $95 million.

They had to get from London to Texas and execute this plan to buy and print all of these lottery tickets before the drawing.

They had to get from London to Texas and execute this plan to buy and print all of these lottery tickets before the drawing.

Lottery.com was having a lot of problems in its own business. And Lottery.com executives saw this as a huge business opportunity. These Europeans were going to come in and spend $25 million buying tickets. They saw that as a business opportunity because they get 5% of the sales. There's a little bit of an air of desperation in some of the emails.

Lottery.com was having a lot of problems in its own business. And Lottery.com executives saw this as a huge business opportunity. These Europeans were going to come in and spend $25 million buying tickets. They saw that as a business opportunity because they get 5% of the sales. There's a little bit of an air of desperation in some of the emails.

They were able to get dozens of these ticket printing machines They set them up in four locations around the state. One was a former dentist's office. One was a warehouse. So these were not glamorous locations, but they brought in rolls and rolls of paper because they have to print all these tickets.

They were able to get dozens of these ticket printing machines They set them up in four locations around the state. One was a former dentist's office. One was a warehouse. So these were not glamorous locations, but they brought in rolls and rolls of paper because they have to print all these tickets.

As best we can tell, it's 100% legal. Wow. These guys sought permission ahead of time, and they got approval, and they came in and did it.

As best we can tell, it's 100% legal. Wow. These guys sought permission ahead of time, and they got approval, and they came in and did it.

I mean, it was definitely an around-the-clock operation, and they were bringing in more people as soon as they could find them. Our understanding is some of them brought in their children to help with the printing and the filing. It was really an around-the-clock operation. I mean, they really wanted this thing to work.

I mean, it was definitely an around-the-clock operation, and they were bringing in more people as soon as they could find them. Our understanding is some of them brought in their children to help with the printing and the filing. It was really an around-the-clock operation. I mean, they really wanted this thing to work.

I don't think they actually bought every single combination. And one reason for that is because there are some numbers that you don't want to buy because they're so common. For example, one, two, three, four, five, six, too many people guess that number. And so if you buy that lottery ticket, you would almost certainly share it with other people.

I don't think they actually bought every single combination. And one reason for that is because there are some numbers that you don't want to buy because they're so common. For example, one, two, three, four, five, six, too many people guess that number. And so if you buy that lottery ticket, you would almost certainly share it with other people.

52.

52.

And the drama kind of builds and it's like, one number. And the second number is... 30.

And the drama kind of builds and it's like, one number. And the second number is... 30.

Once again, those lotto texts, those numbers are 52, 30, 5, 18, 29.

Once again, those lotto texts, those numbers are 52, 30, 5, 18, 29.

I live in London now, but I'm originally from Texas. My family's still in Texas. All my friends, or not all my friends, but a lot of my friends are in Texas.

I live in London now, but I'm originally from Texas. My family's still in Texas. All my friends, or not all my friends, but a lot of my friends are in Texas.

It really wasn't until late 2024, early this year, that people started talking about this. The state's lottery commission has come under fire over what's called... And it just gathered momentum.

It really wasn't until late 2024, early this year, that people started talking about this. The state's lottery commission has come under fire over what's called... And it just gathered momentum.

Texas Attorney General Ken Paxton announced this morning an investigation

Texas Attorney General Ken Paxton announced this morning an investigation

People started getting more and more upset and lawmakers would pile in. And then the governor of Texas jumped on and asked the Texas Rangers to investigate.

People started getting more and more upset and lawmakers would pile in. And then the governor of Texas jumped on and asked the Texas Rangers to investigate.

Two numbers, three numbers. That third number is... Five.

Two numbers, three numbers. That third number is... Five.

I think Barantelli and the Joker, as best we understand it, are trying to lay low. They gave us a statement through their lawyer saying that all rules and regulations had been followed. And as best we could tell, that is true.

I think Barantelli and the Joker, as best we understand it, are trying to lay low. They gave us a statement through their lawyer saying that all rules and regulations had been followed. And as best we could tell, that is true.

But, you know, as the scrutiny continues and as the political fallout plays out, it will be interesting to see if anyone tries to come after their jackpot and also whether this becomes a fatal blow for the Texas lottery.

And then eventually you've got all six numbers there.

I think the issue is just that to some people it doesn't feel fair.

And we've talked to some people. There's a lottery watchdog down in Texas, and her position is, like, this is supposed to be for the people of Texas. It's not, you know, for outsiders to come in and steal our jackpots and take it to London or Tasmania. So I... I understand that anger. It does seem perhaps a little bit misplaced because these guys took advantage of the rules that were on the books.

52, 30, 5, 18, 29, and the sixth and final number, three.

Well, one of the things that we thought from the outset was it's the core story for the Wall Street Journal because one of the things we do a lot is write about how smart people solve problems. And these guys just figured out how to rig this thing. And they figured out how to beat the system. And people on Wall Street do it all the time. You know, that's why these bankers get paid the big bucks.

And these guys are in a slightly different market, but they're kind of doing the same thing. I know the phrase that Wall Street's just a casino gets thrown around, and I don't mean to be glib like that, but these guys are looking to find mispriced opportunities or opportunities in the market that can be exploited. That's all this is.

And then this lawyer out of New Jersey files a claim for the jackpot on behalf of his client. that is described as Rook TX. And according to Texas lottery rules, the winner has asked to remain anonymous, which is acceptable. And so this lawyer says, here's the winning ticket. My client wants to remain anonymous. Texas lottery says, great, here's your money.

The lieutenant governor of Texas called it something like the biggest theft in the history of Texas, which seems a bit hyperbolic, but I think captures the anger.

As best we can understand it, the story starts in London at a shop called White Swan Data, which is an organization that looks for gambling opportunities around the world.

We've heard stories that these guys will hear reports of a roulette wheel that's slightly out of balance in some obscure country and they will just go there and gamble and gamble and gamble because they're just looking for that slight edge. These guys like to operate in the shadows. They don't want competition.

They don't want casinos and racetracks to know what they're doing because the odds will then shift against them. So they often disguise their activities or they try to stay under the radar. So there's a lot about them that is not known.

Heist stories are my favorite stories. That's exactly how we were looking at this from the beginning.

He used to work for a big investment bank, did some other things, but he's always been a gambler. His dad was a gambler. He's always been interested in gambling. And one of the things we learned about him is that his father instilled in him at an early age, you only gamble when you have an edge.

Exactly. He's not only strategizing, he's crunching the numbers in a very methodical way. It really is more like Wall Street traders approach buying a stock. It's like they want to know that the asset is underpriced or mispriced in a way that if they buy it, more often than not, they'll come out ahead.

His partner is this guy, Zeljko Ranagajic. Maybe because his name's a little bit hard to pronounce, he's often gone by this nickname, The Joker. The Joker's, to me, the most fascinating part of this story. I mean, he is a legend in the gambling world. Some people over the years have called him the Loch Ness Monster because he's so rarely photographed. Wow.

He's one of these characters that people know about. A few people know what he actually looks like. He's from Tasmania originally, which I think adds an extra layer of intrigue.

One fairly simplistic way to say it is, Marantelli looks for the opportunities, the Joker is the money man.

Get ready to play the Games of Texas for Saturday, April 22nd.

I think that's a pretty good comparison.

So sometimes people are rushing to the convenience stores. There's lines around the block. Everybody's buying lottery tickets. In this case, they realized that wasn't happening. And the reason that's important is because to maintain their profit margins, they want to be the only people that win.

They don't want to split the jackpot.

On the night of the drawing, they do it a little bit after 10 o'clock and it's kind of looks like almost like a cable access show.

The total prize was getting close to 90 million.

They wanted to do it as quickly as they could because there's obviously the risk that someone could win if they waited until the next draw. There was also the talk, we've heard that other big pro gambling outfits were circling and had seen this lottery. They're not the only ones out there who were kind of watching the jackpot creep higher and running the numbers.

And so I think they felt like there was a little bit of competition and if they don't strike now, someone else could get to it first.

Tonight's Lotto Texas jackpot is an estimated $95 million.

They had to get from London to Texas and execute this plan to buy and print all of these lottery tickets before the drawing.

Lottery.com was having a lot of problems in its own business. And Lottery.com executives saw this as a huge business opportunity. These Europeans were going to come in and spend $25 million buying tickets. They saw that as a business opportunity because they get 5% of the sales. There's a little bit of an air of desperation in some of the emails.

They were able to get dozens of these ticket printing machines They set them up in four locations around the state. One was a former dentist's office. One was a warehouse. So these were not glamorous locations, but they brought in rolls and rolls of paper because they have to print all these tickets.

As best we can tell, it's 100% legal. Wow. These guys sought permission ahead of time, and they got approval, and they came in and did it.

I mean, it was definitely an around-the-clock operation, and they were bringing in more people as soon as they could find them. Our understanding is some of them brought in their children to help with the printing and the filing. It was really an around-the-clock operation. I mean, they really wanted this thing to work.

I don't think they actually bought every single combination. And one reason for that is because there are some numbers that you don't want to buy because they're so common. For example, one, two, three, four, five, six, too many people guess that number. And so if you buy that lottery ticket, you would almost certainly share it with other people.

52.

And the drama kind of builds and it's like, one number. And the second number is... 30.

Once again, those lotto texts, those numbers are 52, 30, 5, 18, 29.

I live in London now, but I'm originally from Texas. My family's still in Texas. All my friends, or not all my friends, but a lot of my friends are in Texas.

It really wasn't until late 2024, early this year, that people started talking about this. The state's lottery commission has come under fire over what's called... And it just gathered momentum.

Texas Attorney General Ken Paxton announced this morning an investigation

People started getting more and more upset and lawmakers would pile in. And then the governor of Texas jumped on and asked the Texas Rangers to investigate.

Two numbers, three numbers. That third number is... Five.

I think Barantelli and the Joker, as best we understand it, are trying to lay low. They gave us a statement through their lawyer saying that all rules and regulations had been followed. And as best we could tell, that is true.