Money laundering would rather work different way. Someone who gets winning lottery ticket instead of claiming the prize himself sells it for a double to other guy who needs to legalize his income.

In other variant the ticket is sold to someone who later uses it to pay a neat bribe...

This is a rational move if one wants to increase his wining and possibly to make it tax free in return for taking a little additional risk.

Why would you use Princeton grads? And money laundering this way has got to be hella inefficient, no?

This way of profiting doesn't need money laundering to work. But of course if you were the mob it would make sense to hire these guys, as you could regularly launder some money, and they would get paid even more than the winning tickets.