From the accuracy section -
http://www.lawschoolpredictor.com/?page_id=173
All Applicants
Target admit rates, based on how LSP renders predictions:
When LSP said Admit: >= 87%
When LSP said Strong Consider: ~ 69%
When LSP said Consider: ~ 50%
When LSP said Weak Consider: ~ 31%
When LSP said Deny: <= 13%
Based on the 33,500+ LSN decisions from the 2008-09 admission cycle:
When LSP said Admit, 8402 instances: 87.0%, +0.0%
When LSP said Strong Consider, 4842 instances: 78.0%, +9.0%
When LSP said Consider, 10066 instances: 50.6%, +0.6%
When LSP said Weak Consider, 3646 instances: 22.8%, -8.2%
When LSP said Deny, 6754 instances: 10.0%, -3.0%
It happens but it's unlikely. There are three things you should keep in mind. First, where you go to law school will have far reaching implications on your life and career. It matters. A lot. Even though the odds are shitty the reward is big. If the powerball odds were 1 in 20 you'd probably buy more tickets. I don't know your stats or situation but if you're competitive for the T14 it makes sense to carpetbomb the whole damn thing and see how it all plays out.
Second, spending the extra couple hundred dollars on applications is more palatable when compared with the tens of thousands you'll drop in tuition and living expenses. If you're going to go into massive debt anyway you might as well do it right.
Third, it depends on how close your stats are. A 3.5 gpa/ 170 lsat is "deny" at NYU. A 2.8 gpa/ 166 lsat is also "deny" at NYU. It makes sense for the first applicant to apply because her stats are close. She might get lucky. The second applicant should save his money because his odds are effectively zero.