Well, I don't know. Let's see . . . . .
First draw: One 'M' available out of 11 letters. Probability of picking it = 1/11.
2nd draw: Four 'I's available out of 10 letters. Probability of picking one = 4/10.
3rd draw: Four 'S's available out of 9 letters. Probability of picking one = 4/9.
4th draw: Three 'S's available out of 8 letters. Probability of picking one = 3/8.
5th draw: Three 'I's available out of 7 letters. Probability of picking one = 3/7.
6th draw: Two 'S's available out of 6 letters. Probability of picking one = 2/6.
7th draw: One 'S' available out of 5 letters. Probability of picking it = 1/5.
8th draw: Two 'I's available out of 4 letters. Probability of picking it = 2/4.
9th draw: Two 'P's available out of 3 letters. Probability of picking one = 2/3.
10th draw: One 'P' available out of 2 letters. Probability of picking it = 1/2.
11th draw: One letter left. It is an 'I'. Probability of picking it = 1 .
Probability of all of those draws in order =
(1/11) x (4/10) x (4/9) x (3/8) x (3/7) x (2/6) x (1/5) x (2/4) x (2/3) x (1/2) x (1) =
1,152 / 39,916,800 =
1 / 34,650 =
0.00002886 =
0.002886 percent (rounded)
Not a good bet. (But better than the lottery.)