Posted: Thursday, May 09,2019 | Time: 11:05 am | Edited by: The Lottery Lab Staff
Looking at the thin odds of winning the lottery, people are constantly looking for more witty ways to win in the Lottery. Apparently, you’re four times more likely to be struck by lightning than to win the lottery. Stefan Mandel, a Romanian-Australian economist defied the odds and won the lottery 14 times. Mandel’s first two wins were in his native Romania, where he was trying to make enough money to get his family out of the then-communist country. He was just earning $88 a month. He moved to Israel and then eventually settled down in Australia, where he won the lottery, 12 times!
You must have heard of the people who blow away their sudden windfall. As for Mandel, he had greater plans. He set his eyes on hacking the Virginia State Lottery, eventually landing himself in the Israeli jail for 20 months. Currently, he’s living in the South Pacific island country of Vanuatu and keeping a low profile.
Bonus Read: Read the full story of Stefan Mandel here.
Mandel used a plan which was well-strategized and executed and helped them win the huge jackpot worth $27 million at that time. Here’s the six-step formula used by Stefan Mandel that helped him win serious cash off the lottery-
The first step is to calculate the possible combinations. Powerball or Mega Millions are the most popular national lotteries in the US which offer huge jackpots. But considering the odds of 292 million, it is quite difficult to purchase 292 million lottery tickets. This is the reason, the jackpots are growing huge than ever because the winning odds are very low, which is a good thing for the second step. For step 3, you need to raise enough money to purchase the tickets with each possible combination. Each ticket is worth $2 and you need approximately $600 million to purchase a bulk of tickets for an assured win. For step 4, mechanically printed tickets are not void now and it is impossible to print that kind of ticket within the short span of time.
First 4 steps confirm that it is an error-prone plan and with the modern lottery system this plan won’t work. Moreover, if you somehow managed the first four steps there is always a chance that the people are also trying this (lottery pools are somehow the same format, except that they are purchasing each possible combination) but to some extent, it is a similar practice. People chipping their money to purchase the bulk of tickets to increase their odds of winning. Therefore, chances are pretty high that you might end up sharing your jackpot with someone else as well.