Beat the Lotto results: How Australian man won 14 times
How to BEAT lotto: meet the Aussie who won the jackpot 14 times with a simple math formula – taking home over $30 million
- A person’s chance of winning the lottery is about one in 14 million
- Mathematician Stefan Mandel won the jackpot 14 times without breaking any law
- He used his wits and affinity for numbers to create a near-perfect formula
- Laws surrounding the lottery were changed as a result of his success
The odds of a person winning a major lottery are about one in 14 million.
But mathematician Stefan Mandel defied the odds of winning the jackpot 14 times during his heyday, and he did so without breaking a single law, the Lottery critic reported.
The Romanian-born Australian citizen used his wits and affinity for numbers to come up with a near-perfect formula to crack the system.
Mathematician Stefan Mandel won the jackpot 14 times in his heyday, and he did it without breaking a single law
While working as an economist in Romania, Mr. Mandel tested his creation and hoped for a second prize by using the five numbers his formula yielded while simply guessing the sixth digit.
He eventually won the grand prize and was able to leave Romania and settle in Australia with his young family.
Shortly after arriving Down Under, Mr Mandel set to work adapting his formula to the Australian game.
Due to the immensity of possible combinations in the Australian lottery, Mr. Mandel began seeking investors, intending to secure as many tickets as possible for each major draw.
With five numbers out of six calculated through his system, the number of combinations became finite and Mr. Mandel began to focus on big prizes that yielded more money than possible combinations.
With this, he hoped to buy every available ticket option, giving him even more chances to hit the jackpot.
After 12 victories, the Australian authorities began to implement his grand plan.
Despite the legality of his activities, it was deemed not in the spirit of the game and a series of laws were put in place to block him.
It was made illegal for one man to buy any lottery ticket.
In response, Mr. Mandel found five business partners.
The odds of a single person winning the big lottery are about one in 14 million
Another law was enacted making it illegal for groups of individuals to buy all the tickets in a lottery draw, but again, Mr. Mandel found a solution by forming a lottery company.
Just as he overcame each hurdle, the Australian government would place another one before him.
Soon, Mr. Mandel grew tired of the back and forth and set his sights back on a larger market.
In exploring other options, he found that the United States had not yet imposed the restrictions he had experienced in Australia.
He immediately set to work cracking the American system, with a particular focus on the Virginia lottery.
At that time, there were 7.1 million possible number combinations in the pool and tickets cost only $1 each.
Mr Mandel convinced 2,500 Australian investors to pool $2,500 each.
Two years later, in 1992, the jackpot hit $27 million, and Mr. Mandel and his team bought every single ticket.
“I knew I would win one first prize, six second prizes, 132 third prizes and thousands of minor prizes,” he said. Planet money.
His total winnings exceeded $30 million.
It resulted in a four-year legal battle, during which the syndicate was investigated by the CIA and the FBI, among others, but the suspicions remained unfounded.
Despite this, laws continued to be changed to ban Mr. Mandel’s technique.
In 1995, Mr. Mandel filed for bankruptcy.