How to win the
lottery, according to a Romanian-born mathematician who hacked the system, won
14 times, and retired on a remote tropical island
You might want to know how to win the lottery — especially as the Mega
Millions jackpot just reached a record-high $1.6 billion
jumps to a record payout of $1.6 billion.
How to win the
lottery, according to a Romanian-born mathematician who hacked the system, won
14 times, and retired on a remote tropical island
You might want to know how to win the lottery — especially as the Mega
Millions jackpot just reached a record-high $1.6 billion.
play
·
You might want
to know how to win the
lottery — especially as the Mega Millions jackpot
jumps to a record payout of $1.6 billion.
·
Stefan Mandel,
a Romanian-Australian economist, developed a formula that's allowed him to win
the lottery 14 times.
·
It's a six-step
process designed to hack the system.
·
READ MORE: We did the math
to see if you should buy a ticket.
You're four times as likely to be struck by lightning than to win t
Those odds apparently don't apply to Stefan Mandel,
a Romanian-Australian economist who's won the lottery 14 times, The Hustle reported in a
feature story about the mathematician.
Mandel's first two wins were in his native Romania,
where he was trying to earn enough money to get his family out of the then
communist country. His salary was just $88 a month.
He moved to Israel before settling down in
Australia, where he won the lottery an additional 12 times.
Plenty of lottery winners end up blowing it all
— spending it on huge houses and Porsches, gambling it away, or getting slammed
with lawsuits. Robert Pagliarini,
a certified financial planner, previously told Business
Insider that to prevent that, lottery winners should assemble a
"financial triad" to help plan for their financial future.
"This includes an attorney, a tax person, and
a financial adviser," Pagliarini said. "This financial dream team can
help you make smart financial decisions and help you plan for the future. They
can also help shield you from the media and from the onslaught of money
requests from others."
The key way to navigate a sudden windfall like
winning the lottery, Pagliarini said, is to keep calm and focus on the long
term with pragmatic financial planning.
As for Mandel, he set his sights on hacking
Virginia's lottery, but his stunts eventually landed him in an Israeli prison
for 20 months. Now he lives a quiet life in Vanuatu, a South Pacific island
country known for its volcanoes and waterfalls.
While his scheme was legal at the time, new laws in
the US and Australia render Mandel's scheme impossible nowadays. You can no
longer buy lottery tickets in bulk and print your tickets at home — two key
parts of Mandel's formula.
Here's the 6-step formula
for how Mandel managed to make serious cash from the lottery:
1. Calculate the total number
of possible combinations. (For a lottery that requires you to pick six numbers
from 1 to 40, that means 3,838,380 combinations.)
2. Find lotteries where the
jackpot is three times or more the number of possible combinations.
3. Raise enough cash to pay
for each combination. (Mandel rounded up 2,524 investors
for his push to win the Virginia lottery.)
4. Print out millions of
tickets with every combination. (This used to be legal. Now you would have to
buy the tickets right from the store click here
5. Deliver the tickets to
authorized lottery dealers.
6. Win the cash. And don't
forget to pay your investors. (Mandel pocketed $97,000 after a $1.3 million win
in 1987.)
·
Stefan Mandel,
a Romanian-Australian economist, developed a formula that's allowed him to win
the lottery 14 times.
·
It's a six-step
process designed to hack the system.
·
READ MORE: We did the math
to see if you should buy a ticket.
You're four times as likely to be struck by lightning than to win t
Those odds apparently don't apply to Stefan Mandel,
a Romanian-Australian economist who's won the lottery 14 times, The Hustle reported in a
feature story about the mathematician.
Mandel's first two wins were in his native Romania,
where he was trying to earn enough money to get his family out of the then
communist country. His salary was just $88 a month.
He moved to Israel before settling down in
Australia, where he won the lottery an additional 12 times.
Plenty of lottery winners end up blowing it all
— spending it on huge houses and Porsches, gambling it away, or getting slammed
with lawsuits. Robert Pagliarini,
a certified financial planner, previously told Business
Insider that to prevent that, lottery winners should assemble a
"financial triad" to help plan for their financial future.
"This includes an attorney, a tax person, and
a financial adviser," Pagliarini said. "This financial dream team can
help you make smart financial decisions and help you plan for the future. They
can also help shield you from the media and from the onslaught of money
requests from others."
The key way to navigate a sudden windfall like
winning the lottery, Pagliarini said, is to keep calm and focus on the long
term with pragmatic financial planning.
As for Mandel, he set his sights on hacking
Virginia's lottery, but his stunts eventually landed him in an Israeli prison
for 20 months. Now he lives a quiet life in Vanuatu, a South Pacific island
country known for its volcanoes and waterfalls.
While his scheme was legal at the time, new laws in
the US and Australia render Mandel's scheme impossible nowadays. You can no
longer buy lottery tickets in bulk and print your tickets at home — two key
parts of Mandel's formula.
Here's the 6-step formula
for how Mandel managed to make serious cash from the lottery:
1. Calculate the total number
of possible combinations. (For a lottery that requires you to pick six numbers
from 1 to 40, that means 3,838,380 combinations.)
2. Find lotteries where the
jackpot is three times or more the number of possible combinations.
3. Raise enough cash to pay
for each combination. (Mandel rounded up 2,524 investors
for his push to win the Virginia lottery.)
4. Print out millions of
tickets with every combination. (This used to be legal. Now you would have to
buy the tickets right from the store.) click here
5. Deliver the tickets to
authorized lottery dealers.
6. Win the cash. And don't
forget to pay your investors. (Mandel pocketed $97,000 after a $1.3 million win
in 1987.)
No comments:
Post a Comment