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Man wins lottery 14 times with clever and completely legal formula - this is how he did it


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We've all imagined what we would do with all of that money if we won the lottery. Whether you'd buy a house or go on holiday, unfortunately winning that life-changing sum depends on dumb luck for the vast majority of us.

 

Not for Stefan Mandel - a Romanian economist who, struggling to make ends meet, came up with a genius solution to his problems: winning the lottery. The maths whizz discovered a clever way of winning that meant he could start a new life - and it didn't involve breaking the law at the time. Jackpot. He spent AGES poring over mathematical theories, and after years of research, he wrote a "number-picking algorithm" based on a method he called "combinatorial condensation" - The Hustle reported.

 

Using his method, Stefan claimed he could accurately predict five of the six winning numbers. This reduced the number of possible combinations in a lottery from millions to mere thousands. With friends, he took a huge risk and purchased large blocks of lottery tickets with the combinations his formula has deemed to be most likely - and won first prize.

 

The jackpot sum was 78,783 Romanian lei - nearly £15,000. After paying off his expenses, Stefan walked away with around £3,000. It was enough to start a new life abroad and try his formula again.

 

Stefan persuaded a pool of investors to put their cash together to build a lotto syndicate and invented a clever system where computers filled out tickets automatically using every possible number combo.

 

They won 12 lotteries and thousands of smaller prizes across Australia and the UK.

 

Unsurprisingly, lottery authorities cottoned onto the scheme, and changed rules to ban computer-printed forms and bulk buying tickets. Stefan had a back-up plan. He used his profits to place clued-up scouts around the US so he could determine which lottery would be a good bet for his next scheme.

 

He set his sights on Virginia because its numbers only ranged between one and 44, which meant the total number of possible combinations was far lower than others - increasing his chances of winning the big bucks.

 

He set up an official company, Pacific Financial Resources, persuaded investors to pour in the required cash and employed 16 people from a warehouse in Melbourne to print millions of tickets.

 

They won the jackpot and plenty of other smaller prizes.

 

Full article
 

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Sounds like he's just buying tickets for every possible combination and the prize is more than all the tickets cost.  Anybody else understand the article, it's not really very clear?

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27 minutes ago, ndfdjnd said:

Sounds like he's just buying tickets for every possible combination and the prize is more than all the tickets cost.  Anybody else understand the article, it's not really very clear?

Of course it's not really very clear. It involves a lot of mathematical calculations and tables probably a good understanding of statistic too.It's interesting though. First time I read about someone could do that.

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I'm skeptical without a more thorough explanation.  The lottery is after all pure luck, you cannot guess the numbers.  So the only way of winning would be to choose all the number combinations, or at least enough to have enough chance of winning to offset your outlay.

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To match 6 numbers in a 44 ball lottery, then the number of combinations is:

 

(44/6) x (43/5) x (42/4) x (41/3) x (40/2) x (39/1) = 7,059,052  combinations

 

If a ticket cost 1 dollar then he would have spent over 7 million dollars to guarantee the jackpot  

 

The old UK lottery with 49 numbers had just under 14 million combinations, almost double.

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Did you guys read that he went bankrupt after winning the lottery 14 times?

 

Everyone can set up a system that guarantees winning the lottery, but the question is if the profits surpass the expenses, which was obviously not the case with this guy, otherwise he would not bankrupt.

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It seems he was winning each time but not a huge amount after expenses were deducted.  Or maybe he was only winning some of the time, article isn't clear.

 

Maybe the article means his company in Gibraltar folded, and not necessarily that he was penniless.  Even if he was personally broke, that doesn't necessarily mean he didn't make money from lotteries, it could just mean he spent the winnings frivolously.

 

And lots of people have convictions for fraud who are still very rich.  You win some, you lose some. 

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The guy sells his program and networks 500 people to invest 10K for a 30% return based on 70% chance of winning a 7M / 44 number lottery. He pockets 500K for printing and marketing 5M unique combinations. 

 

500x10Kx1.3=6.5M

 

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5 minutes ago, JAZZDOG said:

The guy sells his program and networks 500 people to invest 10K for a 30% return based on 70% chance of winning a 7M / 44 number lottery. He pockets 500K for printing and marketing 5M unique combinations. 

 

500x10Kx1.3=6.5M

 

Although that would depend on the numbers being unique numbers .

The U.K lottery you can choose you own numbers and the jackpot is shared between the winning numbers .

   

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16 hours ago, ndfdjnd said:

Sounds like he's just buying tickets for every possible combination and the prize is more than all the tickets cost.  Anybody else understand the article, it's not really very clear?

The first thing that came to mind on reading this was this sort of approach, but applied to the lottery. 

 

http://gambling-superstitions.com/sleeping-number-in-roulette/

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From what I remember he done this on a huge jackpot at one point. He had staff buying all combinations possible before the draw . They managed to buy 85 % of the numbers and were lucky to win and there was no other winner. Cant remember how much they made from it but was on tv about 10 year ago where I seen it.

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With some lotteries in the USA, the pot grows and grows each time there's a daily or weekly drawing without a winner.  Statistically, the tickets are worth more than you pay for them on those occasions.  (Feel kinda sorry for everyone that lost again and again for the pot to get that big, but that's their bad)

 

If you have an algorithm that can predict when the jackpot will be that big, seems like all you need is a way to lock down millions of numbers.  It would have to be computer generated because nobody can select a few million numbers manually in a few hours or days.

 

Seems pretty simple if you boil it down.  First you need to know when the jackpot exceeds the cost of buying one of every number, then you need a computer programmed to buy a zillion sequential tickets, real fast.

 

But simple and easy are 2 different critters.  Which is probably how he went bankrupt.  As others have said, winning 14 times isn't much of a feat if he spent more on tickets than he won. 

 

I had a buddy at work that was always winning some Thai lottery or another.  But he was always skint.

 

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My mother went to the racetrack and figured out that if she bet every horse in the race she would win - - it was very exciting as she won every race and only lost a little money... she had so much fun. 

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1 hour ago, impulse said:

With some lotteries in the USA, the pot grows and grows each time there's a daily or weekly drawing without a winner.  Statistically, the tickets are worth more than you pay for them on those occasions.  (Feel kinda sorry for everyone that lost again and again for the pot to get that big, but that's their bad)

 

If you have an algorithm that can predict when the jackpot will be that big, seems like all you need is a way to lock down millions of numbers.  It would have to be computer generated because nobody can select a few million numbers manually in a few hours or days.

 

Seems pretty simple if you boil it down.  First you need to know when the jackpot exceeds the cost of buying one of every number, then you need a computer programmed to buy a zillion sequential tickets, real fast.

 

But simple and easy are 2 different critters.  Which is probably how he went bankrupt.  As others have said, winning 14 times isn't much of a feat if he spent more on tickets than he won. 

 

I had a buddy at work that was always winning some Thai lottery or another.  But he was always skint.

 

The problem is that there can be multiple winners that you need to split the pot with... 

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3 hours ago, chudless said:

Been done since in the US by a mathematician...they won too but were banned.

 

That's where Stefan Mandel did it, it was him:

 

 "He set his sights on Virginia" ....over 20 years ago.

 

It worked......but other projects didn't.

 

He filed for bankruptcy in 1995.

 

He also subsequently did time in Israel for an investment scam.

 

It's at the very end of "story".

 

It's not "News"..........it's history.

 

 

1996:

How to make a killing on the lottery | The Independent

"Mr Klincewicz, who knows Stefan Mandel, head of the Australian syndicate allegedly considering a sting on the British lottery"

 

 

 

 

 

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19 hours ago, madusa said:

Of course it's not really very clear. It involves a lot of mathematical calculations and tables probably a good understanding of statistic too.It's interesting though. First time I read about someone could do that.

This "arbitrage" was successful in a Canadian lottery a while back. The managers made a mistake in the odds and a smart guy cleaned up. No mystery, Did it - legally - in Laos a while back. Two banks screwed up their rates, so I changed Baht into Kip, then walked a few hundred meters and changed them back into Baht, about 6% profit, Legal. Caveat Venditor.

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2 hours ago, kenk24 said:

My mother went to the racetrack and figured out that if she bet every horse in the race she would win - - it was very exciting as she won every race and only lost a little money... she had so much fun. 

i like this story,   i once had a thought to do same - went thru the motions on a couple of race cards but unless you get quite a few long odds winners your out of pocket.  if there are 12 horses in the race you best have only 3 of them below 12/1, better none at all,  but ive never come across that. but 3 gives you a 75% chance, 2 you get an 83% chance

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Best way to win with lottery: Plan on a budget of $100,000 to buy tickets. Then don't. After the drawing you will be $100,000 further ahead than if you had played.

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3 hours ago, Enoon said:

That's where Stefan Mandel did it, it was him:

 

 "He set his sights on Virginia" ....over 20 years ago.

So why is it news today ?  I read about it in a printed newspaper before Internet . 

 

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1 hour ago, Mac98 said:

Best way to win with lottery: Plan on a budget of $100,000 to buy tickets. Then don't. After the drawing you will be $100,000 further ahead than if you had played.

I used a similar system... when the prize was enormous - and if I had a long drive ahead of me - I would buy a $1 ticket - - and for that price I could have an hour of daydreaming what I would do with the winnings - helped pass the time pleasantly for a buck... 

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On 8/29/2018 at 7:03 PM, ndfdjnd said:

I'm skeptical without a more thorough explanation.  The lottery is after all pure luck, you cannot guess the numbers.  So the only way of winning would be to choose all the number combinations, or at least enough to have enough chance of winning to offset your outlay.

Trick is to only do it on roll over or multi roll over weeks. 

 

This 'article' is trash as far any thing other than idiot bait.. Theres a great book about the irish syndicate that took the irish lottery. 

To do so they picked a double rollover and included all at variables of 3 4 ball wins etc in the total take.. Even so if there were multiple jackpot winners in the draw they would have lost and there were variables outside perfect control such as inability to buy every combination in the time. 

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I wrote a program to define the likelihood of certain numbers being picked. This was based on analysis of many thousands of numbers that had reasonable winnings in the past. No idea if it worked I never used it, considered it more fun to randomly pick some numbers

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Of course it is possible to win every lottery if one buys all the combinations.  But the reason some lotteries are targeted is due to a number of factors.

 

1 The cost of the venture

 

2 The difficulty in filling in the sheets

 

3 The guarantee of winning the lower amounts

 

I've been involved in a number of 'can't lose' schemes down the years; from Dagenham dogs to football pools. Right now there's decent money to be

had on the exchanges.

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