Have you ever thought about what you would do if you won it? Lotto; The odds for a person to win a big lottery ticket are approx one in 14 million.
But for mathematician Stefan Mandel it was easy to achieve. Mandel defied the odds and won the jackpot 14 times during his successful run, which he did without breaking a single law.
The Romanian-born Australian citizen he used his brain and his aptitude for numbers to create an almost perfect formula to break the system. While working as economist in Romania, Mr. Mandel tested his creation and hoped to win second prize, using the five numbers predicted by his formula, while simply guessed the sixth digit.
Finally, he won the first prize and was able to leave Romania and settle in Australia with his family. Immediately after arriving in Australia, Mr. Mandel began working to adapt his type to the Australian game.
Because of the infinite possible combinations in the Australian lottery, Mr Mandel began looking for investors, with the aim of to collect as many coins as possible for each big draw.
With five of the six numbers calculated through his system, Mr. Mandel began to focus on the big prizes that offer more money than possible combinations. With these hoped to buy every available lottery selection, giving him an even better chance of winning the jackpot.
The fall came quickly
After 12 wins, the Australian authorities began to realize his grandiose plan. Despite the legality of his activities, it was considered that were not in keeping with the spirit of the game and a number of laws were enacted to prevent him, according to the dailymail.co.uk.
Another law was enacted which made illegal for groups of people to buy all the tickets in a raffle, but again, Mr. Mandel found a solution by creating a lottery company.
As he overcame each obstacle, the Australian government put another one in front of him. Before long, Mr. Mandel got tired from the whole process and again set his sights on a larger market.
While searching for other options, he learned that the United States had not yet imposed the restrictions it had experienced in Australia. He immediately began working to break the American system, with particular emphasis on raffle her Virginia.
At the time, there were 7.1 million possible combinations of numbers in the pool, and tickets cost only $1 each. Mr. Mandel convinced 2,500 Australians investors to raise from $2,500 each.
Two years later, in 1992, the jackpot reached $27 million, and Mr. Mandel and his team bought every ticket. His total profit exceeded 30 million dollars.
This resulted in a four-year legal battle, which saw the syndicate investigated by the CIA and FBI, but the suspicions fell on deaf ears. Nevertheless, the laws were changed to outlaw Mr. Mandel’s technique. By 1995, Mr. Mandel filed for bankruptcy.
Source: News Beast
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