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How to win the lottery, according to a Romanian-born mathematician who won 14 times
Posted on 7/13/23 at 3:19 pm
Posted on 7/13/23 at 3:19 pm
Want to win the lottery? Here is how someone did it 14 times
LINK
LINK
quote:
Here's the 6-step formula for how Mandel managed to make serious cash from the lottery:
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.)
Find lotteries where the jackpot is three times or more the number of possible combinations.
Raise enough cash to pay for each combination. (Mandel rounded up 2,524 investors for his push to win the Virginia lottery.)
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.)
Deliver the tickets to authorized lottery dealers.
Win the cash. And don't forget to pay your investors. (Mandel pocketed $97,000 after a $1.3 million win in 1987.)
12
Posted on 7/13/23 at 3:20 pm to LivingstonLaw
Does this account for multiple winners splitting top prize?
Posted on 7/13/23 at 3:21 pm to LivingstonLaw
quote:
Raise enough cash to pay for each combination. (Mandel rounded up 2,524 investors for his push to win the Virginia lottery.)
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.)
Deliver the tickets to authorized lottery dealers.
This seems simple.
Posted on 7/13/23 at 3:22 pm to LivingstonLaw
and depend on the person holding the winning ticket to not take the money and run
Posted on 7/13/23 at 3:23 pm to LivingstonLaw
The odds in MegaMillions are 1 in 302,575,350, meaning you need roughly a $1b payout for it to pay off.
Powerball’s odds are comparable at about 1 in 292,201,338.
Powerball’s odds are comparable at about 1 in 292,201,338.
Posted on 7/13/23 at 3:23 pm to Jim Rockford
quote:
This seems simple.
Get a bank to loan you the money. It will pay off at the end.
Posted on 7/13/23 at 3:24 pm to LivingstonLaw
People have been banned from casinos for knowing these tricks and combinations
Posted on 7/13/23 at 3:24 pm to MorbidTheClown
And hope someone else doesn't win at the same time and you have to split it. Oops.
Posted on 7/13/23 at 3:25 pm to LivingstonLaw
quote:
The odds of winning the jackpot are 1 in 292.2 million
So at $2, I would need to spend $584.4 million for every combination. Seems doable.
Posted on 7/13/23 at 3:27 pm to teke184
That’s odds on a single ticket. How
Many number combinations are there. If you buy one of every combo you will win. Cost is dependent on how high the numbers and how many.
Many number combinations are there. If you buy one of every combo you will win. Cost is dependent on how high the numbers and how many.
Posted on 7/13/23 at 3:31 pm to ODoyleRulez
quote:
That’s odds on a single ticket. How Many number combinations are there.
The odds on a single ticket ARE the number of possible combinations out there minus some unseen frickery.
A daily numbers drawing of three digits from 0 to 9 would be 10^3 or 10*10*10, as getting every combination means tickets for 000 through 999, which is 1000 combinations.
Posted on 7/13/23 at 3:34 pm to teke184
If there are 300m possible combinations and IF you could pre complete all of these numbers onto tickets…..you’d have to run 500 per second for a full week 24/7 to get them all printed….at a cost of $600m dollars.
Posted on 7/13/23 at 3:36 pm to TheWalrus
quote:
Does this account for multiple winners splitting top prize?
No. That’s the hiccup. You’re not guaranteed the whole jackpot.
Posted on 7/13/23 at 3:42 pm to teke184
quote:
The odds in MegaMillions are 1 in 302,575,350, meaning you need roughly a $1b payout for it to pay off.
First of all, that means you have to find $600M to buy all the combinations. Then you have to actually buy 300M tickets. That's impossible.
This post was edited on 7/13/23 at 3:43 pm
Posted on 7/13/23 at 3:45 pm to LivingstonLaw
quote:
Here's the 6-step formula for how Mandel managed to make serious cash from the lottery:
Posted on 7/13/23 at 3:49 pm to TeddyPadillac
None of this takes into account multiple winners. When the jackpots get high enough to make this viable there are also more people playing and usually ith high jackpots you will have multiple winner. If that happened you would be sunk.
Posted on 7/13/23 at 3:51 pm to LivingstonLaw
I know the secret buy all of the tickets.
Posted on 7/13/23 at 3:54 pm to SixthAndBarone
quote:
No. That’s the hiccup. You’re not guaranteed the whole jackpot.
You're also going to collect a shite ton of smaller wins along the way as well.
Posted on 7/13/23 at 3:56 pm to UAinSOUTHAL
quote:This is obviously a risk, but I'd guess if you do it enough times with your investors, you should be positive EV, even factoring in those losses.
None of this takes into account multiple winners. When the jackpots get high enough to make this viable there are also more people playing and usually ith high jackpots you will have multiple winner. If that happened you would be sunk.
Posted on 7/13/23 at 3:57 pm to UAinSOUTHAL
quote:
None of this takes into account multiple winners.
That's why he says it has to be 3x's the possible combinations.
that seems like it is taking into account for one other winner you have to share with, as well as taxes.
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