Why 14 times lottery winner Stefan’s strategy won’t work today?

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By admin September 8, 2017 10:17

Why 14 times lottery winner Stefan’s strategy won’t work today?

In 1992, Stefan Mandel did something which every lottery player dreamt. He bagged Virginia’s $27 million jackpot by buying every single combination of possible winning numbers. He took out the luck from the game and guaranteed himself a big win.

Stefan told NPR’s Planet Money producer Alex Goldmark that he knew that he would win one first prize, six-second prizes, 132 third prizes, and thousands of minor prizes. Meanwhile, it was not his first lottery win. It was his 14th lottery win along with the biggest jackpot he had ever won.

“The lottery was the only way I could get some serious money quickly,” Stefan told Goldmark. And, like all the other successful businesses, hitting lotteries also required a plan, diligent research and a lot of patience. According to Goldmark, “He doesn’t just go out and buy random tickets. He’s a pretty natural math whiz.”

Stephan goes to the library and starts reading math paper. After studying some math papers, he finally came up with a formula. He bought a block of tickets that he thought will guarantee a winning prize. Stefan’s first try with the lottery helped him win sufficient amount of money to move his family to Australia. Here he found more investors and perfected his system. So, what started as a ticket out in Romania in the 1950s, turned into a lucrative business for him.

Stefan was crowned 12 times as the lottery winner. However, after 12 times winnings, sufficient laws were implemented to put Stefan out of business in Australia. He was left with no other option than to look elsewhere. This was when Virginia Lottery came into play in 1992.

There were total 7.1 million combinations of lottery tickets in Virginia. Stefan figured out that to ensure a profit before purchasing each combination, he should wait for the jackpot to reach $25 million. This operation took around three months. Goldmark states, “They printed out all 7.1 million tickets in Australia, paid $60,000 to ship them to the US.” They negotiated bulk buys with grocery stores all around Virginia about how they could send cashier’s checks to purchase tens of thousands of lottery tickets.

Moreover, on the night of the drawing, Stefan wasn’t anxious at all. Stefan was sure of scooping something big. He took home first prize, along with several second and third prizes, and “thousands of minor prizes. Today, he lives on a tropical island in the South Pacific.

Above all, Goldmark says, “It cannot be done anymore.” The numbers of combinations have grown too much. It’s nearly impossible to print all the tickets and buy them in time. So, it looks like there will be no Stefan in future.

admin
By admin September 8, 2017 10:17
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