15 May 2019 Posted By : Peter Tremblay

Expert tips on how to win the lottery

The chances of winning the lottery are extremely low, as you're four times more likely to be struck by lightning than hitting jackpot.

However, with the Powerball and Mega Millions having a combined jackpot of over $2 billion in October 2018, it the largest prize in U.S. lottery history, according to a CNN report. Therefore, irrespective of how minimal the chances of winning are, it is still worth a try—as you could even explore the luckiest horoscopes for winning a jackpot.

Roman-Australian economist, Stefan Mandel has defied the odds associated with winning the lottery by being a 14-time lottery winner, according to a feature story in The Hustle.

Mandel claimed his first two wins in his native Romania, where he was doing his best to earn enough money to take his family out of the previously communist country. At the time, the mathematician's salary was a meagre $88 a month.

However, after claiming his first two wins, he moved to Israel before finally settling in Australia, where a claimed additional 12 lottery wins.

How did he manage to accomplish such a feat? Well, Mandel was a mathematician who hacked the lottery system. He was determined to hack Virginia's lottery system but soon landed in trouble as he bagged a 20-month jail term in an Israeli prison for his actions.

However, while Mandel's scheme was considered legal at the time, new laws in the US and Australia has rendered Mandel's schemeimpossible to achieve nowadays. Two parts which were key in Mandel's formula was being able to buy lottery tickets in bulk and print your tickets at home—things you can no longer do now.

Nonetheless, Mandel had a 6-step formula which he used to make a lot of money from the lottery. First, he calculated the total number of possible combinations. Therefore, for a lottery that requires a player to select from six numbers from 1 to 40, that equals 3,838,380 combinations. Then, the next step was to find lotteries where the jackpot was three times or more the number of possible combinations.

After achieving all of the above, Mandel rounded up about 2,524 investors to raise enough cash to pay for each combination in a bid to win the Virginia lottery. He then printed out millions of tickets with every combination. While previously legal, now you would be required to purchase lottery tickets from an accredited store.

Nonetheless, Mandel then delivered his printed tickets to authorized lottery dealers and that was how he won the cash—settling his investors after cashing out. Mandel reportedly took home $97,000 after winning $1.3 million in 1987.

Rather than buying multiple tickets like Mandel's approach might suggest, another way to boost your chances of winning is by picking the most common winning numbers. While most players typically select what they term as ‘lucky numbers’— a meaningful date, like a birthday or wedding anniversary—according to USA Mega, the most common numbers drawn since October 31, 2017, are one, 10, 28, 42, 62, two, and four. Thus, choosing these numbers means you stand a greater chance of winning.

Number 1 and 10 were drawn 19 times; 28, 42, and 62 were all drawn 18 times; and two and four were both drawn 15 times. While the most common Mega Ball number is 9 which showed up 9 times.

Furthermore, there are losing numbers to steer clear of such as 55, 50, 35, 19, and 9 when selecting your first five numbers; these numbers only appeared five times. Living in one of the top lottery winning states could also be an added advantage.

While a lot of lottery winners end up blowing all of their winnings— spending it on extravagant items such as big houses, exotic cars, gambling it away, or eventually getting hit with multiple lawsuits—Mandel managed to escape the jinx as now he leads a quiet life in Vanuatu, a South Pacific island country popular for its volcanoes and waterfalls.

Robert Pagliarini, a certified financial planner, previously told Business Insider that to prevent falling into debts or poverty, lottery winners should assemble a "financial triad" to help plan adequately 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."

Pagliarini further noted that the best way to get through such a sudden windfall like winning the lottery is to remain calm and focus solely on the long term with practical financial planning.

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