Richard Lustig, a seven-time lottery winner, has revealed the strategies that led him to his big wins.
Hailing from Orlando, Florida, Lustig's winnings from seven state-sponsored lottery games between 1993 and 2010 total over a million dollars.
Richard Lustig's winning strategy
Lustig's advice on increasing your chances in lottery draws is straightforward. He suggests three key steps:
Choose your numbers and stick with them
Lustig advises players to select their numbers and use them consistently. Whether these numbers represent a birthday or a lucky number, the idea is to stick with them.
However, it's important to note that lottery numbers are chosen entirely at random. Therefore, no specific combination will increase your chances on any one occasion, as reported by Forbes.
Set a Budget
Lustig's second tip is to set a budget for lottery tickets.
This is sound advice, as there's no benefit in winning $10k if you've already spent $20k on tickets.
Never spend essential money on lottery tickets
Extending from the second tip, Lustig advises never to spend money allocated for rent or groceries on lottery tickets.
Increasing your chances: join a lottery pool
In addition to Lustig's advice, another method to potentially increase your chances of winning is to join a lottery pool.
While this means you would have to share any winnings with others in the pool, it does increase your chances of winning a prize.
Watching the video:
Previously, the man explained the easy maths behind winning the jackpot 14 times
Stefan, an economist from Romania, managed to win the lottery jackpot an astonishing 14 times.
He employed a methodology he called "combinatorial condensation" and established a number-picking algorithm.
Stefan's journey to becoming a multi-time lottery winner began in the 1960s when he moved to Australia with his wife and two children.
Stefan realized that in certain lottery draws, the cost of purchasing enough tickets to cover every possible combination was lower than the jackpot prize.
For instance, if a game required the selection of six numbers from a range of 1 to 40, there would be 3,838,380 possible number combinations.
If tickets cost $1.2 each and the jackpot was $12 million, he stood to make a significant profit.
He gathered a group of friends, formed a syndicate, and purchased a large number of tickets, covering all possible combinations.
Their strategy paid off, as they won the top prize with an impressive sum of over $19,000. After paying his fellow teammates, Stefan found himself possessing a modest $4,000.
Stefan skillfully persuaded a group of investors to pool their funds to create a larger lotto syndicate.
In a lottery syndicate, individuals contribute money into a shared pool designated for the purchase of lottery tickets.
A designated syndicate manager is then responsible for acquiring the tickets, and any winnings obtained are shared among the members.
As his operations continued to thrive, Stefan invented an automated system with printers and computers to automatically generate tickets containing every possible combination of numbers.
The group won 12 lotteries, amassing hundreds of thousands of smaller prizes spanning both Australia and the UK.
However, the authorities eventually caught wind of Stefan and his syndicate, prompting an investigation into their activities.
The lottery authorities took action by implementing a new rule change: they banned the purchase of tickets and the use of computer-generated entries.
Undeterred, Stefan deployed scouts across the US to identify opportunities with substantial profits, often at least three times higher than the total of all possible combinations.
He then relocated to the United States and decided on the Virginia Lottery as his next target.
During that period, there were 7.1 million potential number combinations available in the lottery pool, and the ticket cost was a mere $1 (AUD $1.50). Mandel successfully persuaded 2,500 Australian investors to contribute $2,500 (AUD $3,743) each to the endeavor.
Two years later, in 1992, the jackpot swelled to $27 million (AUD 40.4 million), prompting Mandel and his team to acquire every single ticket. This massive win led to a protracted four-year legal dispute, during which both the CIA and FBI conducted investigations into his activities.
