Mandel devised his successful formula while working as an economist during the 1950s in his native Romania. After many calculations, he came up with the formula that would give him success: a set of calculations that could predict five out of six winning numbers out of a total of 40 options.
The mathematician aspired to a second prize, which required only five strokes, but to his surprise, the play he performed with three of his friends won first prize in the local lottery., according to public laguardia.com.
With money in his pocket, Mandel settled in Australia in the 1980s, where he soon decided to see if his formula would bring him the same luck. However, being a different system, it did not attempt to predict the winning combination; With the Australian Lottery, Mandel chose another method: getting as many tickets as possible, all with different combinations. Thus his odds increased, and his method was more than successful, as he was able to win 12 prizes by raffle during the times he tried. With the winnings, Mandel decided to start a statutory investment fund with one mission: to work with his formula to win the lottery and distribute the benefits.
For Mandel, it was necessary to obtain the possible number of combinations that the lot could include. For a lottery where you have to pick six correct numbers between 1 and 40, the possible outcomes are a total of 3,838,380 combinations, which Mandel made sure to try his luck in in the draws in which the prize was three times greater than the number of possible combinations.
He soon got the attention of his acquaintances, who, along with the profits of his company, invested in pooling money to buy a bunch of potential numbers in various bookmakers. Once he received the award, he distributed it to all those who cooperated.
His success led him to try his luck in the United States, where he also won several awards which fetched him around $30 million while living in North America.
But his fortune attracted the attention of the FBI and the CIA, which began investigating him. In addition, this led the US lottery authorities to modify the rules and limit the number of shares each player could receive.
Mandel ended up immigrating to Israel in 1995, where he tried to replicate his commercial success, but found himself under investigation by the SEC.
In 2004, he was sentenced to ten months in prison and a fine of approximately $30,000, as he and his partner did not disclose to their investors their true chances of winning.