An economist outsmarted the lottery and won 14 jackpots. He explains the math

Stefan Mandel's journey began with a fundamental understanding of lottery mechanics. (Representational)

In an era where the odds of winning the lottery are akin to being struck by lightning, one man defied the near-impossible. Romanian economist Stefan Mandel, with the backing of a dedicated syndicate and strategic acumen, managed to clinch 14 lottery jackpots across the globe.

Mandel's journey began with a fundamental understanding of lottery mechanics. "Theoretically, anybody can buy all the possible combinations. Any high school boy or girl can calculate those combinations," he shared in an interview available on YouTube.

What set Mandel apart was his ability to develop a logistical system capable of handling the enormous task of submitting millions of lottery tickets. "Nobody has ever developed a logistical system to lodge such a large amount of play slips," he remarked.

Mandel's strategy involved a meticulous approach: with the help of investors and a syndicate named the International Lotto Fund (ILF), he calculated and purchased all possible ticket combinations. His groundbreaking moment came in February 1992, when he targeted the Virginia lottery.

The state's rules required picking six numbers from a pool of 44, resulting in 7,059,052 possible combinations—a feasible number for Mandel and his team.

Virginia's allowance for individuals to purchase and print tickets at home proved advantageous. Utilising 30 computers, Mandel and his syndicate printed every possible combination, positioning themselves for a win. Their efforts culminated in a staggering $27 million jackpot, complemented by an additional $900,000 from secondary prizes.

The success of the ILF did not go unnoticed. Fourteen international agencies, including the CIA and FBI, launched investigations into Mandel and his associates. Despite the scrutiny, both Mandel and the ILF were cleared of any wrongdoing.

Today, Stefan Mandel enjoys a serene life, reportedly residing in a beach house on a secluded island off the coast of Australia.