Seven time lottery winner shares the key tips that helped him win so many times

It’s something everyone has fantasized about, what would you do if you won the lottery?

For some it’s immediate spending sprees, fancy cars, luxury holidays, the works. While others think about paying off mortgages or student loans.

Another course of action could be to buy a house in cash, changing the liquid asset into equity and meaning no rent or mortgage, and put the rest in a variety of savings and investment accounts. Then you live off the interest.

But it’s all very well dreaming about what you could spend the money on, but the horrible truth is it means nothing unless you actually win.

Seven time winner Richard Lustig has shared his advice on how to increase your chances in the lotto draws.

The man, from Orlando, Florida, has scooped big prizes in seven state-sponsored lottery games from 1993 to 2010, with his wins totalling more than one million dollars.

He said: “The three things you can do to increase your chances of winning a lottery game is to pick your own numbers and stick with them every time; set a budget; and never spend rent or grocery money to play a lottery game.”

But are Richard’s tips actually helpful?

Well, his first tip is to pick your numbers and stick with them every time, whether it’s a birthday or a lucky number. The problem is that lottery numbers are chosen entirely at random, meaning that no one combination is going to increase your chances on any one occasion, according to Forbes.

Richard’s second tip is simple: Set a budget.

That’s certainly good advice. There’s no point in winning $10k if you’ve already spent $20k on tickets.

And Richard’s third piece of advice? It’s kind of an extension of number two.

He says to never spend rent or grocery money in order to play the lottery.

But there is one way which you can seemingly increase your chances at winning, and that’s to join a lottery pool.

There is a trade off that you would have to share any winnings that anyone takes in the pool, but your chances of bagging a prize are increased.

Off the back of Richard’s advice, the main thing to remember here is to gamble responsibly.

The Florida man has managed to take home an impressive $1,047,091.92 in winnings.

Most of this came from one win on 23 January 2002 which scooped him an impressive haul of $842,152.91.

That’s better than a kick in the teeth!