Managing A Lottery Syndicate For Dummies

Lotteries offer the common person a glimmer of hope to become rich and solve all of their financial problems. People realise these days that the more lottery tickets you hold, the better your chances on winning the lottery are.

For the UK National Lottery, there are about 14,000,000 different combinations so if you have one line, or one ticket, you one 1 in 14,000,000 chances of winning. Now if you have, say, 1000 tickets you have 1 in 14,000 chances of winning so your odds increase considerably. But purchasing 1000 tickets is beyond most people’s means. Who could afford $1000 a week? So the answer is to join a syndicate and spread the cost and share the benefits of better odds.

If you were in a 100 person syndicate paying $10 a week into the pool and you won $10,000,000 you would each win around $100,000. Not bad for your $10 investment.

When you start a syndicate you should make sure you set things up properly because there will always be disputes and arguments especially concerning people who leave or join.

Here are some suggestions On How To Win The Lottery:

• Put everything in writing. Set up a contract detailing the rules of your syndicate and get everyone to sign it. All members should have a copy, give a copy to a solicitor or independent adjudicator and display a copy where you can all see it. Here are some things you should include in your contract.
• Decide on the maximum number of people you allow in to your syndicate.
• If you are going to play the same numbers each time, ensure they are noted in the contract.
• Decide who will be responsible for filling out the tickets and putting the tickets on each week. Include that in the contract and ensure a system is in place to deal with occasions when this person is unavailable. The ticket stubs should be made available by this person(s) as proof that the tickets were put on.
• Decide how and who will collect weekly subscriptions.
• Decide what will happen if someone misses a subscription – will they be excluded from a win, or will their subscription be made up by others? If someone misses a set number of consecutive subscriptions, you might want to exclude them fro the syndicate and allow someone else in. – Whatever you decide, ensure it is in the contract.
• Decide what happens with minor prizes. Do they get carried over and saved for distribution at a later date (for example Christmas) or are they shared out when the amount reaches a certain level. Or do you play additional lines when there’s a roll over for example?
• Check your local tax laws to see whether you need to declare the syndicate for tax purposes.
• Check with your employer to ensure you have permission to run a syndicate on their premises and in their time.
• Decide how people can leave and join your syndicate. If you have a maximum of 20 people allowed, you might have a waiting list of people who want to join.

This is by no means an exhaustive list, but any contract is better than no contract at all.

The most common kind of dispute is when someone has missed a payment, and the syndicate have a win that week. If it is the jackpot – there will be arguments over whether that person should be included in the payout. Decide now, document it and get everyone to sign up to the rules. Even if you have been running a syndicate for years, it is not too late to initiate a contract. Get everyone together, discuss and agree the rules, get them down on paper and get everyone to sign up to them.

The same applies to family syndicates. To avoid any rifts and arguments, make sure everyone knows the rules.

Lottery Syndicates – Should You Participate?

There are times when you’ve got to look up to the power of “One” and there are times when you just have to say “Team”. When talking of lotteries, you increase your chances of winning manifold when you participate in an e-lottery syndicate.

An online syndicate harnesses the power of the internet to enable people participating in a lottery to win more frequently. This happens because when you purchase a lottery via a syndicate, you automatically make yourself eligible for the winnings of other members. In essence you are entering a given lottery draw multiple times at no extra cost. Thus, your chances of winning increase exponentially. Of course, the winnings are split between the participants. So, an e-lottery syndicate is basically a trade-off between a potentially huge lottery win against better chances of winning a smaller packet

Syndicates can span many countries; for example Virtual World Direct (VWD), which runs a syndicated effort for the Euro Millions lottery, is available to citizens from Belgium, France, Spain, Austria, Ireland, Portugal, Switzerland, and Luxembourg. The vast player population along with the combined lotteries of different nations makes Euro Millions the biggest bumper lottery system out there.

By becoming a member of an e-lottery syndicate you get access to some of the largest tax-free lotteries in the world. Membership is easy; all that is required is a computer with an internet connection and a credit card. With an e-lottery syndicate you do not need to keep purchasing tickets every week and visit your lottery seller for checking results. The whole system is computerized and when you win you are intimated by email. You do not have to go anywhere to collect your winnings, they are sent to your house.

There are several online resources which review e-lottery syndicates. You can refer these before you decide upon the syndicate most suited to your style and pocket. Membership fees may vary and the number of participants in a group can also differ. You should also check for member reviews on different online forums, inputs from your countrymen can be especially revealing. Check for the kind of customer service and back-office support offered by the syndicate. Of course, scams abound and you should be alert and not fall prey to anything that sounds too good to be true.

Two popular lottery syndicates are the UK National Lottery syndicate and Euro Millions syndicate run by VWD. The UK National Lottery syndicate consists of multiple groups with 49 members in each group. So, the winnings in a group are shared by 49 members. With just £5, you make yourself eligible to winning against 88 lines that open every week. The money is to be paid 4 weeks in advance. The draw occurs twice a week. The VWU Euro Millions syndicate has 39 members to a group and there are 36 lines in each draw.

Finally, you could also take a look at the range of software available for lottery and gaming enthusiasts. This includes syndicate management software for syndicates, entry management software, and lottery analysis software for the players.

Is Participating In A Lottery Syndicate Better Than Playing Alone?

When considering the prospects of joining a lottery syndicate a key question that props up unfailingly is that what makes playing in a syndicate better than going alone, that too when you have to share your winnings with others.

Well, there are several reasons why it pays to play with a syndicate rather than play alone. Indeed, why would lottery syndicates be flourishing if they weren’t offering concrete gains to their patrons.

Testimonials from people who have joined a lottery syndicate are always positive in their tone. With a lottery syndicate you win more frequently, this itself is a very gratifying proposition for those who have been playing on their own for years without having won anything. The reason why you win more with a syndicate is that you are eligible for the winnings of other people. This increase in probability of a win implies that virtually everybody takes home some winnings more often than not.

You are not required to match more than two numbers to win some money and often one number is guaranteed even before the balls are rolled. If we were to put that in figures, playing UK Lotto through a syndicate gives you a 700% greater chance at winning and your chances of winning at Euro Millions increase by a whopping 3600%. Another hard fact is that according to Camelot statistics, 66% or two out of three wins are claimed by syndicate members. These impressive figures are sustained because of what lottery players gain by joining a lottery syndicate.

Of course, since the winnings are divided between players, the earnings are low; however, as you play they accumulate to give you a substantial sum over a period. A syndicate also opens up other avenues of earning such as an affiliate program and various competitions and bonuses that are on offer from time to time.

An affiliate program is often the major deciding factor for people wanting to join a lottery syndicate. The reasons for this are many – the most attractive one being the chance to play for free once you get a few people to join, with some syndicates the number is as low as five. For instance, there are lottery syndicates that let you play the UK Lotto for free if you can get five people to join, get ten and you get to play Euro Millions for free as well. There are also jackpot prizes to be won by affiliate members and many performance incentives are present so that the returns for maintaining your affiliate website – yes, you get a website – are many times the effort you put into running the affiliate program. So, basically an affiliate program with a lottery syndicate offers you an opportunity to start a very well-paying business with minimum capital investment.

When you join a syndicate you are assured of working with a site that conducts its business in the right spirit and in compliance with the law. You can always check online for the right syndicate, the reputed ones are members of recognized regulatory bodies such as the Lotteries Council in England.