According to UK Lottery statistics, one out of four lottery jackpot prizes are won by a syndicate. And of course, it has to be. Syndicates allow groups of lotto betters to play as many tickets as possible and thereby increase their chance of bagging the jackpot prize. Given that the lottery game is a game of chance and the numbers are drawn out at random, the best way to improve your chance of winning is to bet on as many combinations as possible. You will not be able to afford buying all those tickets if you do that alone, but if you a part of a group, this wouldn’t be that impossible.
Of course, the winnings should be shared by the group too. Some syndicates strictly impose that each member should give equal contribution but there are syndicates too that allow members to contribute more than one share. In turn, these members also have more shares in the winnings. There are two ways to play the lotto with a syndicate. You can either create the syndicate yourself or join a pre-existing syndicate and become a regular member.
What is a better choice? If you have a lot of friends or if your co-workers share the same thoughts as you do, it would be a great opportunity for you to create your own syndicate. Member-run syndicates are often small, about 10 to 20 members only. Although the money raised may not be that huge, still, the share of each member come the time one of the syndicate’s tickets also win will also be larger. However, you should take not that running the syndicate is also difficult, especially if you don’t have that much experience.
Just imagine having to collect the money from all your members on a weekly or monthly basis and having to record these collections neatly. You also need to keep track of the contribution of each of your members and distribute to them copies of the tickets played. You will be doing a thankless job and there is also a chance that your members will blame you each time all the tickets your syndicate played loses the game.
Collecting the contributions from your members will prove to be difficult too. Some members will not be diligent enough to really set aside money for the collection and you will be left with no other option but to reduce the number of tickets you buy or worse, you might be forced to pay on their behalf!
So, why exhaust yourself in running your own syndicate when you can just join pre-existing syndicates? Lotto retailers have affiliate syndicates which you can join. Just tell your retailer that you want to play with a syndicate and you will be told what to do next. Your retailer will usually issue a share ticket to you instead of the actual lottery ticket. You can then use this ticket to claim your winnings.
You can also join online lottery syndicates. Just be careful though because the internet is filled with scammers and looters who are simply waiting to trick you into giving them your money. If you are unsure about a syndicate, do a background-check and decide based on the reviews you’ve read.
