How to set up a Lottery Syndicate

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How to set up a Lottery Syndicate

Friday, May 8th, 2009 Subscribe To Our Feed

Traditional Lottery Syndicates have a number of advantages and disadvantages

The main advantage they have is that the syndicate can hughly increase their chances of winning. The drawback is that they must share the earnings with all that are included in the lottery syndicate.

So what exactly is a Lottery Syndicate

A lottery syndicate is a group of people or those that are affiliated in an organization that pool their resources to purchasing lottery tickets. Often the syndicates are based around a group of work colleagues or members of a social society or even friends and family

Therefore instead of purchasing only one ticket for a draw the syndicate can purchases 10, 20 or even hundreds of tickets.This means a greater chances of having the winning numbers. But the down side in lottery syndicates is that the winnings are dispersed among the group.But imagine if you won 50 Million in the Euro Millions Lottery - I am sure you would prefer having a percentage of this, how about 1.2 million, than nothing!

Lottery syndicates have been around for many years and have are very popular in Europe. This is especially true in the United Kingdom, where there are official syndicates that manage the funds and have each member contracted so that there is no dispute over the winnings.

One country where syndicates are not common is the USA. The main reason for this is that there are 38 states that have state run lotteries and there are only a small number that are ran in more than one states. The lottery that is available in the greatest number of states is the Powerball and also to a lesser degree Megamillions.

This makes lottery syndicates not very common in the USA but which there is a big demand, but unfortunately it is something very difficult organise. In addition the gambling laws in the USA are very strict. There are so many compliances that would have to be met for lottery syndicates and many just aren’t willing to go through all the paperwork and issues.

The main disadvantage with traditional lottery syndicates are that there is no sure way to legally bind the members of the lottery syndicates when they are a group of friends/families. This may sound strange, but when the big prize is won it can be every one for themselves. This is the reason that organizations and organised syndicates the best solution.

One solution to the syndicate problems is the elottery syndicate system this allows the management of the syndicate by a seperate 3rd party insuring that entry money are collected and winnings are evenly distributed. At the moment syndicates positions are available in the UK national lottery, Euro Millions Lottery and the Spanish ElGordo Lotteries .

These syndicates are open to members from all over the world (with the exception of the USA). Could your syndicate be the one that wins the BIG Jackpot? For more information on setting up or joining a syndicate and your opportunity for a free entry into the next UK lottery please view free video at Euro Lottery Syndicates

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