Lottery syndicates are always increasing in popularity – and it doesn’t matter what sort it is either. But which lottery syndicates are best – online or friends and family? We investigate.
Greater Chances of Winning
Of course, with any lottery game the aim is to make sure you’ve got as great a chance of winning as possible, by having more tickets without spending any more money than you have to, so with that in mind let’s examine exactly what a syndicate is.
Lottery Syndicates Explained
A lottery syndicate – or a syndicate of any kind is a group of people who come together, either as people who know each other, or remotely online to put their resources together and take on the risk of sharing a monetary transaction. If you’re entering a lottery with a group of people it means that instead of buying one ticket that will give you one entry, you pay one ticket price and enter into a number of tickets for a draw. In some syndicates, numbers will be drawn in a sequence, whilst in others users can choose their own numbers.
In recent years online lottery syndicates have become more popular. Lottery companies who have their own syndicates online will organize them efficiently and fairly so that they can only have a specific number of members and a maximum number of entries. If you’re thinking of entering one, do your research wisely and look for a good ration between the amounts of tickets played against the number of people who will have to share the winnings.
That’s one of the reasons syndicates online have become so popular. Most online lottery providers offer a set amount of entries with a specific number of members. The biggest thing is to look at the amount of tickets versus the amount of people that any winnings will be shared.
Most lottery syndicates offered by online lottery providers do so in some form of subscriptions either broken down at a weekly or monthly cost. Most of the big jackpots are played twice a week. Weekly means that you are automatically subscribed to your syndicate for two draws a week. Monthly means that you’re subscribed for eight draws.
Family and Friends Lottery Syndicates
These are usually set up between people either from within a family or close network of friends or work colleagues who will organize group to play the lottery each week. Everyone will pay a set amount into a lottery fund. This will be used to play a particular lottery game and put tickets on each week – the number of which will usually be agreed between the members. Whilst there will be rules and regulations put in place, they won’t be as tightly run as a professional online syndicate and these types of draws rely on the honesty and closeness of the people who play.
Pros of Online Syndicates:
An increased chance of winning: The amounts you can win will vary, but they will always be higher in an online syndicate and every little bit you win can mount up.
No increase in the amount you have to pay: Anyone using an online syndicate will only have to pay one ticket price and will still end up with a higher chance of winning, so to join a group like this means overall there’ll be less monetary outlay for higher financial gain.
Varied choice of jackpot games: There’s a very varied selection of lottery games on offer that will give you a chance to win large or smaller amounts of money so the amount a player chooses to put in, whether it’s on one game or three is entirely up to them.
Cons of Online Syndicates
Sharing the money: A seemingly obvious point to make but anyone playing an online syndicate will still have to share any winnings that are made. A seemingly large prize pot might not be so big when it’s divided equally. That’s a risk to consider.
Infighting: Not even online syndicates can avoid people arguing over money – though it would be unlikely there would ever be any face to face meetings between members, it’s still a consideration that must be carefully thought about before a decision is made on whether to enter.
Too much choice: There are a wealth of games to choose from and that can sometimes be overwhelming so it’s important to be strict and perhaps choose one or two, or select a few random games and find the one which yields the most financial reward after a few weeks and stick to it!
Careful to take notice of small print: Many lottery subscription games will automatically renew with players getting a regular charge to their bank account, sometimes without realising. Keeping a proper check of financial accounts is essential, as is knowing rights to cancellation if that’s needed..
Pros of Family and Friends Syndicates
Still a good chance of winning big money: With a family syndicate, there might be a smaller number of people playing than in an online syndicate, so although players might only use one lottery game they may play more lines on it, which technically increases the chances of winning a bigger jackpot, though not by much.
Playing lottery together is a shared experience: Playing the lottery with friends and loved ones can be a fun and shared experience. The thrill of putting the numbers on and keeping in touch to see who has checked the numbers and if there is a prize can give people a talking point and something to aspire to and dream about. Even winning small amounts can mean syndicates can add more lines on to games or try new ones to see if they can win more money. It can be fun and uplifting.
Cons of Family and Friends Syndicates
It’s nice to win, but it can bring out the worst in people: Scooping a huge jackpot is everyone’s dream, but in fighting isn’t – and any arguing would be divisive and could possibly cause rifts and splits within a family or friendship group. Syndicates between friends and family are often verbal rather than written down which can make things tricky down the line. It can be safer, and cause less problems to write an agreement between all the members.
Dividing up money: Strictly speaking, all monies should always be divided equally, but some people might always believe they’re entitled to more, especially if they’re the person that always put the ticket on, or does all the running round. Again, writing down an agreement between all members can help stop these arguments and niggles.
Choosing games can be hard: In an online syndicate it’s down to the one person playing to make their mind up. In a family or friends syndicate a collective decision has to be made on what games to play and how often.
To sum up
A lottery syndicate can increase your chances of winning whether it’s an online one, or with loved ones. It’s down to personal preference which a player chooses. However, the main point to note is that players should always choose a reputable lottery game to play and research whichever game they’re investing in, beforehand.