Playing the lottery is an ever-popular pastime across the world, and chances are you’ve probably purchased a lottery ticket yourself at one time or another. Around 183 million people in the US play the lottery at least once a year, and in the UK, approximately 32 million buy a National Lottery ticket every week. Considering lottery winnings often run into the millions, sometimes even hundreds of millions of dollars, the popularity of playing the lottery is no surprise whatsoever.
Yet, the majority of people playing the lottery are missing a trick—for a number of reasons, they really should be entering lottery draws as part of a syndicate instead of buying individual lottery tickets. By purchasing tickets together and sharing the prize winnings in proportion to individual contributions, you can not only save money but improve your chances of winning. Here’s how.
You have more chance of winning the main prizes
This motivation is pretty straightforward: by pooling your money with others, you can buy more bets and give you and your friends a greater chance of winning. If you play by yourself, you’re only buying a few bets at most. Being in a syndicate changes this. Now you could be part of tens, or even hundreds of bets.
Of course, if you do win the jackpot, you’ll have to share your winnings with the others in your syndicate. But, say you merely bought one share in a ten share syndicate and the jackpot was $10 million, you’d still pocket $1 million—much better than winning 0% of $1 million!
There have been numerous cases of syndicates winning big over the years. One of the most famous examples is that of ‘Ocean’s 16’, a group of sixteen workers from a maintenance garage in Ocean County, Jersey. Remarkably, the syndicate bagged one third of a $448 million Powerball jackpot, working out at $3.8 million each after tax. Another notable example is the family of five from Wales who pocketed nearly $80m between them after winning the EuroMillions jackpot.
You increase your chances of winning, full stop
You don’t just stand a greater chance of winning the main prizes when playing in a syndicate, but the many other prizes on offer. For instance, in the UK National Lottery, there is not only a guaranteed £1 million in every draw, but 20 prizes of £20,000 too. Joining a lotto syndicate gives you more chances to win any of those.
Some online lottery syndicate companies also enter members into free prize draws, further improving the chances of winning prizes. You can also decide to use the pooled money to enter into, say, ten different lotteries around the world instead of entering the same lottery ten times, increasing your chances of winning elsewhere.
It is a more cost effective way of playing the lottery
A fantastic thing about a lottery syndicate is that even though you’re being entered into more bets and have a higher chance of winning a jackpot, you are still spending what you normally would on the lottery. This is down to the fact you’re sharing the costs of the bets with other syndicate members. You’re getting more value for money by spending the same amount, but receiving an increased chance of winning.
How can I join a lottery syndicate?
There are two main ways you can join a lottery syndicate, with the first being to set up a syndicate group with people you know. Some of the more common types of syndicate groups include office syndicates, sports team syndicates and family syndicates. The benefit of being in these groups is that you get the enjoyment of sharing any money you win with those you spend your life with. However, this requires plenty of organisation, so you may want to join an online syndicate group instead.
The major advantage to this type of syndicate is the convenience; there’s hardly any organisation involved, with a betting company putting you into a group and taking care of the ticket purchasing on your behalf. All you have to do is sign up, put your feet up and (hopefully) wait for the money to roll in. We have listed some of the most trusted online syndicate companies below.
- Lotto Social – The UK-based lottery syndicate company Lotto Social are one of the most trusted lottery companies around. Providing the chance to win big in both the UK National Lottery and the EuroMillions jackpot, they also enter members into free prize draws. Here, they can win anything from holidays to spa days.
- LottoGo – Another British-based company, LottoGo offer online syndicate games from across the world, including Australia, Germany, Gibraltar and Sweden.
- Lottoland – Hailing from Gibraltar, Lottoland are one of the biggest and most trusted lottery betting companies on the planet, and provide syndicate games in countries including Ireland, Italy and the US.
With a greater chance of winning big, and representing a more cost effective way of playing the lottery, becoming part of a syndicate is a no brainer.