Lottery Syndicates - Strength In Numbers Means More Chances To Win

Cliff Ponting By Cliff Ponting, 25th Mar 2011 | Follow this author | RSS Feed | Short URL http://nut.bz/4h_f_8cr/
Posted in Wikinut>Gambling>Lotteries

This page reviews the benefits of playing the Lottery in a Syndicate - does the better chance of winning outweigh the downside of winning less money in the case of a large Jackpot win ?

The Lotto Problem And Solution


If you're tired of tossing your money in the bin because your lottery numbers aren't turning up, there are really only two solutions to that problem. First, you could simply buy more tickets. The more numbers you pick, the higher your odds of winning. Yes, your odds do increase, albeit only slightly. The other solution is to join a Lottery syndicate. Lottery syndicates have been proven to increase your chances of winning without spending a great deal of money on your part. There is no standing in lengthy queues, misplacing your ticket, or if you do happen to win the lottery, there's no forgetting to collect your winnings!

How Does A Lottery Syndicate Work ?

A lottery syndicate is actually very simple. It's a group of people who get together and pay a set amount of money every week so they can buy their lottery tickets all at once. If one of the syndicate's tickets actually wins, everyone gets an equal share of the winnings. For example, let's say you spend £5 per week on tickets and you join a syndicate with nine other people who also pay £5 a week. Using this method, your group will be able to buy 50 tickets a week, and a winning ticket within the syndicate nets each of you 10% of the winnings. Instead of only having 5 chances to win, you now have 50.

The Trade Off - A Better Chance Of Winning vs Less Cash When You Do Win


Now, do you win less money overall by joining a lottery syndicate? Yes, you do. It's a trade-off for increasing the probability of winning. While you'd win it all if you were the sole winner, joining a syndicate can allow you to win money even if your tickets aren't the winners. This way, you don't have to spend nearly as much to increase your chance of winning. The downside to joining a syndicate is that the larger the syndicate becomes, the less your individual share of the winnings; therefore, it's best that if you do decide to join a syndicate, join one with less than 25 people in it to truly make it worth your while.

As well as groups of friends many reputable companies run Lottery Syndicate businesses – this takes away the administrative burden as well as giving the Lottery player a better chance of a Lottery win .

As a plus, the winnings are checked for you as part of a syndicate, so if a ticket wins, everyone in the group is notified about it. No fumbling around looking for a ticket you may have thrown in the bin; it's taken care of for you. As an individual player, there is a certain thrill associated with playing the lottery; however, without paying more money out of your own pocket, your chances to win are ridiculously small.

Joining a lottery syndicate ensures that you get a piece of the winnings whether or not your money bought the actual tickets. It's a great way to increase your winnings without the added expenses !

Tags

Club, Group, Lotteries, Lottery, Lottery Syndicates, Team

Meet the author

author avatar Cliff Ponting
Cliff Ponting has over 36 years experience of working for numerous vendors in the Telecoms and IT industry .
Cliff is based in Swindon,United Kingdom and writes articles on subjects in the Telecoms and Online Marketing sectors.

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Comments

author avatar Spicy
14th Jul 2011 (#)

Very good article. Nice to read.

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