Traditional Lottery Syndicates have a number of advantages and disadvantages
The main advantage they have is that the syndicate can massively increase their winning chances. The drawback is that they must share the earnings with other members of the lottery syndicate.
This poses a question, 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 buy lottery tickets. Often the syndicates are based around a group of friends at work or members of a social club or even friends and family
This means that were one person can buy a lottery ticket, a group of like minded people could buy a hundred..This means a greater chances of having the winning ticket. Of course the downside in the lottery syndicate is that you need to share the prize with other syndicate members.However if you win more often and with bigger jackpots – 50 million on the Euro Millions Lottery on the big rollovers – I am sure you would not mind sharing.
Lottery syndicates have been around for a very long time and have gained a strong popularity in Europe. This is especially true in the UK, where there are official syndicates that manage the funds and have each member contracted so that there are no arguements when the syndicate wins.
The only place that lottery syndicates have not gained a strong hold is the United States. The main reason for this is that each of the seperate states have their own lottery with only a few lotteries being available in multiple 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 something that is desired in the United States, but unfortunately it is something very difficult organise. There is also the issue of the state and Federal laws. There are so many difficulties that would require to be overcome for lottery syndicates and many just aren’t willing to go through all the paperwork and issues.
The main difficulty with traditional lottery syndicates are that there is no sure way to contractually bind the people in the lottery syndicates when they are a group of friends/families. This may sound strange, but when the jackpot 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 issues 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 National Lottery in the United Kingdom, Euro Millions Lottery and the El Gordo Lottery in Spain .
These syndicates are open to members from anywhere in 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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