Lottery Syndicate: A Simple Yet Effective Strategy

Organizing a lottery syndicate where players buy lotto tickets and agree to split the potential winnings is a cost-effective way to boost the chances of winning.

You know the odds of winning the lottery are extremely small, but playing it as a syndicate member improves your odds of winning, and it can be a great deal of fun.

Syndicates can be comprised of friends, family members, or co-workers. You can join an already-established group.

There are syndicates listed online but review them carefully before joining one. Becoming part of a company of strangers, where there is little oversite, can make it easy to fall victim to con artists and scammers. Carefully research any syndicate, especially one comprised of strangers, before sending money.

The Pros of Joining a Lottery Syndicate

• Syndicate players split the cost of the agreed-upon number of lottery tickets, meaning playing a larger number of lottery tickets costs less.
• Having more lottery tickets increases the chances of a winning ticket.
• The larger the syndicate, the better your chances of recouping some of the money you spend.
• Smaller jackpots can help offset the cost of regular play when splitting among the members.
• Participating with other people is fun; you can build camaraderie and share strategies with those in your syndicate.
• The larger the lottery syndicate, the higher the chances of winning a sizeable jackpot.
• A syndicate is not a permanent commitment, so you can join and see if it fits. If not, you can always move to another syndicate or establish one yourself.

The Cons of Joining a Lottery Syndicate

• All winnings are split between the syndicate members, reducing payouts of any size.
• The more syndicate members there are, the lower the potential payout on any winnings.
• Informally established syndicates can result in a legal battle if one or more syndicate members become greedy over a payout.

A Lottery Syndicate Can Benefit From Lotterycodex

Syndicates have a significantly higher chance of winning a jackpot than an individual. A large syndicate can see the benefits of using a tool like a lottery wheel. A lottery wheel can significantly boost your odds of winning if done correctly.

The Lotterycodex is a lottery wheel that performs combinatorial math with probability measurements. The complex mathematical equations of probability and combinatorics allow you to play the lottery with a strategy instead of relying on blind luck.

No magic formula guarantees a winning result, but using a lottery wheel within a large syndicate can increase your chances of winning. Read The Proven Lottery Formula Using Combinatorics and Probability Theory

How Should You Organize a Lottery Syndicate?

In a typical syndicate, the organizer collects the money to buy the tickets and then holds them until the lottery is held. Lottery tickets are bought with a system normally done using a full lottery wheel. One example of this is the system play of the Tattslotto.

But aside from a solid strategy, the group should take a few other steps to protect all members.

• Create a simple contract that specifies the terms clearly, including the following: (1) The minimum buy-in; (2) Detail exactly what formula will be used to divide the winnings; (3) Will a cap exist on how many people are allowed into the syndicate? (4) Who will charge the money and purchase the tickets?
• There should be an oversight plan to ensure each member is protected.
• Set a zero-tolerance policy for late or non-payments of shares. The contract should state that not paying their share on a set date will mean forfeiture of any rights to winnings.
• With taxable potential winnings, the entire group must agree to split the tax burden equitably.
• A current list of all the players’ names
• The name or names of each lottery game or games the syndicate will play
• The date the syndicate begins
• Use a legally binding online lottery syndicate form, but ensure it applies to your country and state.
• Include detailed information, including resources, so those who join the syndicate can research the method or system you have chosen to use to choose numbers.
• There should be a section for contact information. Every member should have a way to contact the syndicate manager, who needs the contact information for each player.
• If you accept advance payments, for instance, allowing players to pay from six months to a year in advance, you also need a simple clause dealing with inheritance issues if a member dies while still in active play.
• Have every group member sign the contract, and preferably have each signature notarized. You can use this group play agreement generator.

Too many relationships have been ruined by disputes about money. It can be tempting to join an informal syndicate of friends and family and never think about the consequences because these are all people you trust.

The vast amounts of potential money in a lottery jackpot can change people. You must worry about the people in your syndicate honoring the informal terms. Also, each person will be under tremendous pressure from their friends and family.

Given that everything today comes with “terms and conditions,” taking a few minutes to set up a legally binding agreement is more than worth the effort to protect your potential winnings and relationships.

The simple steps above can help avoid hurt feelings, disagreements, or damaged relationships between syndicate members.

Should You Form Your Syndicate or Join One Already in Place?

Suppose you do not have the time or inclination to do the modest amount of work required to establish a legally binding and well-played syndicate. In that case, joining a reputable existing syndicate is the right choice for you.

However, suppose you are interested in the Lotterycodex formula and want to establish a type of strategic play that increases the odds of a win. In that case, you must develop your syndicate. The benefits of creating a syndicate include:

• You can ensure everyone abides by a legally binding contract that will offer protection in case of a big win.
• You can establish the system your syndicate will use to play the lottery.
• You do not have to worry about being taken in by online scams or the problems that can arise in an informal syndicate with no strategy or contract.
• You have better odds of winning when you combine strategy with the purchasing power of a syndicate.

Building a syndicate does come with responsibilities. First, along with the contract, as the syndicate manager, you should create and have your signature notarized on a statement stating that you promise to distribute all winnings equitably among the syndicate members. It will also be your responsibility to:

• Ensure each lottery player pays for their tickets, and note any who miss payments. Note that they will be removed from any potential pot of winnings
• Buy the tickets and hold them in a secure place
• Check the tickets to see if the syndicate is due a prize
• You should also establish a method for other syndicate members to view the ticket numbers. This will make it more fun for everyone and create a checks-and-balances system that keeps everyone apprised of winnings, etc.
• Collect the winnings and distribute them as agreed. Most larger syndicates have clauses that winnings below a certain threshold will be used to purchase additional tickets for the next round.
• Keep track of the syndicate contract, remove members who leave, and add new members.
• Establish agreements about what will happen if a player does not pay on time or decides to leave the syndicate.

Tales of Syndicates that Have Won Big

On January 1, 2019, a lottery syndicate made up of 23 co-workers from Long Island won a $437 million jackpot.¹ The winners set up an LLC to claim their prize anonymously. After taxes, they took the lump sum payments, which came to about 7.65 million dollars per person. A representative from the syndicate stated that they played the lottery every week but only contributed one dollar per person.

Twenty North American Stamping Group co-workers won a jackpot totaling $254 million in Tennessee.² Each participant received $12.7 million.

In March 2012, the Mega Millions jackpot soared to $656 million. Three separate tickets matched the jackpot drawing, and one of the tickets belonged to a syndicate that called themselves the Three Amigos.³ Their portion of the jackpot was $218.6 million. It’s not a bad return on their combined sixty dollars worth of lottery tickets. The “Three Amigos” elected to remain anonymous, but the youngest member was the one who had bought the ticket. She called her two other syndicate winners, and they immediately met to sign and secure their winning ticket. Each member walked away with $35 million after taxes.

The luck of the Irish seems to be an authentic expression when looking at syndicate winners from Ireland.⁴

A syndicate comprised of friends won over sixty-six million Euros in 2016.⁵ In the same year, twenty-two colleagues from Dublin won twenty-three million and eight hundred thousand Euro jackpots. In 2017, another Dublin syndicate claimed an eight-eight million and five hundred thousand Euro lottery winning. Again, in 2019, another small family syndicate from Dublin won one hundred seventy-five million euros.⁶

Given that most lottery syndicate winners remain anonymous, we don’t know much about these winners’ personal stories. It is not hard to imagine the excitement and thrill of winning such a substantial jackpot and hope their friendships grew along with their newfound wealth.

Even with smaller jackpots, can you imagine the fun of calling your friends and family with the news that you had all just won thousands or even millions of dollars? Most of us have had conversations at one point or another in our lives that started with, “If I won the lottery….”. These lucky groups could live what most of us can only fantasize about. However, remember the adage: you can’t win if you don’t play.

Remember, Playing the Lottery Should Be Fun

The entire point of a lottery is to provide entertainment. Of course, everyone loves the stories of winners who have changed lives with a few randomly generated numbers. Just make sure you, and hopefully other members of your syndicate, do not lose perspective. Winning the lottery is not a sound financial plan.

Regardless of its sanction, the lottery is still a form of gambling. Like all other types of gambling, you should play responsibly. You can do significant damage to your financial well-being if you don’t. Budget how much you can reasonably afford for the pleasure of playing the lottery, and do not stray outside those bounds. If you have trouble following the guidelines you have set for yourself, reach out for help.

Gamblers Anonymous has chapters all over the world to help people cope with gambling addiction. The only requirement for help is the desire to stop gambling. They don’t collect membership fees. Compulsive gambling is a real problem that can do untold damage. If you find that the lottery or any other form of gambling controls your life or harms your finances or relationships, please seek help.

You can ask for help through their website by calling their international numbers for immediate assistance.

Questions and Answers

Explore more:

• Lottery Wheel: A Clever Mathematical Strategy That Works
• Can Lotterycodex Improve My Lottery Expectations?
• What’s the Best Covering Size When Playing a Lottery?
• Why Buying Hundreds of Lotto Tickets Can Be Useless
• How to Increase My Chances of Winning the Lottery?

References

1. Long Island co-workers claim $437 million Mega Millions jackpot    [↩]
2. 20 Tennessee Factory Coworkers to Split $420 Million Powerball Jackpot    [↩]
3. Maryland’s “Three Amigos” share $218.6 million record-breaking jackpot    [↩]
4. List of Ireland’s biggest EuroMillions winners in history as jackpot hits record-equalling €190million    [↩]
5. Friends who won 66 million euro in syndicate choose to keep their names secret    [↩]
6. EuroMillions: Family syndicate wins 175m euros jackpot    [↩]