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How to Win the Lottery More Often as Part of a Lottery Syndicate
The organisers of the UK National Lotto and Euro Millions lottery state that twenty five percent of jackpots are won by lottery syndicates. But organising a syndicate can be more trouble than it is worth unless you get it right.
The traditional syndicate is usually made up of a group of family members or work colleagues who club their resources together each week and buy a number of lottery tickets between them. Any winnings being shared out between the syndicate members.
The first problem usually encountered by the syndicate leader is trying to collect the lottery money each week. This can result in a lot of time wasted in chasing other syndicate members for their cash.
Another problem for the syndicate leader will be that of having to go out and queue up to purchase the tickets every week – more time wasted. And woe betides him if he forgets to do this, especially if the syndicate numbers come up on that particular week.
On the other hand, if the syndicate does have a big win one week, there is always the possibility that the leader might abscond with all the lottery winnings or at least not share them out with the other syndicate members.
Then there could be a downside for winning syndicate members. If the syndicate manager purchases the tickets, any winnings are paid to him and only him. It is the syndicate leader who then has to split up the winnings and ‘gift’ them to the other syndicate members.
By receiving this ‘gift’ of lottery winnings from the syndicate manager, the syndicate members might well become liable for inheritance tax if the winnings are considerable. The last thing that you want is for the taxman to take a wedge of your winnings, especially as lottery winnings are tax-free to the winning ticket holder. So do ensure that you have a legally binding contract drawn up from the start (available for the lottery organisers) showing how the money is to be shared out in the event of a big win.
On the plus side, being part of a professional lottery syndicate will undoubtedly boost your chances of a big lottery win. This is especially so if the syndicate has enough members to cover enough numbers to guarantee a certain amount of correct syndicate numbers even before the draw has taken place.
This is perfectly possible to do, but requires quite a bit of work on behalf of the syndicate manager, possibly more work than he would be prepared to take on in fact, as it involves a long stint at the lottery terminal buying tickets all in the correct order.
The only way around this is to (legally) program a computer to automatically buy the tickets online in the correct order, and to do this every week without fail whilst ensuring that winnings are distributed fairly to each syndicate member on time, every time.
A syndicate such as this has a much better chance of winning a big cash prize when compared to buying a single ticket from a retail outlet – and doesn’t cost much more to do so.
About the Author
The author Peter Moore, is a professional lottery syndicate leader from Nuneaton in Warwickshire, who offers more lottery syndicate information on his free e-Lottery DVD.
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