Thursday, December 9, 2010

Lottery Syndicates

Without doubt one of the best ways to give yourself a better chance of winning a lottery prize is to join a lotto syndicate. Statistics show us that one fourth of the big lottery payouts go to syndicated players. Syndicates are comprised of a group of individual players who pool their stake money and buy multiple entries. Thus the benefit of a syndicate is that each individual player of that group has a better chance of winning because they have a share of multiple tickets rather than just one for the same price that they would have to pay for playing on their own.

Obviously being a member of a lottery syndicate has major advantages. Buying just one ticket in a lottery gives you only one chance to win. However, if you join a lottery syndicate of, say 48 people, then you have multiple chances of winning - in our example you have 48 chances. There are proven lottery systems that exist which can dramatically improve your odds of winning lottery prizes. However, all these systems require you to buy more tickets than you would normally. Obviously this is not a problem for a syndicate and many syndicates have won using lottery systems!

There are also negative aspects to being a member of a lottery syndicate however. If a winning ticket is purchased then the winning amount must be shared equally among all lottery syndicate members. If you joining a large syndicate you will have a much better chance of winning a prize. However, you payout from even a big win will be greatly reduced.

There are also often disputes over winnings between syndicate members. We have all read about famous legal cases involving disputed lottery wins and sometimes we even hear of worse things happening between lottery winners.

Winning the lottery can also bring out the worst in certain people. Because lottery syndicates are usually not created under legal contract it is all too easy for one greedy ticket holder to claim all the prize.

Although it is possible to be unlucky enough to join such a lottery group most syndicates are run very fairly and the winnings are divided up evenly. And, playing in a syndicate is still the best way to improve your odds.

If you do join a syndicate you should ensure they are using a lotto system, like "wheeling", and not just picking random numbers. Relying on pure random plays will not improve your odds much. However, employing a wheeling system, for example, can reduce your odds by millions to 1!

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