Sharing the Wealth: Who Should You Form A Lottery Syndicate With?

People say that “the price of lottery tickets is a tax on stupidity.” That might be true, but only if you play alone…

A lottery syndicate — where you and others pool your money together to buy multiple lottery tickets and share any winnings increases your chances of winning prizes. It is also a much more cost-effective way of playing the lottery. You can spend what you normally would but with a much greater chance of winning.

If this idea of being in a syndicate sounds good, you’ll need to find both willing and trustworthy members — you don’t want to end up like poor old Louisa Whitby.

Forming a syndicate with family members

Another typical method of playing the lottery in a group is to form a syndicate with family members. This kind of group has also experienced considerable success. Consider the a Wales family that won the Euro Millions jackpot in 2016. The five of them split over $79.6 Million, marking it one of the biggest victories in UK history. Ted and Marilyn Newton of Kent, England, won over $10.5 Million in the UK National Lottery in 2009. This was another successful family syndicate win.

There don’t seem to be many instances of family syndicate disagreements, thus it appears that participating in a family syndicate is a safer strategy to prevent betrayal. Even though Ted and Marilyn Newton had stopped contributing to the syndicate for years, they split the money, in the case mentioned above, with their three children.

Forming a syndicate with Co-workers

The most common kind of lottery syndicate is one that is started by coworkers, and they have produced some of the biggest syndicate lottery winners ever. Consider the group of motors maintenance workers known as the “Ocean’s 16” as an instance. The 16-person syndicate split a $448 Million jackpot in the US Powerball in 2013, taking home $3.80 Million after taxes, for each participant.

Another well-known instance of a group of coworkers winning the lotto together was a group of 12 bus drivers from North amptonshire in the UK. Together, the co-worker syndicate won little under $Fifty Million on the EuroMillions jackpot. One of the largest British syndicate wins ever occurred in 2012 when they each won a whopping $Four Million.

So, if the syndicate success stories mentioned above have given you some motivation and inspiration, it would be worthwhile to see whether anyone else at work is ready to join you in your quest for lottery success.

Forming a Syndicate Online

Lastly, joining or starting an online syndicate is a choice that is gaining in popularity. This strategy has also been successful in the past; for example, a Facebook syndicate formed by British Gary Schei that included 38 members and won nearly $1.4 million, though some of them never having met before. The greatest aspect of online syndicates is that a lot of businesses will group you up with people online, sparing you the work and time of setting up a lottery syndicate yourself. Additionally, they won’t stab you in the back because money is automatically divided among syndicate members, which is always a good thing. Alright, you give up asking your family and acquaintances about this, but really all you have to do is join up, relax, and wait for the cash to eventually start pouring in.

Some of the most trusted online syndicate companies.

1. Lottoland – One of the most reputable and well-known syndicate lottery firms in the world is Lottoland, which is in Gibraltar. It provides the EuroMillions jackpot in addition to syndicate games in a variety of countries including the US and Spain.

2. LottoGo – LottoGo, which is based in the UK, gives lottery players from around the world the chance to participate in virtual syndicate games. Lotteries held in countries including Australia, Italy, Finland, and Poland fall under this category.

3. Lotto Social British-based Lotto Social is a well-known and trusted online lottery syndicate corporation. Members have the chance to win the EuroMillions jackpot or the UK National Lottery jackpot, and they also have the chance to be enrolled automatically into free reward contests. Players can win rewards like vacations or spa days.

You have a variety of alternatives for participating in and winning the lottery, including joining a syndicate with friends, relatives, coworkers, or even total strangers.

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Asad Elahi

Asad Elahi is a personal finance expert and author with over 5 years of experience in the industry. He has written extensively on topics such as saving, investing, and building wealth, focusing on helping individuals achieve financial independence. His work has been featured in major publications such as Forbes and The Wall Street Journal, and he is a regular contributor to financial websites and blogs.