Positive and Negative Aspects of Joining a Lottery Syndicate
What You Need To Know (And What You Don’t Want To Know)!
For tons and tons of people, lottery syndicates seem to be the answer for winning lottery jackpots, but what they don’t know is that a lottery syndicate isn’t as simple as it looks. For an average lottery player buying multiple tickets can be next to impossible. A lottery syndicate enables lottery players to buy multiple lottery tickets in order to increase their odds of winning the lottery jackpot. Lottery syndicate is where 10, 20 or even more players get together to buy lottery tickets now for that average lottery player joining a lottery syndicate is a dream come true.
Every cloud has a silver lining when it comes to lottery syndicates not everything is hunky-dory in fact, we’ve heard and seen a lot of cases where members of the lottery syndicate refuse to pay out other members just because of one mistake. Do you know about the bitter case of the Lawrence beauty salon? With the aim of hitting the jackpot a group of beauty therapists came together to form a lottery syndicate, but group quickly shattered and divided and accused one of their own trying to rob them of their fortune worth a staggering amount of $9 million! Presenting to you the positive and negative aspects of joining a lottery syndicate:
Better Odds of Winning the Jackpot
As I mentioned earlier a lottery syndicate is a group of 10 or even more lottery players who come together to buy lottery tickets. So if your chances of winning the lottery jackpot is one in millions you are already buying 20 tickets more than what you would have bought if you weren’t part of the lottery syndicate – therefore you have already increased your chances of winning the lottery jackpot. In simple terms the more people join your lottery syndicate, the more money is pooled, the more tickets are bought in, the greater your chances of winning some kind of prize!
Nasty Decision Making Process
Obviously, because they are more than 10 people in a lottery syndicate, the decision-making process will go less than smooth. Remember that the more people involved in the syndicate, the more opinions there will be about what numbers to pick, how to play the game in general, when to buy the tickets, how much to buy them for etc. So if you’re not great at working with other people you should not join the lottery syndicate. At the end of the day everyone wants to win the lottery jackpot, but if people have different opinions it can lead to stress and tension between members of the same lottery syndicate.
United We Stand, But We Divide the Fortune
Probably one of the biggest problems with joining the lottery syndicate is the fact that when you join a lottery syndicate, everyone wants a big share of the fortune, if you win the lottery jackpot. Some have even robbed others of their entire fortune claiming it all for themselves – like the story of the Lawrence Beauty Salon.
Lottery Syndicate – A Dream or a Nightmare?
It’s a dream and a nightmare! But if you handle the paperwork and keep things organized, it is a dream come true. That being said, there are ways to limit the nightmare and make the overall lottery syndicate process a happy one. When you enter a lottery syndicate use a legally binding syndicate agreement which highlights possible scenarios that might cause a problem if you win a lottery jackpot. That being said, there are a lot of lottery providers that offer syndication, i.e. the eligibility to participate in lottery syndicates, but the problem is that sometimes even they don’t know how many people each group have! In simple terms, if a group of 1 ticket contains 1,000 people, the chances of winning anything, if the group wins the jackpot, is very low from the beginning. To avoid this issue:
- Ask for the amount of people who have entered the group. Don’t join big groups if the amounts of tickets are low.
- Ask how many tickets have been purchased so you can quickly calculate how much it costs you as opposed to how much you can win.
- Most importantly, remember to verify the company and make sure that it is trusted.
So what are you waiting for? Gather a group of friends and colleagues and start your own lottery syndicate!
