How to set up a Lottery Syndicate

Lottery Syndicates are a double edged sword. The have some major advantages and also some downsides.

The main advantage they have is that the syndicate can greatly increase their chances of winning. The down side is that they must share the winnings with other members of the lottery syndicate.

So what exactly is a Lottery Syndicate

Lottery syndicates are when any collective of people pool their resources for the lottery. This can include a family, or even co-workers.

Therefore instead of purchasing only one ticket for a draw the syndicate can purchases 10, 20 or even hundreds of tickets.This means a greater chances of having the winning ticket. Of course the downside in the lottery syndicate is that you need to share the prize with other syndicate members.But imagine if you won 50 Million in the Euro Millions Lottery – I am sure you would prefer having a percentage of this, how about 1.2 million, than nothing!

Lottery syndicates have been around for a very long time and have are very popular in Europe. This is especially true in the United Kingdom, where there are official syndicates that manage the money and have each member contracted so that there is no dispute over the winnings.

The only place that lottery syndicates have not gained a strong hold is the United States. The main reason for this is that there are 38 states that have state run lotteries and there are only a small number that are ran in multiple states. The lottery that is available in the most states is the Powerball and also to a lesser degree Megamillions.

This makes lottery syndicates something that is desired in the United States, but unfortunately it is something very difficult to have happen. There is also the issue of the state and Federal laws. There are so many compliances that would have to be met for lottery syndicates and many just aren’t willing to go through all the paperwork and issues.

The main disadvantage with traditional lottery syndicates are that there is certain way to contractually bind the members of the lottery syndicates when they are a group of friends/families. This may sound {foolhardy|strange}, but when the {jackpot|big prize} is won there can be bitter arguments and expensive legal actions. This is the reason that organizations and organised syndicates the best solution.

One solution to the syndicate disadvantages is the elottery syndicate system this allows the management of the syndicate by a seperate 3rd party insuring that {all fees| entry money} are collected and winnings are correctly distributed. At the moment syndicates are possible in the National Lottery in the United Kingdom, Euro Millions Lottery and the Spanish ElGordo Lotteries .

These syndicates are available to members from anywhere in the world (with the exception of the USA). Could your syndicate be the one that wins the BIG Jackpot? For more information on setting up or joining a syndicate and your opportunity for a free entry into the next UK lottery please view free video at Euro Lottery Syndicates