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Lottery syndicates online

noahwill's avatar - Lottery-023.jpg

I usually buy my lottery tickets online at theLotter and I see they're now offering syndicates on the site. So now I've been wondering if I should I play syndicates. Has anyone done this before? How much are your odds improved by? What are the advantages and are there any downsides to playing lottery syndicates?

savagegoose's avatar - ProfilePho

you get a share of more tickets for the same money. but  when those tickets win, you get lesser share of the prize  money.  i imagine math wise its actually better than buying all your own tickets.

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In response to noahwill

What is a lottery syndicate, and how does it work ????

LottoMetro's avatar - Lottery-024.jpg

Your expected value of winnings doesn't change; however, your variance decreases. In that sense, it is better to play in a pool. If you don't mind taking less winnings in exchange for more chances to win, then it's a good idea. If you want more winnings at the cost of fewer chances to win, then it's not.

There are other issues of course, especially with sharing agreement and whatnot. Personally, I avoid playing the lottery online because even if you hit the jackpot, there is no real guarantee you will get to collect. The proprietors could easily claim the ticket and leave the country. Also, for us players in the United States, most states have laws against mail/Internet ticket purchases (especially from third-parties) and would find any excuse to weasel out of paying your claim.

RJOh's avatar - chipmunk

I've heard of individuals and pools winning jackpots but I've never heard of a syndicate winning one.  Certainly if they buy as many tickets as they claim then they must have won many different prizes but there must be a reason no prize has ever been claimed using an on line syndicate name.

The trouble with on lines syndicates is they're quick to tell players the advantage of playing in such a big group while skipping the difficulties of collecting winnings.  Ask plenty of questions before you join such a group because someone came up the scheme to make money for themselves, not you.

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In response to RJOh

You're forgetting the Aussie syndicate that bought out the Virginia Lotto. But it's easy to forget because rules were changed preventing it from happening again. If I'm considering joining a pool or a syndicate, I want to see what we're playing before the drawing and probably not easy for a syndicate based outside the U.S.

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In response to destinycreation

Is this like an online lottery pool ???  How can you trust such a concept, with a group of strangers, playing jackpot lotteries ??  Where is Common Sense in this picture ??

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I played 1 share also this tuesday. The winnings are shared among all winners but they charge much more on the ticket.

My calculation on Euomillions. First, regular tickets bought at official resellers cost much less. 1 line of euromillions cost 2 euro in most countries, about $2,5. This online reseller sells single lines for $6.25 thats $3,75 added on the real price.

And when they sell tickets in syndicate they add even more fees, a single line now cost $17,34 that's $15 more than regular tickets. The syndicate buys 126 ticket, regular price on the site would be $787 but all shares in the syndicate are sold for $2184, thats 277% the price of a single ticket on the site and 693% of the cost of an single ticket at official reseller. 

I won 72 cent on my share. So I keep buying regular tickets, less of a chance of winning but more fun...

maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
In response to destinycreation

Lottery is already a tough nut to crack so when you add the possible difficulty of collecting your pay should you win then it becomes a bad idea to be in a syndicate. In fact I only participate in the work pool to avoid the chance that I might be the only one left if others won, otherwise I don't like pools.

noahwill's avatar - Lottery-023.jpg

Thanks LottoMetro for your input about the syndicates!

Regarding the sharing agreement, theLotter will set it all up which is why it seemed preferable to getting my own syndicate together. I'm from Australia so i dont have the laws to worry about so that is why playing online works for me. I'm also comfortable using this site because they've been around for 12 years and have a really good reputation. Have you played syndicates yourself?

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I think it's a bit strange to compare it to costs in a local store... I mean, if you buy your ticket online it's probably because they don't sell the lottery you want to play in your store...

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I know theLotter specifically had a $1 million winner, so I personally think they are good on their word, but to each his own.

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I trust them also. But I play after cost/chance ratio. I have made a simple spreadsheet to calculate this.

In Sweden Eurojackpot is the only official multi-country lottery with similar odds of winning like Euromillions. One single line on Eurojackpot here costs $3,33 compared with Euromillions syndicate $17,34. I get more than 5 lines for each Euromillions ticket. Svenska Spel (Swedish gambling company) have plans to include Eurojackpot in their syndicate play, these tickets like regular swedish Lotto syndicate will cost the same as regular tickets bought. 

The bigger question is what happens if a syndicate on thelotter strikes big? I trust them when it comes to single winners, but when 126 people with single shares travel to the country tha lottery was played in, to claim their prizes? And can they really offer plane tickets also to all those winners?  I think it will be big trouble then, that's why I stick to playing my own tickets.

JeetKuneDoLotto's avatar - cK0gcqX
In response to noahwill

Do you have to join their syndicate?  Are there multiple syndicates?

Can you start your own syndicate at the site?

noahwill's avatar - Lottery-023.jpg
In response to JeetKuneDoLotto

I was wondering the same thing so i did some homework and it seems like you can't start your own one but there are a couple already there to choose from.

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