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Pros and Cons of Playing in a Lottery SyndicatePrev TopicNext Topic
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It sounds like you're talking about playing the lottery over the internet in one of those "syndicates" offered on a website. I am guessing that because the word "syndicate" is really only used overseas. In Texas and around the US, playing with a group is called a "pool", not a syndicate.
So I would caution you about playing on a website, especially when you are playing in one of these "syndicates". They are not something setup by the lottery — it is created by the person or company that runs the website. So unless you have total trust in the person or company, I would suggest you forget it.
From my own research, typically the share of any prize you would receive is so small that it makes much more sense to just buy a ticket yourself. Sure, your odds are better of winning something, but it is not just a group of people sharing a stack of lottery tickets — the website itself takes in money, either by increasing the ticket cost or taking a share of the prize. So the money you're wagering becomes out of balance with the amount you can win.
The other thing that I find troubling about it is, what if the stars align and the syndicate happens to win. How would that group claim and share the jackpot? There might be hundreds of people from around the world contributing money to the ticket. Does the person or company running the website have the means and capability of organizing a mass migration of all of these people from all corners of the globe to the USA, all at the same time, to whatever state lottery headquarters? None of these syndicates has ever won a major USA jackpot, so it's really untested and could end up a disaster. Again, if you don't know who you are dealing with.
The one company I have put a lot of trust in over the years is thelotter, which is a very good company that has delivered multiple jackpot wins over the years. They also offer a syndicate service. Personally, I would still recommend that people play individual lottery tickets rather than an online syndicate, but if I was determined to play in a syndicate, I would do it there.
Unfortunately, thelotter is currently going through a restructure of how they do business in certain countries, so they are temporarily unavailable in major countries such as the USA, Canada, and Australia. I do have assurance from them that they are working to re-establish their presence in these countries soon. As unfortunate as their absence is, it is also a sign that the company is doing things the right way, and is aligning themselves to stay in business for the long haul. (They are already in business for over 15 years.)
I hope this helps a bit.
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Good advice Todd. Just the word 'syndicate' brings to mind 'The Godfather'.
I believe in Occam's razor:
The Simplest Answer is Usually Correct.
