United States
Member #139,773
March 3, 2013
605 Posts
Offline
Quote: Originally posted by johjoh on Jul 9, 2021
Someone please explain a lottery syndicate and how to join.
The problem with a syndicate is does everyone trust the people running the syndicate??? So every one pitches in and hits a jackpot just to have someone running it run off withthe winning ticket. Yea you can try to sue them legally but if they have either hidden the winnings or spent all of it before the group can get to them in court. Youwould be suprised at the number of people willing to spend a few years in jail if they knew they had millions when they got out even if they had to hide.
A lottery syndicate is where a group of people pool their funds together in order to buy more tickets than they could normally afford to play for a split of the winnings if one of the tickets hit. How does this work ... I was in one on a job ... It hit for a million ... After lawyers fees (collecting and checking every ticket) divided by 73 other players and after taxes it came out to 9800 bucks each. Yea the lawyer took a chunk but no one trusts each other at any level when alot of money could be involved. So everyone agreed the lawyer route was the way to go at the time and where we were at for piece of mind.
Dump Water Florida United States
Member #380
June 5, 2002
3,574 Posts
Offline
Quote: Originally posted by johjoh on Jul 9, 2021
Someone please explain a lottery syndicate and how to join.
It's better to start your own syndicate then be a member. Reason being you are sure you know how to win, but do not have the funds to carry out your plan. Raising funds among a group of friends and workers works well while winning and falls apart when not. You can trying searching for lotto pools online, do the math, avoid those that make a profit no matter how they try to hide the fact.
Belgium
Member #214,858
April 17, 2021
2,445 Posts
Offline
Quote: Originally posted by lottologix on Jul 10, 2021
The problem with a syndicate is does everyone trust the people running the syndicate??? So every one pitches in and hits a jackpot just to have someone running it run off withthe winning ticket. Yea you can try to sue them legally but if they have either hidden the winnings or spent all of it before the group can get to them in court. Youwould be suprised at the number of people willing to spend a few years in jail if they knew they had millions when they got out even if they had to hide.
A lottery syndicate is where a group of people pool their funds together in order to buy more tickets than they could normally afford to play for a split of the winnings if one of the tickets hit. How does this work ... I was in one on a job ... It hit for a million ... After lawyers fees (collecting and checking every ticket) divided by 73 other players and after taxes it came out to 9800 bucks each. Yea the lawyer took a chunk but no one trusts each other at any level when alot of money could be involved. So everyone agreed the lawyer route was the way to go at the time and where we were at for piece of mind.
After having won a 5/6 with 5+R / 10 alone, I started a pool again after suggestion, but didn't really want to.
I had to get the money, I had to do the stats, I had to fill in a dozen forms by hand, I had to go validate, I sent a copy of the combinations by e-mail, did the calculations. - I think that I could have played less lines, but with more people playing 4/4 14 numbers was not a bad idea.
I say, keep it simple. For a year, everyone puts a big amount in the bucket, the game organizer holds the money on his account and is trusted. The combinations should not be mailed or shown before the drawing. The distribution of eventual net win could be done end of the year. Don't start with waiting for everyone to show up and pay the $20 or whatever amount, depending of the count of people. Don't waste your time there.
Maybe make people write the amount to the bank account to leave an official trace or document for the payment? We used a bank account just for the games. Unfortunately we didn't win big. I also was tired of it.
Shops organizing pools often printed quickpick fullsystems for the total amount collected. I said that I didn't like it, but cannot say that a quickpick cannot win the jackpot. The shops do not have wheels or plenty of play systems in the computer sales system.
700 light yrs West of Milky Way Galaxy's Center United States
Member #200,642
September 1, 2019
4,153 Posts
Offline
Quote: Originally posted by Speler on Jul 10, 2021
After having won a 5/6 with 5+R / 10 alone, I started a pool again after suggestion, but didn't really want to.
I had to get the money, I had to do the stats, I had to fill in a dozen forms by hand, I had to go validate, I sent a copy of the combinations by e-mail, did the calculations. - I think that I could have played less lines, but with more people playing 4/4 14 numbers was not a bad idea.
I say, keep it simple. For a year, everyone puts a big amount in the bucket, the game organizer holds the money on his account and is trusted. The combinations should not be mailed or shown before the drawing. The distribution of eventual net win could be done end of the year. Don't start with waiting for everyone to show up and pay the $20 or whatever amount, depending of the count of people. Don't waste your time there.
Maybe make people write the amount to the bank account to leave an official trace or document for the payment? We used a bank account just for the games. Unfortunately we didn't win big. I also was tired of it.
Shops organizing pools often printed quickpick fullsystems for the total amount collected. I said that I didn't like it, but cannot say that a quickpick cannot win the jackpot. The shops do not have wheels or plenty of play systems in the computer sales system.
Yeeaa,...
Tell me about it,...I once had to do the same for a Lottery Club Pool ...until I delegated some of the leg work to others in the Club..
I made it my job to study the Stats..We opened a Bank account, verified each of our deposits via emailing every member with a copy of the deposit slips..as we were scattered throughout the Country..
Kept pretty good Bank balance records,..as I was entrusted with the account's ATM card..We voted on what jackpot sizes to wage on...I'd email whatever amount I'd withdraw, as needed for the accumulated tickets of our voted on draw wage, via the withdrawal slip....
But , like you, grew tired of all the work associated with people not being trustworthy..!!, failing to deposit their required amount, not waiting til we had enough funds for a decent assault on the odds..etc..for I, as you were, was dead set against QPs..as they're a waste of money..
The biggest problem was with the bank, being nosey about so many different PeOpLe making deposits to the account..not withdrawals,..for I only withdrew..
-Stat$talker
...MATH... The final Stochastic frontier...
These are the Lottery Voyages of Stat$talker..!!
The ongoing Mission,..to seek out the Laws of "Probability Math"...
to master its rules to invoke...to Conquer ALL Major Jackpots..!!
...To boldly go,... Where NO Player has gone before...!!
Belgium
Member #214,858
April 17, 2021
2,445 Posts
Offline
Quote: Originally posted by Stat$talker on Jul 10, 2021
Yeeaa,...
Tell me about it,...I once had to do the same for a Lottery Club Pool ...until I delegated some of the leg work to others in the Club..
I made it my job to study the Stats..We opened a Bank account, verified each of our deposits via emailing every member with a copy of the deposit slips..as we were scattered throughout the Country..
Kept pretty good Bank balance records,..as I was entrusted with the account's ATM card..We voted on what jackpot sizes to wage on...I'd email whatever amount I'd withdraw, as needed for the accumulated tickets of our voted on draw wage, via the withdrawal slip....
But , like you, grew tired of all the work associated with people not being trustworthy..!!, failing to deposit their required amount, not waiting til we had enough funds for a decent assault on the odds..etc..for I, as you were, was dead set against QPs..as they're a waste of money..
The biggest problem was with the bank, being nosey about so many different PeOpLe making deposits to the account..not withdrawals,..for I only withdrew..
-Stat$talker
The biggest problem was with the bank, being nosey about so many different PeOpLe making deposits to the account..not withdrawals,..for I only withdrew..
An independent opened the bank account with me. The use was written down when opening the account.
Canada
Member #203,923
January 22, 2020
55 Posts
Offline
Hi, sounds interesting, please give more details what type of account can be opened for sharing with many people. This is only one problem I see to make pools working on internet, rest like maintenance, mailing copies of tickets playing big combos or systems (not quick picks) is solvable. Or any other solution how to manage deposits in trusted way, ideas? thank you, prtt
700 light yrs West of Milky Way Galaxy's Center United States
Member #200,642
September 1, 2019
4,153 Posts
Offline
Quote: Originally posted by prtt on Jul 11, 2021
Hi, sounds interesting, please give more details what type of account can be opened for sharing with many people. This is only one problem I see to make pools working on internet, rest like maintenance, mailing copies of tickets playing big combos or systems (not quick picks) is solvable. Or any other solution how to manage deposits in trusted way, ideas? thank you, prtt
"pleasegive more details what type of account can be opened for sharing with many people. This is only one problem I see to make pools working on internet"
I believe just a regular "Checking Account" would be sufficient,.. a good suggestion would be to make sure the Bank includes in their records an explanation as to why different people from all over will be making deposits into the account..
It's very important that whoever holds the ATM card to the Account is Trustworthy..!! or things will go South rather quickly..!!.. not to mention , that person will most likely be the one purchasing the lottery tickets.. You don't want someone that will freakout should you all win a MultiMillion Jackpot!
Draw up an agreement that ALL the Club members must sign..There are Lottery Club ready-made Contracts online..(Google it) and members here that are Attorneys, that might expound on other safe-guard steps to take..
and Good Luck..!! ...and that'll be $39.95
-Stat$talker
...MATH... The final Stochastic frontier...
These are the Lottery Voyages of Stat$talker..!!
The ongoing Mission,..to seek out the Laws of "Probability Math"...
to master its rules to invoke...to Conquer ALL Major Jackpots..!!
...To boldly go,... Where NO Player has gone before...!!
united states United States
Member #212,945
January 21, 2021
475 Posts
Offline
Although I have never tried this I often thought about it. Create an agreement that everyone will purchase an specific amount of tickets , sign the back with your club name and send a copy of such tickets to every member. No money to pass and if they don't buy their share of tickets they don't get in that draw. I'm sure it would take some details but sounds much easier to me.
Canada
Member #203,923
January 22, 2020
55 Posts
Offline
here we go ! excellent idea, solving bank account issues. start looking more like mining bitcoin in pool ;) now, as i understand for example OLG.ca (Ontario, Canada) recommends to captain of pool sign each ticket with name and add "IN TRUST". so if each member of pool will sign same way and upload tickets to pool would it make proof enough to everybody not to be scammed if someone win big one and will try to hide it? would be good idea to consult with lawyer on agreement to ensure this? also, lets start to think what way to play in pool - for example powerball second prize is 1 million. to hit 5 numbers what would be good system? select 3 numbers + 2 from rest 68. total 2415 tickets which is affordable for pool. and play same 3 numbers once they hit, and once they hit, 2 other numbers will be guaranteed to be there. 3 numbers should not be that hard to hit with time, same idea for other lotteries, like classic 6/49, 15180 tickets for 3 fixed numbers + 3 from rest 46. imagine feelings when just 3 numbers will pay you jackpot instead of $5 or whatever they pay for 3numbers? what do you think players?
Canada
Member #203,923
January 22, 2020
55 Posts
Offline
all depends on size of pool, of course, more people, more tickets, but main idea to play NOT quick picks, like every work pool playing in the world and winning once per 100 years. i know for sure its a way to print custom tickets for each member of pool on home printer within minute(s), so this is no problem. how to play - anybody can introduce own way to play - with system, big wheel, etc, as long as members like it they can join. has to be clear to understand of course.