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

The main strength they have is that the syndicate can greatly increase their chances of winning. The disadvantage is that they must share the earnings with all that are included in the lottery syndicate.

This poses a question, 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.

This means that were one person can buy a lottery ticket, a group of like minded people could buy a hundred..This hughly increases the chances of winning. But the down side in lottery syndicates is that the winnings are dispersed among the group.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 many years and have are very popular in Europe. This is especially true in the UK, where there are official syndicates that manage the funds and have each member contracted so that there are no arguements when the syndicate wins.

One country where syndicates are not common is the USA. The main reason for this is that each of the seperate states have their own lottery with only a few lotteries being available in multiple states. The lottery that is available in the greatest number of states is the Powerball and also to a lesser degree Megamillions.

This makes lottery syndicates not very common in the USA but which there is a big demand, 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 difficulties that would require to be overcome for lottery syndicates and many just aren’t eager to go through all the paperwork and issues.

The main disadvantage with traditional lottery syndicates are that there is no sure way to contractually bind the members in the lottery syndicates when they are a group of friends/families. This may sound strange, but when the jackpot is won there can be hugh arguments and expensive legal actions. This is the reason that organizations and organised syndicates have been the most sought after solution.

One solution to the syndicate problems is the elottery syndicate system this allows the management of the syndicate by a seperate 3rd party insuring that all fees are collected and winnings are evenly distributed. Currently syndicates are possible in the National Lottery in the United Kingdom, Euro Millions Lottery and the Spanish ElGordo Lotteries .

These syndicates are available to people 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

Tags: Euro lottery, Euro Millions, Euromillions, lottery, Lottery Syndicate, Lottery Syndicates, Lotto, Megamillions, National Lottey, Powerball

This entry was posted on Friday, May 22nd, 2009 at 8:05 am and is filed under Casino Gambling. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.