What are Lottery Syndicates?
A lottery syndicate, also called a ‘lotto pool’ is a group of players who combine their money to buy lottery tickets as a collective. This includes Powerball and Mega Millions lotteries. Syndicates can consist of family members, friends and colleagues. You can also join an already established syndicate at the retail store where you purchase your lottery ticket.
The cost of the purchase is equally split between however many participants there are. This allows the group to get more value for money, without having to pay more. If one or more of the tickets win, the prize money is split proportionately amongst the group members.
There are terms used in online lottery syndicates that is useful to understand before you join a group. In the text below, lines refer to the different number combinations that are bought by a syndicate. A 50-line syndicate would include 50 unique number combinations which gives members 50 chances of winning the jackpot. A 100-line syndicate would include 100 unique number combinations that offer members 100 chances at winning the jackpot, and so forth.
Each syndicate is made up of various share entities that is available for purchase when you join a syndicate group. ‘Total shares’ refers to the portion or percentage of the prize money you stand to win if your syndicate is successful in winning the jackpot. And, the more shares you buy, the larger your portion.
Find a National Lottery Syndicate Online
Lottery Syndicate Page Links
Syndicate Sites for US Players
theLotter is an independent online lotto ticketing provider that provides the option to join an online lottery syndicate. The service is available to players worldwide. The site offers many types of syndicates, all you need to do is choose which one you’d like to join and buy shares. The amount of shares you’ve bought will be directly proportional to the amount of money you’ll receive should your syndicate win. theLotter functions by preselecting numbers and buying lottery tickets prior to every draw. Players who log onto the site wanting to join a syndicate simply clicks the syndicate icon. theLotter then assigns each player to a group. The syndicates who have won money will be notified, and the winnings will be split in order of initial share size.
A second option for US players is LottoLishus. This is an online lottery pool provider. On this site you have the option to join a syndicate for US lottery variations Mega Millions or Powerball. Site users need to buy their tickets four weeks in advance and draws are held twice a week. You can buy two Powerball tickets at a time for $4, or two Mega Millions tickets for $6 at a time. Alternatively, you could buy a combination of both for $8 a week.
Types of Syndicates
Different types of syndicates are available and whichever one you choose is up to you. We’ve explained a few of the options for players in Powerball syndicate below:
- Random Selection Syndicate. Random selection syndicates choose numbers at random for a fixed number of lines on the lottery ticket.
- Systematic Syndicate. A systematic syndicate covers all probable combinations in a set of 7-14 numbers. The numbers to fill out this tally is chosen at random.
- Guaranteed Number Match Syndicate. With this syndicate type, its guaranteed that you will match one of the 5 main numbers in the Powerball game. As you may know in Powerball you need to choose five main numbers between 1-69. This syndicate therefore has at least 69 tickets, each including a number between 1 and 69. The 5 main numbers will derive from the 1-69 number range making this guaranteed. The rest of the numbers are chosen at random.
- Additional Number Syndicate. This syndicate on the other hand guarantees that you will match the Powerball number. All Powerball numbers derive from the numbers 1-26. This means that at least 26 tickets will be bought, each including a number between 1 and 26. The rest of the numbers are also selected at random. /li>
Advantages & Disadvantages of Syndicate Play
- The biggest advantage of joining a syndicate group is that by sharing resources with other players and joining efforts, you significantly increase your chances of winning a cash prize, or better yet, the jackpot. One ticket has about a 1 in 45 million chance of winning the lottery jackpot. However, if you’re a syndicate group of 10 buying 100 tickets a week, the odds do begin to look a lot less astronomical.
- A second advantage to syndicates is that even if you don’t win the jackpot, you get some of your money back. If you’re buying 100 tickets, it’s likely that some of those tickets will win some money in the lower prize divisions. The amount will then be split between the members, giving you a small return on investment. This is better than nothing.
- The biggest disadvantage is that if your syndicate group happens to win the lottery jackpot, you will not receive the full value of the jackpot because apart of the syndicate agreement is that you split all earnings evenly amongst all lotto syndicate winners.