A lottery syndicate is a group of people who buy lottery tickets collectively and share any winnings in proportion to each person’s contribution. By pooling their money and purchasing several tickets together, the group markedly improve their chances of winning the jackpot. Here at LottoSocial, our online syndicates offer a quick, easy and secure way to play in a syndicate!

What are the benefits of a lottery syndicate?

The main benefit of a lottery syndicate is the enhanced chance of success. For example, if somebody enters the National Lottery alone, they have about a one in 14,000,000 chance of winning the jackpot. Yet, if they play with a group of nine other players through LottoSocial, they’ll have a 10 in 14,000,000 chance of winning. Whilst you’ll have to share the prize with the rest of the group, the increased odds of bagging the main prize make this compromise well worth it! Being part of a syndicate is also a more cost-effective way of playing your favourite lotteries. You can spend what you usually would,  but with a much higher chance of success. 

How do you set up a lottery syndicate?

Join a fully-managed syndicate like a LottoSocial syndicate! At LottoSocial we put you in online syndicate groups with others. This saves you the from having to find people to join your syndicate. The unfortunate reality with offline syndicates is that there is a risk of deceit and deception from certain members. This can lead to others missing out on the prize money. When playing in a fully-managed online syndicate, you can avoid this kind of risk altogether. Online syndicates guarantee you the prize money from any draws you enter. 

Here at Lotto Social, we will automatically purchase your tickets, add them to existing syndicates and manage any payouts for you. There is no chance of a syndicate member refusing to share the winnings. All you need to worry about is how you spend that prize money! Moreover, we bring our customers together to play the lottery by providing spaces for you to chat and join new communities. The clue is in our name. We ensure the lottery is no longer an individual game but a social one!

The importance of a lottery syndicate manager and a binding agreement

If you’re forming your own syndicate offline, it’s essential to have a binding contract setting out the rules of playing. You’ll also need to appoint a syndicate manager. When playing through LottoSocial, all of this is automatically taken care of. We will handle the purchasing of tickets and distributing winnings. 

By agreeing to our terms and conditions, you agree to be bound to this setup. You do not have to worry about appointing a syndicate manager or organising anything. It is also imperative for all members to sign a binding agreement to help prevent issues.

The agreement should outline: 

• Who each member is and what duties they have (e.g. the syndicate manager)   
• How much each individual is contributing   
• Date of the syndicate creation  
• A formal payout procedure detailing what happens in the event of a win

Your syndicate agreement should also include clauses for members wishing to join or leave the syndicate and what happens in the event of a missed payment. All of this will settle any disputes. Such as, if you win big and a member or two claims they’re entitled to a larger share than everyone else. This will protect every member and guarantee fairness. All members must sign the agreement to certify that they understand and agree with the terms outlined and make it binding.

For online syndicates, all of these considerations are in the terms and conditions members agree to when signing up. As a result, there is no need to draw up your own agreement. You do not need a license or permission to form your own syndicate, although you must create it in a particular way to ensure that it doesn’t ‘promote a lottery’ under the Gambling Act 2005. Due to this, the syndicate manager must be the only ticket holder and the sole member with a direct claim. If every syndicate member had direct claims, this would be ‘promoting a lottery’.   

By increasing your chances of winning, playing in a lottery syndicate is a no-brainer if you’re looking to get rich! With LottoSocial syndicates offering a more straightforward way of entering lottery draws as a collective, you can now be part of a syndicate in no time. 

Join our Starter Club to be in with a chance of winning big right away!