Lottery Syndicate Disadvantages

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

The main advantage they have is that the syndicate can greatly increase their chances of winning. The disadvantage is that they must share the winnings with other members of 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.

Therefore instead of purchasing only one ticket for a draw the syndicate can purchases 10, 20 or even hundreds of tickets.This means a greater chances of having the winning numbers. Of course the downside in the lottery syndicate is that you need to share the prize with other syndicate members.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 gained a strong popularity in Europe. They are particularly popular in the United Kingdom, where there are official syndicates that manage the funds and have each member contracted so that there are no arguements when the syndicate wins.

The only place that lottery syndicates have not gained a strong hold is the United States. The main reason for this is that each of the different 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 certain way to contractually bind the members in the lottery syndicates when they are a group of friends/families. This may sound {foolhardy|strange}, but when the {jackpot|big prize} 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 disadvantages is the elottery syndicate system this allows the management of the syndicate by a seperate 3rd party insuring that {all fees| entry money} are collected and winnings are evenly distributed. Currently syndicates positions are available in the National Lottery in the United Kingdom, Euro Millions Lottery and the El Gordo Lottery in Spain .

These syndicates are open to people from all over the world (with the exception of the USA). Perhaps your syndicate will be the one to win the hugh Euro lottery Jackpots 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