Lottery Syndicate Disadvantages

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 hughly increase their winning chances. The disadvantage is that they must share the earnings 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 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 gained a strong popularity in Europe. This is especially true in the UK, where there are official syndicates that manage the money and have each member contracted so that there is no dispute over the winnings.

One place where syndicates are not popular is the USA. 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 most states is the Powerball and also to a lesser degree Megamillions.

This makes lottery syndicates something that is desired in the United States, but unfortunately it is something very difficult organise. In addition the gambling laws in the USA are very strict. There are so many compliances that would have to be met for lottery syndicates and many just aren’t willing to go through all the paperwork and issues.

The main difficulty with traditional lottery syndicates are that there is no sure way to contractually bind the people of the lottery syndicates when they are a group of friends/families. This may sound foolhardy, but when the jackpot is won there can be bitter arguments and expensive legal actions. This is the reason that organizations and organised syndicates the best 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 are collected and winnings are correctly distributed. Currently syndicates positions are available in the National Lottery in the United Kingdom, Euro Millions Lottery and the Spanish ElGordo Lotteries .

These syndicates are open to people from anywhere in 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