What is a Lottery Syndicate? – Tips for Lottery Syndicates
Winning a big jackpot is everyone’s dream, but what if you could buy more tickets to improve your chances? Well, lottery syndicate groups the world over are proving that it can slightly improve your chances. While there are benefits to these group buy-ins, there are drawbacks, too.
So, we’ll be answering these questions below:
What is a lottery syndicate?
How does it work?
Why should you take part?
Also, how do you start a syndicate?
What happens when you win?
To answer the first question, lottery syndicates are usually a group of players who collectively buy online lotto tickets. These are typically purchased by a manager who will buy them according to the rule that only one person can win. Then, this manager is meant to pay out the winnings to players according to how much they contributed.
Generally, syndicates will buy lottery tickets collectively. Depending on how much you pay in, you’ll get a percentage if the group wins. So, if everyone contributes equally, the winnings will be equally divided between you.
In one of the biggest wins ever, three friends paid in $20 each and won $656 million in 2012. Each member won $218 million before tax.
What Happens When You Win
When your lottery syndicate wins, the winning ticket needs to be handed in, and you’ll decide as a group whether to take the lump sum or lifetime payouts. Either way, these will usually be taxed, and you’ll receive the dividends of what’s leftover.
Types of Lottery Syndicates
To get started, you’ll need to decide which kind of lottery syndicate you want to join. There are four main types:
Lottery Syndicate: Random Selection
In this type, your group will buy “lines” that use unique numbers for each ticket. Most of the time, we advise taking 100 lines because it increases the odds. Here’s an example.
When you buy one ticket, your odds of winning are 6/49, or 1 of 13 983 816 possibilities. Making the success rate 1 to 13 983 816, or 0,000007151%.
If you buy two tickets, this changes to 2 to 13 983 816 or 0,000014302%. That changes the success rate to 1 to 6 991 907.
So, if you buy 100 tickets, what happens? Your chances improve to 1 to 139 837.
So, using 100 lines of randomly generated numbers, you’ve got a higher chance of winning, but not by much. Also, this will depend on the odds of the specific lottery you’ll be playing. Pro tip: use a lottery calculator for this.
Systematic Lottery Syndicates
Like the random selection option, this type of grouping uses all possible unique combinations out of 7-14 numbers. These are also chosen at random, so be sure you’ve got a good stake.
Additional Numbers Match Guaranteed
Added to the random numbers, this version also covered the extra numbers. These also include multiple matches with the hope that there will be at least one match.
Guaranteed Number Match
Using the random nature of lines, this lottery syndicate also includes one changing number. Of course, this will be based on previous draws with one changing number in each line. So, you’ll be guaranteed at least one matching number.
Biggest Lottery Syndicate Wins
Luck of the Irish – EuroMillions Lottery Syndicates
In 2019, a lucky Irish family’s lottery syndicate won €175.4 million from the EuroMillions Superdraw. So, each of the nine children got €19.4 million as their share, and it went down as the biggest win in Ireland. So, it pays to play the EuroMillions.
Before that, three other collectives won in January, July, and December of 2017. Here’s a breakdown:
January 2017: €88.5 million shared between a pool of coworkers.
July: €29 million went to a syndicate in the West of Ireland.
December: €38.9 million went to a small family in Dublin.
Before the 2019 draw, one of the larget wins went to a Dublin pool. They won €86.7 million.
USA Powerball & Mega Millions Lottery Syndicates
North American lottery syndicates also have a bit of luck, with some of the biggest wins in history. Here are some of our top picks:
New Life 2019 LLC – Mega Millions: A group of New Yorkers won $437 million, eventually winding up with $176 million after taxes. Each person received $7.7 million from the 8th highest jackpot win ever.
20 Coworkers – 2016 Powerball: Another group from Tennessee won $420.9 million and took the lump sum payout of $254 million.
Three Amigos – 2012 Mega Millions: Three people got $218.6 million (before) tax when the $656 million jackpot got shared between three winning tickets. The group members got $35 million each after the payout got taxed.
Ocean’s 16– Powerball 2013: 16 colleagues from New Jersey took home $86 million from a $149 million jackpot. Each of the Ocean’s 16 got $3.8 million after taxes.
Australian Lottery Syndicates
Down under, two lucky groups won $55 million in total. In 2014, the first group from a Toyota factory won $15 million from the OZ lotto. However, there were two matching tickets, so the jackpot was divided in two from $30 million.
In 2016, the second group won $40 million, but they faced a court case. According to reports, a 15th man felt entitled to the win. However, the 14 members who won proved that they’d formed a once-off syndicate without him and won the jackpot with one of the tickets.
Lottery Syndicates FAQs
What are the chances of winning the lottery in a syndicate?
Still slim, but slightly higher if you buy enough tickets and you’re investing in the right group.
Has a syndicate ever won the lottery?
Yes, many syndicates have won throughout the world. In fact, an Irish syndicate won €175.4 million, one of the biggest jackpots ever.
Are syndicates illegal?
Not at all, they’re actually perfectly legal to set up and join. Plus, you can register as an organisation to remain anonymous.
Can you do a lottery syndicate online?
Of course, there are plenty of legitimate sites that allow syndicates to sign up and form.
Do you pay tax on syndicate lottery winnings?
Depending on where you live, you might have to pay taxes. In the USA, for example, your total jackpot is taxed by the federal government if you take a lump sum. Then it’s taxed per winning member of the collective.
Do my odds of winning the lottery increase if I buy more tickets?
Yes, but only marginally. Unfortunately, that’s just how it works out, and lotteries need profits to keep operating.
Do syndicates win Lotto more often?
Not really, they just increase the chances slightly. So, be careful and do some research before joining up or creating your own.
What is the luckiest number in the lottery?
According to leading statisticians, the most commonly occurring numbers are 26, 16, 41, 28, and 32. But this is not a guarantee that the numbers will be drawn frequently over a specified period.