A lottery syndicate is when a group of people get together and buy a lot of lotto tickets for members of the group as a whole. Each member invests money for one or more shares in the syndicate which is then used to purchase tickets for a particular draw. The more tickets that the syndicate buys, means the more chances there are of winning. Any winnings are shared equally amongst the participants, and those with more shares receive proportionately more.
What Participants Need to Know
As participants may be joining a group of strangers, it's a good idea to make sure there is an official agreement, detailing all the terms and conditions of the syndicate, so that any disputes can be resolved easily.
Reading the Ts and Cs is important just like any contract, and players should be particularly aware of what would happen if all the shares are not bought before the draw. It's also a good idea to do some homework on the online lottery site by checking some independent reviews to see other people's experiences with them.
User experience is an important factor as each lottery site online has its own design which should be clear and easy to navigate. The site should also have an easily accessible customer service, preferably via a number of different means, with staff who are knowledgeable and helpful in the case of a problem.
It's worth bearing in mind that not all online lottery websites offer the same games. Some sites may only offer chances of winning on one lottery, whilst some others offer chances to place bets on a number of international lotteries. Jackpot sizes will vary and depend on the number of players and how the payout is made.