The organisers of the UK National Lotto and Euro Millions lottery state that twenty five percent of jackpots are won by lottery syndicates. But organising a syndicate can be more trouble than it is worth unless you get it right.
The traditional syndicate is usually made up of a group of family members or work colleagues who club their resources together each week and buy a number of lottery tickets between them. Any winnings being shared out between the syndicate members.
The first problem usually encountered by the syndicate leader is trying to collect the lottery money each week. This can result in a lot of time wasted in chasing other syndicate members for their cash.
Another problem for the syndicate leader will be that of having to go out and queue up to purchase the tickets every week – more time wasted. And woe betides him if he forgets to do this, especially if the syndicate numbers come up on that particular week.
On the other hand, if the syndicate does have a big win one week, there is always the possibility that the leader might abscond with all the lottery winnings or at least not share them out with the other syndicate members.