A lotto syndicate can work well in the workplace, but there are some considerations that still need to be made. Read more about a workplace lotto syndicate here.
Choosing to set up a lottery syndicate in your place of employment can be a great idea. It is simple to arrange, costs less than if you were to play on your own, and still gives you the chance to win a jackpot. Thinking about setting up a lotto syndicate? Here are some of the factors you need to think about.
What is a Lotto Syndicate?
A lotto syndicate is a group of people who come together to play the lottery through shared tickets. Should a ticket result in a win, the prize will be split equally between everyone who contributed to the ticket.
They are very easy to set up and can be the perfect thing for a small team. For example, everyone in the same department of a business may want to contribute a little towards this syndicate. However, you need to set up some strict rules for everyone who wants to join.
Agree Which Games to Play
There are so many lottery games to play nowadays and you need to select precisely which games you wish to play.
For example, you may decide to be a national lottery syndicate. You all agree that you will only play draws from the official National Lottery draws instead of dipping into the other games. If someone decides they want to play another game, this should be arranged by them outside of the syndicate’s discussions.
Be on Time with Payments
Pick a day that you will purchase the ticket on and make sure that it is the same day each week. This creates a clear deadline for people handing over their share of the ticket. If they don’t meet this deadline, you unfortunately need to be strict about any potential winnings.
Someone may decide to actively pull out of the syndicate, only to get annoyed if a win occurs. It will be up to the group to decide if they share the prizes, despite this person not contributing to tickets.
New Numbers or the Same?
One of the easiest decisions to make with a lotto syndicate by far is the numbers you choose to draw. If you have a smaller syndicate, something easy like everyone’s birthday can be a great way to get a set of numbers that everyone is happy with.
Alternatively, you could decide to just get a Lucky Dip every time so you are awarded completely random numbers.
Who Will Buy?
You also need to nominate someone to purchase the tickets for your lotto syndicate. The same person could be nominated by the group to keep it easier to keep track.
Alternatively, you could set up a rota so everyone in the syndicate has to take a turn buying.
Setting up a joint online account for purchasing tickets will make it easier to buy one if someone is ill or on holiday when it is their turn to purchase the week’s tickets.
Should You Set Up a Lotto Syndicate at Work?
You need to be aware of the mood in your working environment if you choose to set up a lotto syndicate at work as people may turn sour on you if you do win.
It is also important to remember that joining a syndicate won’t guarantee a win. This could cause players to drift away if not even a small win turns up.
Still, they can be a great way for you to organise something with co-workers that does not involve work.
Speak to your colleagues about setting up your lotto syndicate at work now, and think about the first game you would participate in.
Increase your odds of winning
Before you tick away with your favourite numbers, you might want to have a look at our article on how to increase your odds of winning the lottery. We have a couple of very basic tips for you – they might just be the ones you need.
Can You Set Up a Lotto Syndicate at Yourlottoservice?
Yourlottoservice does offer the participation of playing in Lottery Syndicates. The lotteries played are the National Lottery and EuroMillions. However, the syndicates are managed and run by Yourlottoservice, and you can only buy into existing lotto syndicates.
So, setting up a lotto syndicate yourself and for your colleagues is something you would need to do yourself. If you are looking to join professionally run syndicates with different odds of winning, then Yourlottoservice might be the right choice for you.
Click here to get in touch and let’s discuss which setup might suit you best.