Lottery games can be fun, but the chance is winning a prize is probably lower than you might hope. That is why there are syndicates such as the one that is created by Wshful. Now, you might wonder what a syndicate is and in what way you might benefit from this arrangement. Before you decide to buy a ticket and enter a prize draw syndicate style, we would like to present to you more information about this way of joining the lottery.
What is a Syndicate?
A syndicate is a group of people who buy lottery tickets together. The tickets bought by this group are shared tickets for the whole group. No one has his or her own ticket and all of the tickets are owned by every member of the group. It also means that, if the prize falls on one of the tickets, the prize is divided amongst all people in that syndicate. Thereby, you improve your chance of winning a prize or the jackpot. You can create your own syndicate by buying collective tickets with a couple of friends or relatives. But syndicates can also be found online. Then, you are in a syndicate with a group of strangers and the prize is divided by the company that organizes the syndicate.
The Benefits of a Syndicate
As mentioned above, the benefit of a syndicate is that you play with others. The larger the syndicate and the more collective tickets that are bought by the members of the syndicate, the bigger is the chance that the prize falls on one of the shared tickets. You all bought the tickets together, so you all get a share of the prize. This way of playing the lottery – putting all of your tickets together – increases the chance that all of you win a prize. The prize may be smaller, but you do get your share of the prize even if it wasn’t your ticket that gained the prize.
The Downsides of a Syndicate
Unfortunately, there are some downsides to winning a lottery. If the price falls on the lottery ticket you bought, you will have to divide the winnings with all the other players in the syndicate, even if the prize happens to be the jackpot. In that case, you might end up with less money that you would have had if you play solo. And sometimes a lottery offers not just money but also a prize that cannot be shared. Think of a car, appliance or gadget. Who will get the cool new headset or the home cinema set of you all paid for the tickets that won you the prize? That’s something to think about and to discuss before you create your own syndicate.
A lottery is always risky, but a syndicate may help you spread the risk. But do find a trustworthy syndicate instead of settling for the first lottery provider cause not all of them are trustworthy and reliable.