Lottery Syndicate

Rexxar

Rexxar

Rexxar

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Joined
13 May 2010
Posts
1,657
Does anyone here run , or is a part of a Lottery Syndicate?

We're looking to set one up at work but not sure how to go about it, national lottery site does help but interested to see how others do it, does everyone just pay for 1 lucky dip a week each?
 
????



How is this confusing? Everyone chips in what they want, and they get a proportinal part of the money if you win.
 
anticonscience said:
In these circumstances OP I would suggest you do not create a lottery syndicate.

Let one of the grown ups do it.
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If you have nothing helpful to say then why are you posting? Congratulations, have a keyboard warrior sticker to brighten your day.

Avenged7Fold said:
C'mon guys, i know i said i miss the 'how to life?' threads but there is really no need to keep opening these troll threads.
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Likewise, have a sticker.
 
Sorry, you need more advice other than what is already posted?

Please explain to me what you currently think you will need to do and what you are unclear on and i will sincerely answer you without ridicule. Or refuse to because even without my ridicule, the very question will seem foolish.

Also, what happened to googlefu, are there no longer any practitioners?
 
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Lighten up man.

It's really not that hard to work out what you do though.

5 people pay in £2 each. You buy £10 worth of lottery lines (so 5 goes) and if you win you divide the winnings by 5.

You then decide as a group if you win small will you just add that to a kitty that gets divided out at the end of the year or whatever or all amounts are shared as they are won.
 
used to just do an adhoc occasional one for rollovers

everyone contributes £2 and either picks some numbers or gets a lucky dip (you could allow people to buy in more than £2 too but given that you're already struggling then perhaps best not to)

if we won a small amount < total cost of tickets then we'd buy lucky dips for the next week with the proceeds

one person buys online or goes to newsagents and then screen-prints/scans the tickets and e-mails to everyone who paid prior to the draw
 
If your colleagues have chosen you to sort this out because you are the most qualified, i suggest just taking the money. The office plant and the moldy orange on the windowsill wont know any better, you may have to cut the guy who speaks know English a piece of the pie if he starts to suspect ;)
 
Diddums said:
????



How is this confusing? Everyone chips in what they want, and they get a proportinal part of the money if you win.
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Not as simple as that, it never is. You need to draw up some rules.

What happens if somebody doesnt pay their subs that week? Is it okay to wait until the week after or if you win that week, do they not get their share?

One last tip for you, pick all your numbers above 31. it maximises the payout for the lessor prizes.

Reason being so may people use their birthdays to pick lottery numbers so 1 to 12 are the most backed numbers then followed by 13 to 31. We did this and when we get 5 numbers the prize used to around £5k whereas weeks when numbers are low in the drw its lucky if its a £1000.

Dont select patterns. The only stat camelot ever released was that is 1,2,3,4,5,6 ever came up, there would be around 10,000 winners sharing the jackpot taking home around £1,000 each.
 
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The amount of people in the syndicate and how close you are will dictate how formal it needs to be.

At my old company we had a very informal one, 11 people who were all included, if they weren't in somebody would chip in for them, all winnings were reinvested (we never hit anything worth keeping), everybody was given a photocopy of the tickets.

Done, simples.

If its a bigger group or you're not particularly close then you'll probably need a rough set of rules.
 
Rids said:
The amount of people in the syndicate and how close you are will dictate how formal it needs to be.

At my old company we had a very informal one, 11 people who were all included, if they weren't in somebody would chip in for them, all winnings were reinvested (we never hit anything worth keeping), everybody was given a photocopy of the tickets.

Done, simples.

If its a bigger group or you're not particularly close then you'll probably need a rough set of rules.
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Yeah we had 50 in our syndicate and we put 5 weeks on at a time otherwise it was a chore to keep going every week.

Small wins were kept in a pot until there was enough to cover 5 weeks.

Trying to track down 50 people every 5 weeks in a busy office to collect their fiver was why there had to be rules on what happens if people didnt pay on time etc.

if its just 5 people, collect the money and stick it on every week.
 
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