It’s no secret that the more lottery tickets you buy, the better your odds are to win. It’s for this reason that so many lottery enthusiasts prefer to buy lottery tickets in a group, pool or syndicate, thereby not only increasing their odds of winning, but also making it a lot cheaper. If this is something that you are currently doing, or thinking of doing, then find out how to organise and manage a lottery group play in this article.
Most lottery syndicates have a manager who oversees the group’s activities. The manager is tasked to collect money, buy lottery tickets, oversees the contract/participation information, and may disburse any future lottery winnings.
Running a lottery group requires consistent tracking to ensure those that are in the lotto group all receive fair opportunities and pay-outs from the pool.
To do so, it’s important to keep a detailed record such as a spreadsheet to keep track of activities. This spreadsheet should also be a transparent document and shared with those members of the group on either a monthly or quarterly basis. The group can vote and decide how often they would like a copy of the spreadsheet.
Managing Your Lottery Group Play
With literally millions at stake and emotions running wild in the e event of a multi-million Dollar lotto win, it’s important to take your time when establishing your lottery group in order to set it up correctly. As a lottery group play manager, you also need to make sure that you know the rules of the lottery that your group wants to play.
Before you rush out to sign everyone up, you also need to sort out a few basics details.
Your first decisions are:-
Which lottery game are you going to play?
How often will you buy lottery tickets (every draw, once a week)?
How many group members do you want? (also decide as a group, how many is 'full', and what's your minimum amount of group members needed to start playing)
Will everyone pay for the same share, or will you have one or two members paying less, therefore taking less of a share in the event of a win. (This can get tricky, and is definitely not advisable.)
If you divide the jackpot by the number of players, is each players share big enough?
Specify how you will add new members to the group and remove people who opt out.
Vote on a lottery group manager, and decide if the manager or someone else in the group will collect money and buy lottery tickets.
All participants must sign the group rules.
When you have winning tickets, distribute copies to all members. This will keep members from trying to claim they purchased winning tickets outside the pool.
Clearly identify the terms of your agreement between each member. For example, all parties pay an equal cost to enter the competition, and all winnings are split evenly if all tickets are paid for in advance.
Log members and winnings
When it comes to your lottery group winning smaller amounts that are just too fiddly to bother splitting and distributing until they accumulate to bigger amounts, you will need to keep a record of these. You will need to know how much each member is due eventually, or if you decided as a group to utilise the small winnings to buy more lottery tickets.
You could use members joining or leaving as a trigger to calculate everyone’s balance, so the 'winnings pot' goes back to zero.
A spreadsheet to keep a record is fine for a fairly small lottery syndicate, but gets painful quickly if you keep adding more members to the group.
If you're pretty handy with Excel, you can develop your spreadsheet and set up formulas to calculate winning shares, leaver’s shares, remainders etc.
Alternatively, if you don't find this fun or the number of members is making it painful, you can use lottery software available for syndicate management.
Most group members will not be bothered about having the small wins returned to them as they happen. They are just too small to bother with, but it is important to tell them about these wins every time – a quick email is great - it also helps to keep them interested.
You can accumulate small wins for a larger payback to the members when you hit a certain amount, or if you would like to inject a little more fun, you could arrange an evening out on the winnings.
Another option is to buy a couple of scratch cards for every member (sharing the prizes of course!). Or build up a bank to play extra tickets when the jackpot has rolled over.
Whatever you think will make your particular group happy.
Remember, if you played in a group and missed out on writing a contract, a court can look at written evidence, verbal evidence, and the context of the relationship between the parties to make a final decision, in case all goes belly up. This is however taking a chance, and as you are reading this article, you now know better, so take the time and energy and get everything in writing.
Like we said running a lottery group is time consuming, and you will need a system to keep track of participants. Playing the lottery offline is also extremely time-consuming, as you have to check winning lottery numbers against a pile of tickets. Playing the lottery online however, takes checking the winning numbers out of the equation, as your automated results mailer you receive immediately after the draw, will not only have the latest winning lottery numbers for the draw you participated in, but it will also reflect all your lottery numbers played and highlight any matches you may have had. The beauty of playing the lottery online is also the fact that not only will you have all the work done for you, but you will also see exactly what your matches have won – all in one super informative results mailer. This results mailer can also be forwarded to your group.
For those playing the lottery offline, lottery administrator spreadsheets can help, but you’ll still have to enter that information every week. You will need to enter the numbers from each ticket into your spreadsheet. Double check to make sure you haven’t typed any numbers in wrong, or you might throw out a winning ticket You will then have to enter in the winning lottery numbers and let the spreadsheet find any matches.
Remember, most of the time issues don't come up, but when things do go wrong it’s about protecting yourself to make sure the terms of the agreement are clear and have been agreed — that’s the best protection you can have.
If you decide to form your pool online, there’s considerably less paperwork. You can still invite the same people and still enjoy participating together, but the online service takes on the responsibilities of the administrator.
Look out for your invitation into a lottery group play right here at PlayUKLottery.com where you stand a much bigger chance of winning the jackpot.
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