It is a simple fact that a lotto syndicate is quite simply the wisest way to play in any lotto if you are searching for a way to enhance your odds of winning some serious lottery cash. , over a quarter of all lotto jackpot wins are picked up by lotto syndicates. These lottery syndicates are in general put together by groups of work colleagues or friends who have the one objective of enhancing their lottery winning chances. Working collectively in this manner provides each participant of the syndicate more chances of winning while at the same time ensuring each person's spend is kept to an affordable level.

Playing the lottery as a member of a syndicate can come with a substantial odds benefit more than ever if the syndicate has a greater amount of individuals participating. Conversely, being a member of a lottery syndicate does have its downside.

The first and possibly the most evident negative aspect of a syndicate is the fact that all prize money is shared amongst all members of the syndicate equally. For that reason, the greater number of syndicate members there are, the less cash each of these members will receive. As a result, a considerable lotto syndicate success may only create a sufficient amount of prize money for each member to pay for a vacation or a new dining room suite; but definitely not a sufficient amount to pack in the day job and purchase a private jet! If each syndicate member is aware of this eventuality then one and all should be content.

The second catch with lotto syndicates directly relates to the point made above. Stories can sometimes be found in the press regarding a syndicate member(s) who is loathed to pay out the prize money to colleagues and instead tries to keep it. This can certainly be a big dilemma if the syndicate has been put together without due care and attention. If this is the situation, every member of the syndicate has then got to prove in legal terms that they have actually been ripped off. There have also been instances where a lottery syndicate player has lost their stake of a syndicate payout due to tardy or non payment of their entry fee. Situations like these often lead to legal action.

The third setback that may arise if no proper syndicate agreement has been formulated is that of inheritance tax issues. If the leader of the syndicate collects the prize money and then "gifts" each member their equal share, then this tax could become a reality for every syndicate member.

Occurrences like these can be reduced therefore making everyone's lives a lot simpler. If the syndicate is put together using a legally binding lottery syndicate agreement then any of the scenarios highlighted here will become a thing of the past. These syndicate contracts can be downloaded from your lotto provider's internet site and in many cases can be picked up from your lotto retailer.

There is no real argument that the advantages of joining a lottery syndicate far outweigh the negative aspects involved. If the syndicate is put together in a legal manner as mentioned, the only things you really have to worry about are paying your money each week and thinking about what you will do with the funds when your lotto syndicate scoops the jackpot.