What you need to know about a Lotto syndicate [Read more]

If you want to increase your chances of winning, then joining a lotto syndicate, is the way to go!

But there are a few things you should know to avoid ending up in a legal dispute like one Sydney syndicate runner who’s still paying the price.  

First things first, what is a syndicate?

A syndicate is when a group of people pool their monies together to buy a Powerball or SuperEnaLotto ticket to increase their chances of hitting the jackpot. 

The odds of winning the Powerball jackpot with a single 10-line ticket are about 1 in 38 million. If you pool with four other people and have 50 lines, you dramatically increase your chances of winning.  

 A few ‘syndicate fails’ you want to avoid

1. Sydney - $40 million

In 2012, a group of factory workers in Sydney formed a syndicate in the hopes of winning the lottery.  

A legal battle ensues after Brendon King, a weekly contributor to the group, claims he is owed a $2.7 million share of a $40 million Powerball win.

The syndicate organiser, Robert Adams, claims he started a one-off syndicate involving 14 people who made larger contributions to boost the chance of winning the major jackpot and that King was not part of that group.

King's lawyer argues that King believed there was only one group involved in the syndicate and his weekly payment meant he was automatically included in entries.

The case continues.

1. New Jersey – $20 million

A New Jersey builder, who won $20m in 2009, tried to conceal his winnings from five colleagues in a syndicate.

Americo Lopes quit his job, claiming he needed foot surgery, and started claiming unemployment benefits.

A jury found Lopes guilty of defrauding his colleagues, ordering him to pay them US$4m each.

Although no one in the group had signed a legal contract to share any jackpot, the court found the group had a verbal contract.

Precautions when entering into a syndicate

 

  1. Record everything! 
  2. Create your rules and make sure you keep them up to date
  3. Print and distribute the ticket to members each week
  4. Tell the group if you are purchasing a private ticket and give each person a copy of that ticket to avoid confusion

 

With the following big jackpots up for grabs this week, why not start a syndicate with your group of friends! 

 

 

Don’t forget, once you’ve purchased your ticket from FatCatLottos.com it’s a good idea to print it out and distribute it to everyone in the group! 

Best of luck! 

The FatCatLottos.com Team



This post was written by
Richard Bailey - who has written 26 articles
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