What is an Online Syndicate?
Online syndicates are organised by websites who buy numerous lines for lotteries and divide them into shares. Players choose the number of shares they would like to own in the syndicate and receive an equivalent portion of the group’s winnings in return.
Joining an Online Syndicate
Simply pick the online lottery syndicate you would like to play and then choose the number of shares you wish to own. You will be able to see the numbers being played on your behalf in the draw and you will be informed by email if you are due a prize payment. Winnings appear in your player account, from where you can easily withdraw them to your bank account.
In an online syndicate, the website selling the shares acts as the syndicate manager, with the terms and conditions acting as the syndicate agreement.
Advantages of an Online Syndicate
Whereas many workplace syndicates run for fixed terms over a course of months to avoid the administrative hassle of changing the agreement every week, you can pick and choose when you play online syndicates and which lotteries you take part in. You can own as few or as many shares as you wish (as long as there is availability) and you do not have to worry about falling out with fellow members.
Only players who have bought their shares for that draw are part of the syndicate, so you don’t have to make a decision on whether to leave out a workmate who is always behind with his payments if you win. In addition, you do not have to collect ticket money, spend time purchasing multiple entries at the newsagent’s shop, working out the prizes and distributing the proceeds – all of that is sorted out by the website.
If you have a small family or work in a business with only a few employees, your lottery group may not be able to afford to buy as many tickets as an online syndicate does, meaning you would have less chance of winning than by playing through the online syndicate.