Syndicates consist of a group of people who join together to buy a number of tickets for a lottery in order to have a better chance of winning a large prize. They could be friends, colleagues, neighbours, family members or any other collection of people who play the lottery together. Usually prizes are spread evenly between all participants, who must all be old enough to purchase tickets (16 and over in the UK).
It is advisable to have a syndicate agreement in place before you start playing in order to avoid being taxed on any prizes won in addition to preventing arguments and misunderstandings among syndicate members. It’s worth discussing and putting in writing the split of winnings, whether you’d opt for publicity or not in the event of a big win and any other rules necessary for the smooth running of the syndicate.
Under the National Lottery Game Rules, any prize can only be paid to one person, so you will need to appoint a manager or treasurer to take on that responsibility. They will then be in charge of:
- Keeping the syndicate agreement up to date
- Ensuring that each player has paid for tickets
- Purchasing the tickets and storing them safely (buying lottery tickets online keeps them secure)
- Checking the tickets for any prize (buying tickets online means that they are checked automatically)
- Collecting the winnings and distributing them between the participants
In a syndicate, you could feasibly pay the same amount for each draw as you would as an individual player while dramatically increasing your chances of winning, with the compromise being that any prize won has to be shared.
For example, on EuroMillions, if ten players each paid £2 per draw, the syndicate would have ten tickets. The individual odds of winning the jackpot are 1 in 116,531,800, but for the syndicate of ten, the odds significantly reduce to 1 in 11,653,180.