Lotteries offer the common person a glimmer of hope to become rich and solve all of their financial problems. People realise these days that the more lottery tickets you hold, the better your chances of winning are.
For the UK National Lottery, there are about 14,000,000 different combinations so if you have one line, or one ticket, you one 1 in 14,000,000 chances of winning. Now if you have, say, 1000 tickets you have 1 in 14,000 chances of winning so your odds increase considerably. But purchasing 1000 tickets is beyond most people’s means. Who could afford $1000 a week? So the answer is to join a syndicate and spread the cost and share the benefits of better odds.
If you were in a 100 person syndicate paying $10 a week into the pool and you won $10,000,000 you would each win around $100,000. Not bad for your $10 investment.
When you start a syndicate you should make sure you set things up properly because there will always be disputes and arguments especially concerning people who leave or join.
Here are some suggestions:
* Put everything in writing. Set up a contract detailing the rules of your syndicate and get everyone to sign it....
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