Are lottery syndicates more profitable?

November 27, 2009 by  
Filed under Lottery News

Three weeks ago the lives of seven IT workers from Liverpool changed forever. These workers were the lucky seven lottery syndicate members who shared half of the massive £91 million EuroMillions jackpot and promptly quit their jobs but the other half of the EuroMillions jackpot went to just one lucky ticket holder. So are lottery syndicates more profitable than going it alone in the hope of winning the entire jackpot yourself?

Out of the seven Liverpool lottery winners how many of them would prefer to be in Les Scadding’s shoes? Les won the other half of the £91 million all to himself, oh and another £5.80 for winning on his second EuroMillions ticket that very same night. If Les had to share his millions with six other people he would have only received £6.5m from one of his winning EuroMillions tickets and 82p for his second.

The old adage “You have to be in it to win it is also true when it comes to lottery syndicates. Think, for a moment about the Liverpool IT worker who quit the lottery syndicate just a couple of weeks before there life-changing lottery windfall. The former lottery syndicate member dropped out as he couldn’t afford the £1.50 per week to play.

The National Lottery jackpot has made 2,300 lottery millionaires in its 15 year history but how many National Lottery jackpots have been won by lottery syndicates? The answer is approximately 1 in 4. A quarter of all UK National Lottery jackpots awarded in the last 15 years have been received by lottery syndicate members but the amount of money won by these syndicate members is obviously a lot less.

So in short, lottery syndicates give you a much better chance of winning the lottery but for the shorter odds winners will have to share their lottery cash. Don’t forget you can buy tickets for tonight’s EuroMillions draw here at Online Lotto with UK EuroMillions players having the added benefit of entry into the Millionaire Raffle which promises to make a UK lottery millionaire every single week.