Powerball – Why Everyone Should Play Syndicates
What is a Syndicate?
A syndicate is a way of playing the lottery that relies on multiple people pooling their resources together to buy multiple tickets. These individual tickets are grouped together. This collection of individual tickets grouped together becomes the total pool of tickets for the syndicate of players want to buy a share in this pool. Any given group of tickets will be split into shares. An individual player can purchase shares in the pooled tickets as a whole. If any of the pooled tickets wins, everyone wins their share of the prize fund.
For example; a simple syndicate for 100 individual tickets can be split into 100 shares. Any individual player can come along and purchase shares. To keep this example simple, the Jackpot for this example is $100,000,000. If you buy one share out of the 100 possible shares, no matter which ticket it is that hits the jackpot you will be entitled to 1/100th of the total prize amount. In this example, you would win 1/100th of $100,000,000 meaning that you would walk away with $1,000,000. If someone decided to buy 4 shares in the same syndicate, they would be entitled to $4,000,000.
What are the advantages of playing in a Powerball Syndicate?
The advantages of playing a syndicate is that you get to split the risk of playing the lottery without having to buy hundreds, or sometimes, thousands of tickets. Usually, one share in a syndicate will not be much more than buying an individual ticket. So, for the same price as one ticket, if you play through a syndicate, you can have multiple chances of hitting the jackpot. When a jackpot (or any other prize division) is matched by one of the tickets in the syndicate, the prize fund is split according to how many shares each player has in the given syndicate. For lottery draws with huge jackpots this can be highly attractive. If the jackpot is $100,000,000 and you have a 1% share of the syndicate, you will win $1,000,000 for your syndicate ticket.
What are the disadvantages of playing in a Syndicate?
The downsides of playing a syndicate lottery are that when you win, you don’t win it all. This downside is most effective when the jackpot prize is small as the incentive to win a small percentage of a small jackpot is not very appealing to some lottery players. Winning 1% of $100 million is great, winning 1% of $1 million might not be what you are expecting when you win the jackpot in a lottery!
The other downside of playing syndicates is that you don’t get the chance to pick your numbers yourself. The vast majority of group game or syndicate tickets are pre-purchased and therefore preselected. If you are someone who wants to always pick your numbers, a syndicate will not offer this opportunity for you and you will have to play a single select game in order to pick the exact numbers that you want to play.
Not all Syndicates are built the same
Before you decide whether you want to play a syndicate or single select game, be sure to look into the syndicate options for each game. Not all syndicates are the same and vary from game to game, draw to draw. Some syndicates have as many as 1,000 lines in their group and some syndicates can have as little as 30. It is always worthwhile to check the details of any given syndicate before you decide to play.