Increase your chances of winning the National Lottery
Last Updated: Thursday 7th July 2011, 16:03
If you play the National Lottery you will understand that your chance of winning the jackpot are slim, but the huge sums of money to be won make it a chance worth taking. But if you want to increase your chances of winning the National Lottery your best bet is to join or start a lottery syndicate.
Playing the National Lottery as part of a syndicate will dramatically increase your chances of winning the jackpot but will also mean you have to share your winnings. Providing that you don’t choose the same six numbers twice your chances of winning the jackpot will become greater by the number of extra lottery tickets that the syndicate buys. For example, if you were to buy a single ticket to the National Lottery yourself your chances of matching all six winning lottery numbers are approximately 1 in 14 million but if you were one of 10 members of a lottery syndicate who bought 1 ticket per player your chances of sharing the jackpot would be 1 in 1.4 million.
There are one or two pointers worth noting regarding the setup of lottery syndicates. First off, you should have a lottery syndicate manager who administers the syndicate itself and takes the ticket money, buys tickets and collects any winnings. Another critical action to take is to draw up a written agreement to ensure that everybody has a fair claim of any lottery prizes. Another reason for creating a written lottery syndicate agreement is to avoid inheritance tax. If one player was to claim a huge National Lottery jackpot then simply give the rest of the syndicate a handout, each handout would be liable to pay inheritance tax which currently stands at 40% of any windfall over £325,000.
So all-in-all National Lottery syndicates are a great way to increase your chances of winning big, providing they are operated properly.