It is widely appreciated that a lottery syndicate is without doubt the most sensible way to participate in any lotto if you are looking for a way to increase your odds of winning some serious lottery cash. In Fact, more than a quarter of all lottery jackpot wins are picked up by lotto syndicates. These lotto syndicates are usually formed by groups of workmates or friends who have the solitary ambition of improving their chances of winning the lottery. Playing together in this way gives each participant of the syndicate more potential winning entries but at the same time ensuring that each individual’s entry fee is kept as low as possible. Being a syndicate member can come with a considerable odds improvement markedly if the syndicate has a larger quantity of people partaking. Conversely, being a player in a lotto syndicate also has its negative points. The first and probably the most evident negative side of a syndicate is the fact that all winnings are split between all members of the syndicate equally. For that reason, the greater number of syndicate members there are, the less cash each of these members will collect. Because of this, a considerable lotto syndicate triumph may only create sufficient money for each member to pay for a vacation or a new computer; but certainly not enough to give up your job and purchase a private jet! If each syndicate member is aware of this prospect then everybody should be happy. The second obstacle with lottery syndicates directly relates to the point made above. Stories can at times be seen in the media about a selfish syndicate member(s) who is reluctant to share out the prize money to colleagues and attempt to keep it all for them self. This can definitely be a considerable issue if the syndicate has been put together without due care and attention. If this is the situation, each of the aggrieved members has then got to prove in legal terms that they have been conned. There have also been situations where a lottery syndicate player has lost their stake of a syndicate payout owing to late or non payment of their entry payment. Such cases often lead to legal action being sought. The third setback that may crop up if no formal syndicate agreement has been formulated is that of inheritance tax issues. If the person in charge of the syndicate collects the prize money and then “gifts” each member their equal share, then this tax could become an issue for all the syndicate members. There are ways in which such problems can be scaled down therefore simplifying the whole process. If the syndicate is put together by utilizing a syndicate agreement that is legally binding then any of the scenarios highlighted here will no longer be an issue. These syndicate contracts can be downloaded from your lotto provider’s internet site and in many cases can be collected from your lottery retailer. There isn’t much doubt that the benefits of joining a lotto syndicate are far greater than any negative points involved. If the syndicate is put together in a legal manner as suggested, the only things you truly have to worry about are paying your money each week and deciding what you will do with the cash when your lotto syndicate wins the top prize.