Trusting a lottery syndicate involves understanding how it operates, the terms and conditions, and the level of transparency it provides. WinBySyndicate is a lottery syndicate started by a group of individuals where players are assigned to a group consisting of up to 100 members each. Players pool their money, which may be agreed to be managed in various pots, which may be invested in FCA regulated products and use the return on investment to buy lottery tickets or use the subscriptions to buy lottery tickets directly, based on agreed terms and conditions, increasing their chances of winning. Here are some considerations to help you decide why you should trust WinBySyndicate as your Syndicate Platform.
1. Transparency:○ WinBySyndicate ensures that the syndicate is transparent about its operations. This includes providing clear information on how funds are collected, how tickets are purchased, and how winnings are distributed.
○ We are committed to provide regular updates, and provide confirmation of purchased tickets before the draw either by email and /or scanned copies of tickets and results, to members.
2. Written Agreement:○ WinBySyndicate as a trustworthy syndicate will always have a written agreement or contract in an electronic format which outlines the rules, responsibilities, and distribution of winnings. We encourage all players to read and understand this agreement before participating.
3. Legal Compliance:○ WinBySyndicate operates within the legal framework of the United Kingdom’s jurisdiction. We follow that National Lottery acknowledges that there is no limit of members in a Lottery Syndicate and the Gambling Commission of the UK recognises that a Lottery Syndicate who acts a Ticket Purchasing Syndicate do not require a license to operate as a company. However, we will be applying for a license too for a better compliance with these various regulations from time to time for a better credibility.
4. Trustworthy Organizer:○ It is always better to understand who is organizing and managing the syndicate. Being a trustworthy organizers we are open about our identity and post our launch we will aspire to have a credible history of managing WinBySyndicate responsibly.
5. Membership Screening:○ WinBySyndicate have a screening process for new members. This helps us to ensure that participants are committed, reliable, and trustworthy.
6. Communication Channels:○ In order to maintain a practical and realistic level of credible communication we have established processes to actively interact and communicate with all Group Leaders and in turn will expect them to be in touch with their specific group members with all such communication and messages. WinBySyndicate will ensure and improve upon clear communication channels with all members. Regular updates and responsiveness to queries will contribute to transparency and trust that we intend to have all the time.
7. Reviews and Recommendations:○ We rely heavily upon reviews or recommendations from current or past members of the syndicate. As such provide Online forums, social media, or review platforms may provide insights into the syndicate's reputation and build upon effectiveness of all our platforms and games that we may bring in future.
8. Financial Transparency:○ Being a trustworthy syndicate, WinBySyndicate will always ensure that we are transparent about how funds are handled. This includes details about bank accounts, withdrawals, and any fees or expenses associated with managing the syndicate.
9. Avoid Red Flags:○ Being cautious of our reputation, WinBySyndicate does not require large upfront payments, we do not promise guaranteed wins, or we believe in clear documentation. All our approach is based on Maths and rely on Wisdom of Crowds and on concept of Multi Arm Bandit to have a progressively improved chance of converging to be closer to the Jackpot win and other prizes. In our methodology it is crowd which will a very high probability and odds of winning many prizes including the Jackpot. We believe in removing all Red Flags for a better credibility.
10. Personal Comfort:○ WinBySyndicate works positively to enable all players to have personal comfort in order for players to trust their instincts. We do our best to answer all your doubts so that you have personal comfort to participate in WinBySyndicate for a long time to come.
In all cases you must remember that participating in a lottery syndicate involves risk, and there are no guarantees of winning. WinBySyndicate only ensures and try to establish that the potential benefits outweigh against all the risks and allows all to make an informed decision based on the trustworthiness of WinBySyndicate
If you are considering playing the lottery in a syndicate, you may have a few queries whether you are looking to team up with people you know or join an online group. Check out these frequently asked questions to find out the answers to what you need to know about lottery syndicates.
1. What is a lottery syndicate?A syndicate is a group of lottery players who join together to buy tickets. A number of entries are purchased by the syndicate and the costs are shared between the group members. The winnings are also split but group play boosts the chances of winning a prize and there are many ways to join a syndicate, whether by teaming up with others online or creating your own syndicate.
2. Do we need a syndicate agreement?Before setting up your own lottery group, it is a good idea to have a syndicate agreement. Even if you are playing with friends, family or work colleagues and would not expect any problems, a formal document helps to ensure that everything runs smoothly. Find out what points could be included in a syndicate agreement, and appoint someone trustworthy to manage the group.
Another reason to create a syndicate agreement is prevent possible tax implications that could arise if the syndicate wins a large prize. Current National Lottery rules state that a prize can only be paid out to one person, the syndicate manager, and if there is no formal agreement in place, the other members of the syndicate could be liable for tax on their share of the money.
3. What responsibilities does a syndicate manager have?As well as keeping the syndicate agreement up to date, the manager has a responsibility to ensure that each player has paid for tickets. Having purchased the entries, the manager will be in charge of checking for any prize, which can be done automatically if playing online. Finally, the syndicate manager will collect the winnings and pay them out between group members. You can avoid all of this tedious work by joining an online syndicate, where the process of purchasing tickets and distributing shares of any prizes is managed automatically.
4. Is there a maximum number of people or tickets allowed in a syndicate?If you are looking to create your own syndicate then you can include as many players as you want and buy as many tickets as you want. The greater the number of tickets, the better your chances of winning a prize, although if you have a particularly large amount of people the winnings will be smaller. But in case of WinbySyndicate we have large group of players in a Syndicated Group of 100 lines to be bought and assigned to 100 share holders in ratios as explained in the play rules. Thus allowing the Syndicate Manager /Operator to manage the online platform using technology and operations tomatch the expected outcome.
5. How do we buy tickets?Tickets can be bought from our Platform www.winbysyndicate.com and follow the instruction. We would be buying tickets from an authorised retailers in the UK or through our syndicate manager account with National Lottery based on the lines picked with a Syndicated Group of 100 Lines each and allocated on our platform. Reconciliation will be in accordance to good practice as accepted in this kind of operations. All valid tickets will be bought physically or on the National Lottery application and accounted for on our online platform.
6. How are prizes paid to syndicates?Any money won by a syndicate is paid to the group's manager, as National Lottery rules state that only one player can receive a prize from a winning ticket. The process for claiming prizes is the same as if you were playing on your own, and it is then up to the syndicate manager to distribute the winnings. When you play online on our platform the prize money will be distributed in the manner explained, the prizes are automatically paid out to the syndicate members, eliminating the hassle of claiming any prizes in person and then doing the maths to figure out what each syndicate member is owed. The Syndicate Operator will have agreement(s) with each player and the Group Leaders, who in turn may have agreements with the players in their group. WinBySyndicate will necessarily have agreements with all Group Leaders. All Players will be assigned to a Group Consisting of a maximum of 100 players each. Where not feasible the Syndicate will have players assigned to a Group of a maximum of 100 Players under its own control and management.
7. Do we need to declare our syndicate?The syndicate manager will have to register as a player if they are buying tickets online and /or voluntarily register with National Lottery about the existence of the Syndicate with a large membership, but for everyone else in the group the most important thing is to sign a syndicate agreement which sets out a formal structure for how you will play, as well as ensuring that winnings are tax-free. You can then decide as a group whether you would opt for publicity in the event of a big win. We at WinBySyndicate will be operating as a business and as a registered company in the United Kingdom with the Companies House and operate within the Article Of Association, the company being Insight GHRF Consultancy Ltd.
We will be declaring the Syndicate Operation with the National Lottery and relevant authorities and will be acting as Ticket Purchasing Service Provider – with a flavour of selecting numbers based on pattern and random selection of numbers therein. As there are 45057474 combinations possible and every line has an equal opportunities to be drawn, our desired number of tickets to be purchased or offered as specific numbers to the group will not have any mathematical advantage, but will increase the chance for the set of players to win prizes in different categories.
In the process we believe that the set of players in the group will be contributing towards social cause and enjoy playing the Lotto for a chance and enjoyment of participating.
We believe and carry the spirit that this is like a Treasure Hunt, which has an element of fun and should we be lucky the winning players also shares a part of the winning with the loosing players and operate as a community with a common interest with likeminded players.
8. How do I join WinBySyndicate syndicate?Joining WinBySyndicate as online syndicate player is convenient and hassle free, all you need to do is decide whether you want to play Lotto as a syndicate member and be willing to be part of it as a regular subscriber or occasional player based on your account and funds, as per the policy and then consider how many shares you want to buy for a particular draw.
9. How can I be sure the tickets have been purchased?When you play online on WinBySyndicate, you are buying shares in tickets which are purchased on behalf of your group / or as a player within a Syndicated Group of 100 Lines. The tickets are scanned / or confirmed as purchased and recorded. We may also upload the purchased to your account to show that they have been bought and prizes are then paid out automatically. This is a far easier process than playing in an offline syndicate, where tickets have to be purchased from retailers by the syndicate manager, who has to collect payments from all members, save copies of the physical tickets and distribute any winnings. Playing online ensures that the process of participating in a syndicate is completely hassle free!
10. How are online syndicate prizes divided?Prizes are divided between the members of the group, and in an online syndicate your payout is proportional to how many shares you bought. The more shares you buy, the bigger your share of any reward the syndicate might win. In our case however, as each Syndicate Group of 100 Lines are taking their chance to buy tickets as specific to their choice or acceptance of proposed numbers, we view that the whole set of other players are also playing and supporting a greater chance to win. Hence to make the participations and through the loosing players may not see a large amount under normal circumstances, we have decided to operate under declared policy that only 60% of the winnings will be retained by the winning groups and 30% will be shared by other players who will be a valid player but do not have winnings. The remaining 8 % will be for operational expense and 2 % will be retained by the promoters.
We expect that in case of reasonable win everybody gets some amount to offset the cost of participation and /or if lucky will see more money than the cost of playing as a syndicate manager.
This is the USP that we are bringing on the table where players may not feel that they are always loosing on their playing amount. This will ensure continuous playing within controlled amount every month and enjoying the game.
Well, that is a part of Healthy Play.
11. Are lottery syndicates legal?Yes! Syndicates are a great way to have fun whilst playing with others and boosting your chances of winning as you share out the costs of purchasing tickets. Playing in an online syndicate like WinBySyndicate and with our unique Prize Distribution Concept and manageable Monthly Subscription or amount spent on playing along with our Random Number generator around patterns and option to propose numbers and taking your numbers in a systematic manner within the group and ensuring that no two lines are same we are only increasing the chance to win and legally that does not add to any advantage for the syndicate players – except that the chance for the large group increases.
We will ensure at all times that we have electronic acceptance of the Terms and Conditions and have a syndicate agreement in place which you are happy with before signing up. We will also validate that players who meets all the conditions are managed in the system for a particular draw and will have the rights to share the win as per our policy.
If you join WinBySyndicate, the lottery messenger service effectively acts as the syndicate manager and will legally and securely ensure that you receive any winnings owed to you.
Operating as a company we will ensure that we are governed by the laws as applicable in the UK and IOM. We are committed for compliance and our members will have all rights to be entitled for a just response from us in this regard."