Ttere must be an ideal range in a Lottery Syndicate...................
Welsh Paramedics had 69 so they each got £14.5K when 1 x line won £1million
In our family syndicate we have 5 ............our biggest win (so far) has only been £112.
www.bbc.co.uk/news/uk-wales-19096692
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I was one of 13 when, in the early days of the lottery, we scooped a little over £4k for 5 balls - £300 and a bit each IIRC, which was a high amount for 5 numbers even then.
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I've done the same two lines every Saturday and subsequently, when they introduced the option, every Wednesday since the lottery started. I've had quite a few tenners and an odd £80 or so but that's it. Still well down on the deal. Not sure why I continue to do it. Habit I suppose. I've heard it called a "tax on the hopeless". Probably right enough.
However, I've calculated that if I continue to do the same numbers twice a week for the next 200.000 years that I should, by the law of averages, win eventually.
:-)
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7 million numbers would give you a 50/50 chance of winning the jackpot.
That's why I don't do the lottery
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It's impossible to win the jackpot, in practical terms. But few will agree, such is the unsuitability of the human mind for dealing with the extremes of probability.
I was in an office lottery syndicate for a few months just after it started. Never mind the hopeless odds, just give fate a chance. There was a hiatus after the organiser left (I have no reason to believe that the stake money left with him, but it wouldn't have mattered if it had) and before a new one was found. I didn't rejoin.
The problem was that I'd actually started to feel that we might win, and even thought about what I might do with something approaching a million quid. I'd also started feeling disappointed when we failed every week.
Human intuition is useless at sensing probability. The same individual who hopes to win the lottery at 14 million to 1 every week will chance a risky overtake with a thousand times the probability of a nasty accident occurring.
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Come now Manatee ! I know I'll win one day. I just have to look after my health in the meanwhile as it may be necessary to live a very very long time ! Mathematically, it's hard to see it as anything other than a certainty.
:-)
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We have a very loose syndicate between 6 of us at work, but we are all friends and have a social life outside of work together.
We only bother when its rolled over and the jackpot is big.
Rest of the time we chuck in 20 quid a month and buy premium bonds. Started the beginning of the year and will have 1K by September. No wins, but we can at least get our capital back at some point.
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Apologies Humph, and you're right of course.
You're just as certain to win eventually as all those monkeys with typewriters are to produce the complete works of Shakespeare ;-)
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I will never win the lottery, but someone wins every week.
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I do the Euromillions, now and again. I do think they could cap the jackpot at, say, £20million and let the XS feed down to the lower levels. The difference between 1st prize (match 7 numbers) and second prize (match 6 numbers) on Friday, was £137 million. To be honest nobody needs more than a £10 million prize to change their lives and those of others. But good luck to the big winners in dealing with that much money!
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Ideal number is one - providing you also get the right six numbers......:-)
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The odds for a euromillions win are about 40 million to 1 so the higher difference between all balls and all but one ball is reflected in the prize division.
Probability says you won't win but some people do. Some people buy one ticket and win the jackpost straight away. Others play for years and win bog all. It's just luck. It's against you generally. If you don't buy a ticket you have 0 chance of winning anything. If you do you have a slightly greater than 0 chance :-)
The whole point of huge jackpots is that people want them. The normal lottery is dying off as frequently it is only a couple of million. You can do nothing with that these days. A decent mansion is usually £2 million so there's nothing left to live on! Why shoudn't someone have the chance to have more money than sense? If it's too much they can give it away.
What bemuses me is the number of unclaimed prizes. Someone has won 65 million on euromillions and has not claimed it.
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> What bemuses me is the number of unclaimed prizes. Someone has won 65 million on euromillions and has not claimed it.
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It could be you. £1M, £6M and £12M still not claimed
www.national-lottery.co.uk/player/p/results/unclaimedPrizes.do
How many syndicates are set up well?
www.thisismoney.co.uk/money/news/article-1546924/Tax-bill-could-spoil-a-lottery-win.html
I think I might set up a syndicate for the family. The least the tax man gets the bigger my smile.
As the numbers I choose are all bigger than 31, IF I win, I should have less winners to share with :-)
I did win £17 this week so I can afford to reinvest :-)
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>> Human intuition is useless at sensing probability.
+1
The lottery model thrives because 99% of population hasn't got any clue about probability. Media is also responsible to fuel it by making people believe they can win.
More people in syndicate will increase your chance of winning smaller amounts but then it has to be distributed among all members - so no benefit in practical terms.
However, the chance of winning large amounts (nearing jackpot) is so low that if you divide it by 10 or 20 (= appx no of people in a syndicate) the probability is still too low to make syndicate worthwhile.
My advise, don't bother playing lottery.
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PS: I once did an analysis to see how syndicate increases the chance. The graph is here.
imageshack.us/photo/my-images/560/lotterywin.png/
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I had never played the lottery until earlier this year, as a tax on the stupid.
However. When the office syndicate, which has about 10 people in it when it happens (which is not every week), is playing for a jackpot of more than £3m each then I join in.
A couple of million would obviously be a lot of money, but in many ways it wouldn't change my life much; my job would stay the same. I'd rather have £2 per week.
But if all my colleagues went off with more than £5m then it would be galling. I'd rather pay the £2 tax than have that risk.
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...A couple of million would obviously be a lot of money, but in many ways it wouldn't change my life much; my job would stay the same...
My job would also stay the same, but with £2m in the bank, I wouldn't stay doing it.
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I won just over nineteen quid on Euromillions t'other week. Put it all back, tho' !
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If I were to win, 1 would be the ideal number, otherwise it doesn't matter, as I'm never that lucky, even if we're out on a Saturday night on a mega roll over and we do 10 lines each, we never got more than a third back, just born unlucky I suppose
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Actually a third back would tend to suggest quite the opposite; that return would make you one of the lucky ones.
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>> If I were to win, 1 would be the ideal number, otherwise it doesn't matter.
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I am not sure if one is the ideal number in my case.
As the years are rolling by, I was thinking about the remote chance of a big win. Should I be in a syndicate with my children?
SWMBO and I have no plans to pop off quite soon but I would really not want a large chunk of winnings going to the tax man.
I can trust my two but is a syndicate a good approach?
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If you *know* who you will share with, then yes establish a syndicate now.
For example if;
you buy one ticket per week @ £1.00
You would your two children to share 50%
You would like your wife to have 25%
And, of course, me to have 25%
Then establish documentary evidence now that we contribute 25p each to that £1 ticket every week.
You will have to deal with the trust issue, and I can't answer that for you.
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Have a written agreement as to contributions and divvies (if any) signed by all members
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It might be an old one, but worth another mention.... I walked into the house last night and said to the missus, " what would you do if I said I'd won the lottery," she replied I'd take half and leave you" , to which I replied "ok, here's a £5 , now cLear off"
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>>If I were to win, 1 would be the ideal number>>
Exactly the point I made earlier in the thread...:-)
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Or two...
www.bbc.co.uk/news/uk-england-19254228
"The couple, who have been married for eight years, spent the night on the internet deciding how to spend the huge jackpot, the result of 14 rollovers."
£148 million? How would the internet help?
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>> £148 million? How would the internet help?
I've heard a report saying they want a new car, so perhaps just doing a bit of research for that, and other stuff?
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They could just buy one of each and throw the ones they don't like away!! LOL
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The ideal number is the winning number(s)
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We should email this thread to the couple.
All the posts about the pointlessness of playing should give them a laugh.
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Plus they could get the benefit of our vast car buying knowledge. Have they considered a Mondeo do you think?
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...Have they considered a Mondeo do you think?...
Only for the gardener.
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We should send them a begging letter signed by us all. With my address as a responding address...
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The ideal number is if you are on your own. Considering the odds however, it is better to be in a group to spread the cost.
Won't be thinking too much on limiting your numbers as the odds are really bad anyway.
If you win it, just enjoy it no matter how many numbers you got.
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It's a good idea to play in syndicates, we have 53 person and we usually win smth. We play only Australian lotteries online. I think this variant is better
Read important information here australian-lotto-results.com/powerball-australia-info
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Nice to hear from you Manny.
Welcome to the forum.
No other reason for posting?
I mean, do you think I should change my car? What about my choice of phone, or internet provider? Are you worried about Greece?
Hmm?
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And whats your thoughts on Cycling in London, especially today??
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Not particularly welcoming is it guys?? I accept the post has some of the hallmarks of potential spam - resurrection of an old thread to apparently promote something, and including a link.
But I suspect Manny is not the owner of the Australian lottery in the link. I've often found a new forum and browsed and then realised that the something which caught my attention enough to post was not a recent article.
The Report Message is there for just this kind of use. I don't see email reports from anyone on this message and I am going to leave it to stand until Manny is proven to be a spammer.
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>> Not particularly welcoming is it guys?? I accept the post has some of the hallmarks
>> of potential spam -
Its certainly quacking like a duck.
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Maybe...
I went to see that recorded yesterday, at Pinetree. Lee Mack, Jimmy Carr, Len Goodman and Gaby Roslhyn. Very funny it was too. (Duck Quacks Don't Echo - www.sky.com/tv/show/duck-quacks-dont-echo )
Last edited by: smokie on Thu 9 Jul 15 at 17:05
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With odds at 14 million to one for the jackpot a Syndicate consisting of 14 million people putting in a pound each should give you a decent chance of winning 40p a week
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I've only once been part of a lottery syndicate.
The staff at work (including me) were sort of given notice and it was done so badly, that we all clubbed and bought a few lottery tickets as a group. Had one of them won the jackpot, we'd have had enough money to say, none of us will be here on Tuesday, and walk out en mass on Monday.
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Ideal number for lottery syndicate? - smokie
