Lotteries in Medieval Times

When you think of the lottery, you probably think of scratch-off games and live TV lotto drawings. However, the truth is that lotteries have a long history. They are mentioned in the Old Testament and were also held by Roman Emperors. Roman games of chance were very similar to our idea of a lottery, with guests having to pay a fee for the opportunity to win a prize. In fact, under Emperor Nero, prizes included slaves and ships.

As the Roman Empire began to decline, later Emperors more or less forgot about lotteries, but they never went away completely. In the Middle Ages, one of the first examples of lottery-like games were the commercial sweepstakes held by Italian merchants in the 15th century. Government lotteries were also used as a kind of substitute for taxation in medieval Italy, with Milan holding a lottery to organize its war against Venice.

Perhaps the earliest medieval examples of what we think of like a lottery today can be found in the Low Countries, modern-day Belgium, and the Netherlands. In the 13th century Flanders, lotteries were used to allotting spaces in markets, and certain public officials were also selected by lottery. However, lotteries in their more modern sense first appeared in Utrecht and Ghent during the 1440s as a way to raise money for fortifications. An even more ambitious lottery was held in Brussels in 1515. Over time, private lotteries came to be outlawed, and the Dutch, or “class” lottery developed. A class lottery is a lottery in which tickets are drawn in certain series and increase in value as you move up each series.

The type of lottery we call lotto dates back to 16th century Italy when Genoa chose members of the city council from the roster of 90 senators through a lottery. The public began betting on the outcome of these elections, which took place twice a year. As the demand for these games increased, the names of the senators were replaced by the numbers 1-90. This game became known as Lotto or Semenaiu and is one of the direct predecessors to modern state lotteries.

Private lotteries were common in England in the 16th century. In fact, the Virginia Company’s founding of Jamestown, Virginia, was funded by such a private lottery in 1612. These lotteries were conducted by brokers, who were appointed by the government to sell tickets by the government, and subdivided the tickets into shares. These lottery agents were in effect the first stockbrokers since these lotteries funded many business ventures. However, the first English lottery goes back to the reign of Queen Elizabeth I, who held the first lotteries in the 1560s to pay for public improvements and to improve her military forces. Elizabeth’s lottery amounted to a loan since the prize values equaled the amount raised.Lotteries in M

How to avoid Lottery Scams

Lottery – Scams and Frauds

Joining the lottery and winning the jackpot prize is the dream of millions of people. There are countless versions and small town lottery contests one can always win to get some big cash. The most reliable and highest level of money anyone can win is definitely the Powerball and the many televised lottery options out there. There are however several different companies that are scams, and it’s vital to be careful with what anybody puts their money. If somebody actually tries to pay to join a false lottery, there is no winner and the money is brought to the fraud owners. There are several things to be aware of in regards to these frauds that are out there.

How To Know If A Lottery Win Is Fake

– Asking For Money After Winning

If a person enters a contest and the lottery officials say the winner must spend a certain amount of money to redeem such a prize, it is definitely a huge sign that it is indeed a scam. It’s easy to fall prey to this kind of contest mainly because one usually enters this thinking that it is a legitimate contest or lottery. Do not ever spend any money *after spending money on joining the lottery.

– Winning Without Entering Or Paying

There are people and fraud companies that will offer a “lottery win” without a person even entering. It’s as easy as receiving a phone call and having someone say that they had one a contest that they didn’t even enter. These are very easy to spot as a scam, but some people easily fall for it. The moment somebody calls saying the caller won a prize will usually end the conversation with, “to redeem this prize, you must spend X amount of money.”

What To Do

– Cautious With Your Information

Take private information very seriously. Do not give out any form of credit card information or anything too private unless it is a reliable source. There are many lotteries who will actually make somebody give them a ton of private information to steal money from bank accounts. It’s easy for people this way to lose a ton of money, and it could be horrifying when they do it multiple times to the same person.

– A Simple Internet Search

It’s very easy to find out if something is a scam with the help of an Internet search. Typing in the names of a person or the company offering such a prize can be Googled in an instant.

In the end, the goal is to join only legitimate lottery contests. You need to also make sure that you don’t listen to useless unexpected phone calls that make you pay for anything. Be cautious with what you do with your personal bank information because it’s so easy for people to steal anything once they have such info. Scams are always out there hunting for cash, so just be weary of joining unauthorized lottery contests both online and throughout your area.

What is a Lotto or Lottery Syndicate?

About Lotto Syndicates

There have been news articles about groups of workers or friends creating lottery syndicates. They get lucky and win the lottery or jackpot, splitting it among the members of the pool. There are many examples of this phenomenon. In 2013, 12 UK bus drivers won a £38 million lottery, each member of the pool pocketed over £3 million. As of March 2017, two syndicates in Dublin have cashed in on large lotteries. One syndicate composed of staff in a supermarket won €12.8 million. Another syndicate bought a ticket at a gas station and pocketed a whopping €88 million. The largest payout for a syndicate was in Maryland where the Three Amigos won a third of the $656 million jackpot; they divided the $218.6 million three ways.

 

Are 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 and the syndicate may be harder to manage.

 

These examples make one consider whether joining a syndicate is worth the investment. Syndicates have their benefits and drawbacks compared to buying tickets individually. This article will explore both the advantages and disadvantages of buying lottery tickets in a syndicate.

 

Why Play in an Online Lotto Syndicate?

Syndicates offer one main advantage, pooling one’s resources with those of other players increases the probability of winning the jackpot and other high paying prizes. As an example, if one buys an Oz Lotto ticket individually, they have a 1 in 45.38 million chance of winning, however, if the same individual joined a syndicate that buys 100 tickets weekly, they would increase their chance of winning significantly. Syndicates also allow a player to recoup their investment more frequently. Players in syndicates usually score wins in the lower low paying divisions. This reduces the cost of investing in the lottery.
The most significant drawback of syndicates is pretty obvious. One will never win the full jackpot. Any winnings that are won have to be shared amongst all members of the syndicate. This situation also affects the payouts from medium wins e.g. if a syndicate with 12 members wins $12000, each member would only pocket $1000. Another subtle issue that goes unnoticed is that syndicates reduce the probability of being ahead in a single draw. Playing in a syndicate reduces the chances of winning a large prize for a single draw. This scenario arises because syndicates eliminate variance in one’s lottery play, i.e., one is more likely to win a portion of a large jackpot, but the majority of the time players in the syndicate will lose money at the house edge of the lottery being played. Syndicates also bring in several complications when it comes to prize monies. There have been instances where members bought their individual tickets alongside the syndicate tickets, they then win on their individual tickets, but members of the syndicate claim the wins on the winning ticket. In other instances, loyal members fail to contribute money on the day the syndicate chooses a winning ticket.

 

How to start a Lotto Syndicate?

Starting syndicates is easy. Most lotteries provide provisions for playing using syndicates. Lottery syndicates can also purchase the tickets online or from retailers. The best way to ensure that a syndicate is well run is to choose a syndicate manager. The syndicate manager will collect money from all the members, check the lottery results and keep the members informed of any developments.

How do I join an online syndicate?

Joining an online syndicate is convenient and hassle free, all you need to do is decide whether you want to play Lotto or Thunderball or both of these games, and then consider how many shares you want to buy.

One should also ensure that the group has a syndicate agreement. Syndicate agreements are very important as they detail the rules for the syndicate. The agreement should be a contract that details how winnings are distributed among members and what actions to take when members fail to contribute to the syndicate. Most agreements also specify how the numbers will be drawn. Even if all members of the syndicate trust each other, the agreement is necessary for tax purposes. All members of the syndicate should sign the agreement and retain a copy of the agreement. Because the syndicate manager is the one who buys the tickets or opens an account when playing online, the agreement will be vital when dividing the winnings.

 

Lotto Syndicate Forms and Agreements

The syndicate manager will be performing most of the work in the syndicate. They should collect money from the group members either on the day of the draw or in advance. They must keep records of payment so as to know which members have paid their fair share. After the manager purchases the tickets she should keep the tickets safe as they are required when claiming the prize. The group can protect against theft of the ticket by writing the name and address of one of the members on the back of the ticket. Finally, the manager should not forget the most important part, checking the results of the draw. Some people have won the lottery and stayed for weeks without claiming the prize. The manager should also ensure that all members of the group are legally allowed to participate in the lotto. Some countries have a minimum age requirement for participants in a lotto. Syndicate managers should search online for syndicate packs, which contain tools that ease the burden of managing a syndicate.

 

Download your Syndicate Pack Here

 

Some companies such as GiantLottos and LycaLotto provide an online platform that creates a syndicate for registered players. Players determine the number of shares in the syndicate and then purchase shares in it. The system will then choose numbers for the tickets using a randomized system. Such systems are very transparent because each member gets a notification for every ticket that is purchased.

 

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, 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.

 

Winnings are divided automatically to each member depending on the number of their shares. GiantLottos.com provides syndicates for players in international lotteries such as USA MegaMillions, EuroMillions and USA Powerball. LycaLotto offers tickets for Euromillions, US Powerball, the Irish Lotto and the UK Lotto.