Syndicatetool Exposed — Is It As Good As They Claim?
Syndicatetool Review
Most people agree that participating in a lottery syndicate can increase the odds of winning. The big issue is how people go about it. We’re not just talking about how the ticket lines are picked but the framework that people agree to play together. Syndicatetool.com is an online site that structures syndicates for free. Yes, folks, it’s a free system that takes care of all the management aspects of your syndicate including purchasing tickets and collecting winnings. But is it as good and easy as Syndicatetool.com says?
Is 24Lottos the best lottery service in the UK?
How Syndicatetool Works?
Registering your syndicate at Syndicatetool.com is pretty straightforward. The initiator or syndicate manager goes in and sets up the play. Members of the syndicate individually have a login where they top up their account and/or collect their specific winnings as part of the syndicate. It’s not up to the manager to collect the money but to individuals. The system publishes the tickets for all members to see their numbers. The syndicate tool itself is the actual agreement. The accounting software shows who is and how many are sharing the syndicate at any given time. If a player skips a week of play and the syndicate wins, they do not get any portion of the win.
Games Available
Keep in mind this is only for UK lotteries – The National Lottery, Thunderball, and EuroMillions. Syndicatetool.com purchases the tickets for the face value taking their commission like any corner store. The only fees that seem to apply are any costs in transferring winnings to players. It all looks pretty straightforward forward and in many ways, they simply act as the banker to playing lotteries for groups.
Who Can Play at Syndicatetool.com?
Anybody over the age of 18 can play from any country. It doesn’t appear that there are any residency requirements and/or they say they will transfer your winnings anywhere you want. These lotteries are tax-free, but you’d better check out the rules and regulations where you reside. The other issue is getting people to play. It looks like this is the type of site where you build your own group and this might take away from the number of tickets shared. Then again, you can control how many shares are in play.
He Said, She Said
Given the number of disagreements we’ve read over the years on syndicates that have been set up and run by individuals, it would be great to have somewhere to play that was simple and straightforward. We did find one thread [forums.moneysavingexpert.com] of a discussion on Syndicatetool.com which bounced back and forth on the pros and cons of the site. It was not conclusive though there did appear to be a question on when they actually bought the tickets versus your responsibilities in topping up your account. It would be important to check the small print regarding the time lag on when they buy the lottery tickets.
Who is Syndicatetool.com?
Syndicatetool.com is owned by a UK company called Lotterytech Ltd with offices and a phone number in London. They also have an online form and email address. Customer service by email does respond within 24 hours. They say they’ve been around since 2003 helping to manage syndicates for people and UK entities.
Why You Should Register with Syndicatetool
Pros:
Free
You Choose How Many Share in Your Syndicate
You Choose Who Plays in Your Syndicate
Why You Shouldn’t Register with Syndicatetool
Cons:
Only Three Lotteries Available
Only UK Lotteries and EuroMillions
Getting People to Join
Is Syndicatetool Legit?
These guys look legit and seem to have established a mechanism for people to set up their own syndicates and keep it all clean. On the other hand, if you’re simply interested in playing the UK lotteries in a syndicate and want to set your own up, you can go to The National Lottery and download their syndicate pack.
Syndicatetool.com gets a thumbs up. Well, that is if you only want to play in a syndicate that offers only UK lotteries and EuroMillions. It would be great to get real feedback from anyone who has set up a syndicate here.
J J
I might be wrong but I’m pretty sure they don’t actually buy any tickets but are purely insurance backed to enable them to pay out any winnings as the odds of a jackpot are so low. Rang National Lottery and found the ticket numbers are not valid which seems to confirm it. Ring them yourselves to check.
Molly
Awesome tool! It is user friendly and possesses everything you need to easily manage the syndicates. You can store the tickets within your account. Winning numbers are checked automatically and the prizes transferred immediately.
Kevin
I’ve managed an office lottery syndicate for a couple of years now with syndicatetool and have had no problems, or any big wins! Its very hassle free to manager as its up to the individuals to pay into the scheme. They can automatically take money out of our accounts to keep the balance topped up. Great.
Trevor
Used them until our syndicate decided it wasn’t worth it anymore. Up on closing the account no one got a refund for remaining credit and they claim it was all paid back. We are still trying to get our money back. Beware.