Boards.ie Lotto Syndicate Via Paypal ?

my lotto luck is all over the place i wont win anything for a year and then in the space of one month (this time last year actually) i won 13 times in one month (2 euro millions, 11 national lotto wins) in 4 weeks.

ok so lets hope noone wins the lotto today then let it roll over so we can get this orginised and win it as a syndicate

I'd go with looksee's plan (standalone, one month syndicates). If you're in, you're in. If you're not, you're not! No debate, no discussion, no problems.

Flukey wrote:

Wrong. You have to buy a minimum of 2 lines, so it is half that, unless you were stupid enough to have the same numbers on both lines.

Nope. It's not half of 8.5m if you do 2 lines. The odds remain essentially the same.

I can never understand when people do more than the minimum amount of lines when playing the Lotto. Doing more lines (the average 4 or 5 extra) only increases your odds of winning by a minuscule amount. The way I see it, if it's time for you to win you will win.

The good folk here will throw out a few logos for you.

Two seperate lines both have the same chance of winning.
I don't know how to do the maths on it, but you would only increas your chances of a jackpot win by very little. It would go from 8,555,444 in one to 8,555,443 in one or something to that effect.

On the other hand, you do increase your odds of a small win by a fair bit.

Terry wrote:

That's actually a very good idea.
Give people a certain amount of time to sign up and if they don't meet the deadline, then it should be made clear that they have no claim on anything won that month.

Shortly after the lotto first began, I was part of a 50 something person syndicate. for the 6 months I was in it, we never won anything.

Seconded

PaschalNee wrote:

If you do twice as many lines you have increased your odds of winning by 100%, no? Since when was a 100% increase considered "a minuscule amount."

Granted the odds are still way out there but it's still a 100% increase in your chances. Unless I misreading you?

You don't increase you chances to win by 100%. All you do is have 2 chances to win at 8.5million to 1.

The exact odds for winning the Lotto with 1 line is 8,145,060/1

How you work it out is as follows:

Starting from the highest number 45 work back six numbers multiplying by each other.....

45 x 44 x 43 x 42 x 41 x 40 = 5,864,443,200

Then you need to do the same for the amount of numbers you can pick, which is six....

1 x 2 x 3 x 4 x 5 x 6 = 720

You then divide the 720 into 5,864,443,200 which gives you 8,145,060

So I'm guessing that if you do two lines the odds of winning (matching 6 numbers) becomes 8,145,059/1?

BaZmO* wrote:

So I'm guessing that if you do two lines the odds of winning (matching 6 numbers) becomes 8,145,059/1?

as far as i know you are right up to this point.

one line = 1-8,000,000

two lines = 2-8,000,00 = 1-4,000,000

you do not change the 8mill figure when you add another line because the 8 mill figure is the possible number of permutations of 6 numbers....that number does not change no matter how many lines you pick as there are always the same number of possible outcomes for the draw. what does change is how many of those outcomes you have chosen. increasing the numbers of lines you do is the only time you double your chances of winning though. if you have 3 lines the odds are 3-8,000,000 = 1-2,666,666(roughly)

Thats an expensive coin toss!

Get me the back to the future car and I will go forward to tonight and watch the draw then return to now with the numbers for the boards syndicate.

If only. :rolleyes:

Odds of matching the following:

Match 6: 8,145,060/1
Match 5 + Bonus: 1,357,510/1
Match 5: 35,724/1
Match 4 + Bonus: 14,290/1
Match 4: 772/1
Match 3 + Bonus: 579/1
Match 3: 48/1

If we staked a total of €1,800 in each draw (200 * €9).

Thats a total of...
€187,200 spent per year
and
124,800 lines per year

How many times a year we'll get the following on average (excluding Jackpot and 5+bonus):

Match 5: 3.5 times per year (or 7 times every 2 years)
Match 4 + Bonus: 8
Match 4: 161
Match 3 + Bonus: 215
Match 3: 2,600

Estimated winnings on each per year (excluding Jackpot and 5+bonus):

Match 5: 3.5 * €1,500 = €5250
Match 4 + Bonus: 8 * €150 = €1200
Match 4: 161 * €50 = €8,050
Match 3 + Bonus: 215 * €25 = €5,375
Match 3: 2,600 * €5 = €13,000

Total winnings on the 'smaller' amounts:
€32,875

Which is 17.5% of the total stake.

If we all spent €936 a year we'd get back on average €164 each. I think it'd be best to give everyone their winnings at the end of the year but it's a lot harder to do.

Anyway, that's going by the way I explained in my previous post which required 200 committed people. We won't get anywhere near that amount. It just makes it a lot easier to work the calculations that way

Heh looking at those numbers make less inclined to join a syndicate

You're spending 936 a year on the odds of 65/1 that you'll get a return of maybe 5k-50k(1-10million jackpot) possibly + the average return of 164 euro

so effectively its a bet of 772 @ 65/1 where the return if you actually win can quite possibly and more than likely to be less than 51k which is close to the return you would get from a bookie with a bet like that.

You'd be better off in the grand national

Also two lines gives you a 2 in 8,145,060 chance of winning not a 1 in 8,145,059. The number of tickets you buy does not reduce the number of combinations that can be drawn, it only increases the number of combinations you have.

odds of 1 line winning is 1/8145060 = 1.227738e-7
odds of 2 lines winning is 1/8145060 + 1/8145060 = 2/8145060(assuming both lines are not the same.) = 2.45547e-7 so it doubles your chances of winning.

The easiest way to think about it is that you only have one combination not 6 numbers. If it were 1 number drawn from 5, what are the odds if you have 2 numbers.

2/5 = 40%
3 would give you 60%

Same applies here only you have 8145060 Combinations so each extra line you have increases your probability of winning by 1.2277e-5% EDIT: provided that no line is duplicated