Lottery
UK Lotto
I took one promotor of elotto.com to task recently because I simply could not believe that their level of care for their customers was so low. The response I got was simply that it was ‘just a bit of fun’.
No it isn’t!
It is an on line business designed to capitalise on the hopes and dreams of lottery players by giving them false impressions of what the syndicate can do for them.
Here is my reaction to this type of business:-
“The first warning that this is a rip off comes with the use of huge percentage figures. To say you have a 3,600% increase in the chance of a share of every EuroMillions jackpot is extremely miss leading – even though accurate. 3,600% simply means that you are 36 times more likely to win a small share of a prize which means that the odds of winning have been reduced from 1 in 13,500,000 to win the whole prize to 36 chances at 1 in 13,500,000 for a small part of it – not a particularly significant increase in benefit, you must agree.
If you look at the UK lottery, a syndicate of 49 people pays £245 a week but only buys 88 lottery entries – where does the other £157 go? If the individual bought 5 tickets for himself he would have a 500% increase in the chances of winning 100% of the jackpot instead of a 733% increase in the chance of winning 2% of the jackpot.
Looking at the record of eLottery, in 6 years and six months it has won more than £3,000,000 for its members. This equates to around £9,000 a week or £184 per syndicate member per week IF ONLY A SINGLE SYNDICATE WON EACH WEEK! If an average of 10 syndicates had won a prize each week, then the prize is only £18 per syndicate member per week – of course, thousands of members won’t have won anything.
In the same period, on the UK lottery alone, the company has received over £53,000, from each syndicate member, that was not directly used to purchase lottery tickets. I can accept that a reasonable profit margin needs to be earned, but, even allowing for the commissions of up to 25% of the subscription of each personally introduced eLottery player, earned by those promoting this ‘business opportunity’, I find £5,770 per lottery syndicate, per week, a little excessive.”
If you want to increase the chances of a lottery win, you would be far better advised to form a syndicate of your own. Seven people paying £5 per week would have a 3500% (don’t you just love those big numbers) greater chance of winning a share of a prize which would be over 300% larger than with the elotto.com scheme instead of a 733% greater chance of winning 2%. At least this way you know you are giving yourself a better chance of winning and not paying anybody else a large portion of your lottery ticket cost as commission for doing nothing. (Somebody with 100 members of their own promotion of this scheme will be earning an absolute minimum of £100 per week out of the money that is supposed to be buying lottery tickets – not a bad return on a £9.90 investment!)
