One of our $10 Saturday lottery syndicates won $883.50 per share on Saturday night. That’s an excellent return from a $10 investment. We are promoting the win to our lottery customers to show rewards which can be won by joining a syndicate. The buzz from this small win is great. This prize feels more achievable than those worth millions of dollars.
Syndicate sales are all about getting a piece of something bigger than you might afford by yourself. They appeal to people who want to be part of a community.
We are not greedy in our pricing – most syndicates are priced at $20 a share or less. We do have more expensive ones when the first division prize reaches $20 million but for week to week lotteries, the smaller ticket price works well for us.
Saturday’s success has pushed syndicate sales this week – we will end the week more than double on last week’s numbers. This is surprising given that the prize was small in the overall scheme of things. It says something about celebrating small victories.
Dont be so sure about that Mark,With the upcoming ability to purchase into large syndicate tickets via the tatts terminals the local house syndicate is doomed,and guess what tatts will now also sell these syndicates online themselves which they currently dont do,and which is the retailers only point of difference,so they screw us again
Helen, I think there will always be a place for local community based syndicates.
Helen, When Golden Casket did the same thing our syndicates stayed at the same level. You also have a chance to upsell to the larger syndicates that otherwise you can’t run due to the cost. You may be suprised by the people that will pay extra for the more expensive ones.
Thanks Ian,just a query does golden casket sell these type of central syndicates online as well
Helen in NSW network syndicates have always been available. They don’t take anything away from local store syndicates. In my experience most people won’t by them unless there is no local syndicates available. They like the feeling of sharing a win locally.
I heard in qld during the recent huge jacpots this type of network syndicate was putting on the largest sytem every 12 minutes,that surely must effect somones local syndicate sales
Local syndicates won’t suffer as long as you have people to buy them.
At our second store, they have a local syndicate which has been running for many years, the only way to get into it is if someone dies!!
People like “the local”. We are in QLD and most days before the girls even get the syndicates info out they’ve got ten people waiting to buy them. They like the feeling that they get to share their win with their neighbour.
And with all the hacking, identity theft and risk associated with the internet, I think people are moving back toward face to face transactions.
Of course i’d be only guessing but i don’t think implementing syndicates via the terminal will make a massive difference to house syndicates.
From what i took from the latest Tatts zone meetings is that when the new additions come in it’ll just make it easier to sell higher priced shares given you’ll be able to share the load so to speak with other outlets and not have to sell every share yourself.
Of course it remains to be seen but i don’t think it’ll have much of an adverse affect on our usual house syndicates. In fact i’m looking forward to the changes.
About the size of the prize, it can be easy to forget with the big numbers for jackpots etc, that $800+ is a couple of weeks wages for a lot of people, and it is an amount that has obviously struck a note with your buyers. I have found syndicate payments of $1 or $2 very discouraging in the past. When you share a 5th division with 10 people it becomes a bit sad, but the thought of $800 is nice, and that is why I often buy systems, but they can get dear.
As for going online, I tried that once and it was a lot more expensive for the system 8 or whatever I bought that time. I only did it as I was very ill, otherwise I also like to do things locally. Then when I won a small prize I had to fill out forms and fax them off, and it took weeks. They take your money online quickly, but getting paid is a lot harder than walking into a newsagent and getting cash the next day or so after the draw. On principle I took the money just to see how hard it would be, whereas when I get a small prize locally I would tend to spend much of it on another ticket usually.
I think the associations in each state should research the costs of online, as I had no idea of the normal price per box, and I didn’t realise at the time I was paying so much more. It is a point of difference worth promoting in store.
I suppose im thinking a little selfishly but every superdraw i put on two system 20 syndicates at $2000 a share plus various other large value syndicates,have done for years,its very hard to build up a client base to get this covered all the time but we have,im just worried that now such long term efforts will just discipate into the overall network and even worse online through tatts own website,especially when we ourselves cant compete and sell online
Wow, $2,000.00 a share???? And people actually buy these on a regular basis? I know that Systems 20 increases your chances to win but have you ever won?
28 times in 23 years,but only ever twice with a system 20..
Hmmm, still don’t think I could shell out $2,000.00 on a chance that I “might” win. People must be bonkers?? Or have too much money to throw around?? Or have a serious problem??
All I can say is wow.
Helen,
I think you’ll find your in a rather unique situation. Very very few agents would regularly sell syndicate shares that anywhere near that large. And besides, you still make comission on network syndicates.
Our experience is that customers prefer store based syndicates. Online simply makes them easier to manage and provides the opportunity to sell them from multiple selected stores (ie your own stores, with neighbouring agents or within a group such as newsXpress does in QLD).
Hi
I would like to join a good lottery syndicate.
There are syndicates and there are syndicates.
Can somebody suggest a good syndicate?.
Thanks.
Cameron.