Betting syndicates work by allowing would-be bettors to team up and pool together their resources for greater power, in this case stake money, for a greater result, in this case payout.
On this page we will help you to further understand how these syndicates work and why they are so popular. You can also expect to learn the difference between tipsters and syndicates as well as the legalities and technical issues of syndicate betting, while also explaining how and where to get started for yourself.
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What's in this article
What is Betting Syndicate And How It Works
Sports betting syndicates work by grouping together a team of investors and bettors for collective gain through wagering on sports. These syndicates can work by grouping together as little as two bettors and combining their bankroll in order to place bigger wagers or, at the other end of the scale, an operation of many punters including professional bettors and a team of investors.
Once the team is up and running any success is usually enjoyed and assigned proportionally by ratio of buy-in per player or on a predetermined agreement. If one player is responsible for 100% of a win, correctly predicting every outcome, they will normally receive a higher split than the other investors, but this is not always the case.
Is It Legal to play with Betting Syndicates?
Typically, as with a lot of issues around gambling, this varies from region to region. In the UK, legal issues arise only around the nature of the scheme. The loophole concerns whether or not the person collecting the individual stakes and placing the bets is doing so to make personal profit. Also, you may require a gambling operating licence for this type of business.
Why Not Tipsters
Remember, there is a difference between subscribing to a tipster service and getting involved with a betting syndicate. With a tipster service, bettors will normally subscribe, for a fee, to an expert bettor who will share their knowledge and predictions. With a betting syndicate, you bet communally or someone bets on your behalf and you all share in the profits.
Tipster sites and the service they offer allow bettors access to premium betting information by successful betting tipsters. Like any other aspect of betting, however, do your research first. Do not take the first tipster account you see at face value. Instead, take a look at his history, reputation within the betting community as well as his win record.
Check our list of Tipster prediction sites here.
Pools Betting
Pools betting is where bettors help fund a collective bet by contributing a fixed stake into a pool to be used for a wager or series of wagers. Any winnings are then divided between those that successfully predicted the correct outcome.
Why use Betting Syndicates
There are plenty of good reasons to become part of a betting syndicate. Here are just a few of them:
Play With Friends
One great advantage of working in a betting syndicate is that, if you are lucky, you can work with friends, should you happen to share the same interests – winning money! If their betting knowledge is short, you can always involve them on an investment basis instead. If, however they happen to be smart bettors then your pooled knowledge and financial resources could really pay off.
Reduce Losses
Remember, when you win together, you win together and share the profits. Well, it works the same in reverse. Hopefully, you get so good that you rarely lose at all but, when betting, losses are unfortunately inevitable and when they do happen, you share the hits so the damage is shared collectively.
Delegate By Skill Set
While some syndicates utilise the knowledge and betting systems of perhaps only one person, this is rare so divide your team up in to relevant skills. It would also be a good idea to delegate roles so that your team works as efficiently as possible. Once you’re all set, running a betting syndicate is really just a matter of analysing the data, utilising spreadsheets, running the numbers and watching the odds change in real time. These are all jobs that can be handled individually by delegating roles across your team.
Make Bigger Profits
Naturally, the greater the stake, the greater the payout and when you all club together you can win some serious numbers (we have even included some examples below). Armed with a larger bankroll means that you can make bigger bets more often and, if you are a successful punter, this will naturally increase your profits.
Simultaneous Wagers
Syndicate betting is a professional business and bets can be going off 24/7, 365 days a year. While your recreational bettor is simply posting bets on a semi-regular basis, syndicates will lose huge sums if they miss out on a premium price or massive betting opportunity. Having multiple accounts managed by the different members of a team means that syndicates are able to take advantage of a potential opportunity immediately.
Bypassing Betting Limits
One brilliant advantage of joining a syndicate is that pooling together your resources with others allows you to collectively breach annoying betting limits. Bookmakers often set limits on how much users can stake on a single bet or even over the course of single day. However, if bettors all club together and bet their individual limits and the bookmakers are unaware that the accounts are all working together, there is very little they can do about it.
More People, More Data
Any professional operation needs to analyse its results and the same is true of a betting syndicate. The more qualified and skilled people utilised by a group, the greater the scope of data they can process. This way, they can accurately keep a track of their profits and losses. There is also the need to research all the variables and mathematical probabilities before placing a bet that is every bit as critical towards the success a betting syndicate might enjoy. Generally, great wins don’t happen by chance and repeated success is even more unlikely so a team of number crunchers is vital.
Biggest Betting Syndicates Winners In History
Here, we can see how people have taken advantage of syndicate and pools betting to rake in some really big results.
Pick 15 Colossus
In October 2019, one lucky punter over at Colossus Bets was playing their Pick 15 game for £384. Concentrating purely on football, six of his opening seven selections went his way with the seventh match being abandoned due to the weather. While this would ultimately reduce the jackpot to £250,000, his selections kept flying as the bet rolled on to the next day. At Colossus you can trade parts of your bet for a sum and this bettor did just that, selling of 30% of the ticket for £6,413. Knocking back offers for the remaining 70%, the player sold another 10% which added a further £4,342 to the pot but there were just two legs remaining and 60% of their ticket still active. The player was offered £54,723 for the final 60% of his ticket but, with one leg remaining, the player sold another 10% for £9,120. Sure enough, the last leg of this hero bet came in, banking him a final return of £128,959.
William T. Walters
America in the 70’s and William T. Walters, one the most successful sports bettors in history, headed up the biggest betting enterprise of all time. His behemoth of a betting syndicate flourished legally largely because no single player was allowed to bet more than $20.000 on a single NFL match. On top of this, bets were placed abroad and, by getting fellow members to bet on his behalf and following his instructions to a tee, Walters was allowed to collect winnings in the region of tens of millions of dollars over a 30-year period.
Tony Bloom (Starlizard)
English maths whizz and poker pro Tony ‘Lizard’ Bloom runs the biggest betting syndicate in the world today. By investing his poker winnings into Starlizard, he formed a stats based betting syndicate that had become the envy of world bettors who line up to by his model which, he claims with some justification, to be more advanced than the bookmakers themselves and is producing results worth over $150 Million a year by betting purely on Tony’s predictions. In fact, Bloom has won so much over the years he is now valued at around £1 billion and is the owner of the Premier League football team Brighton and Hove Albion. For someone so used to winning, there might not be a need to form a syndicate and yet there is. Starlizard was founded as a way for Bloom to minimise losses and bypass betting limits. Literally a win, win except for the bookies of course.
Build Your Own Betting Syndicate
To put your own betting syndicate together is really very simple. All you really require is a willing collective of bettors, preferably with some betting skill, and a place to work. Plus, in today’s connected workplace, you don’t even need to work together so long as you have a Wi-Fi connected network. In order to generate profits, you will need to a working betting system and ideally make sports betting your full-time job.
Pools Based Betting Sites
Starlizard
This “highly successful sports betting consultancy” dedicated itself to understanding sports and sports betting from picking the right selection, taking it to market, finding the best possible price and wagering huge sums for maximum profit. It’s all achieved by a fully funded team of staff constantly watching the markets and using their encyclopaedic knowledge to convert it into betting probabilities. They are the world’s biggest betting syndicate in operation today.
Mr Green
Online casino and sportsbook, Mr Green run a pools betting product known as Jackpot Bets which involves a series of exclusive £5 million Super 8 jackpots. The Super 8 jackpots are exclusive to Mr Green and are won by successfully predicting the correct score in a series of 8 matches. Working in collaboration with Colossus, the games come complete with Colossus’ unique ‘Cash Out’ feature, which allows bettors to bank profits as the bet progresses.
Colossus Syndicate
Colossus Bets are a pool based operator who have pioneered some of the innovations that have rocked the pools betting market. Offering the world’s biggest sports jackpots across a range of sports, players share the relevant winnings. Colossus were the first firm to offer cash outs, while they also promote guaranteed Jackpot and consolation prizes. They use pool bets by crowdfunding syndicates where players choose to by a percentage of a bet with winnings paid out to a proportioned ratio.
Conclusion
Betting syndicates work by members of the syndicate pooling resources and working together to attack the bookmakers as a team. Betting in numbers can really pay off, particularly if you have an expert or two in your team. This will help you to find the correct bets to place and at the right price too. As we have seen in examples listed above, this can really pay off, while helping to reduce the impact when bets lose. Betting syndicates also provide a handy workaround to betting limits and, for the serious bettor, definitely worth investigating further.
