Is Lotto Magic Wealthperx scam? Read our Wealthperx.com review 2020 to find out!
In the digital age that we live in today, falling prey to a pyramid scheme and losing more money than we would like to admit is something that can happen to anyone—even the sharpest and most eagle-eyed amongst us. What makes this even easier is when something comes along that looks too good to be true and yet makes us feel at ease and as if we can fully trust it. In this Lotto Magic by Wealthperx review, we will look at this syndicate offering and see what it is all about and how it can eventually cost you a pretty penny.
What Is Lotto Magic Wealthperx?
Lotto Magic (rebranded to Wealthperx in 2016) is an online lottery syndicate that claims to pay you to play—whether or not you have any winning tickets. If that already sounds too good to believe, then hold onto your seat because the other claims made by this syndicate will make that seem mild.
The syndicate was apparently started as a simple lottery club way back in 1996 and has since developed into a global network of players who supposedly rake cash in by the wheelbarrow. The players take part predominantly in the Florida Lotto but have also expanded to include two other world-renowned American lotteries—Mega Millions and Powerball.
How Does Wealthperx Work?
To be honest, if we were to explain this lottery syndicate the same way that the official website describes it, we would run out of words in trying to make sense of any of it. So, we are going to simplify the process that this syndicate follows and put it in the most basic terms we can.
Basically, when you join, you will have the option to participate as a player or as a director. Each of these options is vastly different and cost vastly different amounts. Each of these options also has three different tiers assigned to them: Bronze, Silver, and Gold.
To explain how this system works, we will explain the joining process separately depending on whether you choose to join as a player or as a director.
Joining as a Player
If you choose to join as a player, you won’t need to do anything other than pay your monthly subscription fee. As a player, the director that you get assigned to (usually somebody that has referred you to join) will need to do the work (if there is any). Everything else gets handled by Lotto Magic including the purchasing and storing of tickets, claiming winnings, and paying out winnings.
The Bronze player membership costs $30 per month and entitles you to 64 Florida Lotto tickets each month. The Silver membership, which gives you 64 Florida Lottery tickets and 64 Powerball tickets every month, costs $60. The highest player tier, Gold, costs $130 per month. Amazingly, however, the site is silent on what you actually get for this amount and only says that it offers tickets to Florida Lottery, Powerball, and Mega Millions.
The catch to registering as a player rather than a director is a rather significant one. As a player, you will only be entitled to 10% of any winnings that are due to you or any other players in your group—even if the winnings are on your lottery ticket and not another player’s. This is because all winnings are split equally at 10%, as each pool consists of ten people (eight players and two directors).
Joining as a Director
Joining as a director is a much more time-intensive and expensive exercise that also has a much higher payout (apparently). As with the normal players, you will be required to pay a monthly subscription fee on one of the three tiers. Each of these tiers gets you the same number of tickets as a player except at a much higher price ($60 per month for Bronze, $120 per month for Silver, and $260 per month for Gold).
This is supposedly because, as a director, you will receive much higher winnings—mainly because you will be eligible to claim 50% of the winnings from your own winning tickets. However, another unique thing to directors is that you will need to recruit players or other directors that will each fall under you and lead to you receiving royalties on anything that they win (pyramid scheme anyone?).
For each player that you recruit, they will fall under your pool, and you will be entitled to 10% of any winnings from any of their tickets. If you manage to recruit a fellow director, you will receive 10% of any of their winnings, as well as 10% of any winnings of any players that they manage to recruit underneath themselves.
According to the site, the way that these levels can grow are exponential, and you could quickly end up with hundreds of people underneath you that each pay you monthly—simply because you referred so many people or directors that, in turn, referred more.
What Else Does Wealthperx Offer?
Aside from ridiculous claims on massive cheques from losing the lottery, Wealthperx also brands itself as a saving, business, and vacation club. According to the website, all players are entitled to “paid access to an online coupon connection” that will save them money on groceries, restaurants, cruises, airfare, theme parks, unlimited vacations, medication and prescriptions, and even stocks on the stock market. The fact that subscribing as a Bronze player (for only $30 per month) could entitle us to unlimited vacations (whatever that means) had us bursting to sign up. Sadly, the Join Now link on the website seems to be conveniently broken and does not allow new registrations. (Lol.)
Does Lotto Magic Wealthperx Actually Work?
If you haven’t read between the lines of our review thus far, let us be clear—this syndicate is a complete scam and one of the best ways we have ever come across to waste your money. If earning money off of losing lottery tickets was as simple as recruiting people also to buy losing lottery tickets, then we would have signed up ages ago. Unfortunately, there is no such nonsense like this, and the fact that Lotto Magic (or Wealthperx) has managed to put such a spin on this amazes us.
In truth, however, we can see how this pyramid scheme has fooled people. When reading the info online, it is clear plenty of thought has gone into how this scam is being sold. The terminology used and how the whole system is explained is geared toward making you trust that it could actually work for you. The truth, however, is something much more sinister and could easily cost you a small fortune with no return.
One place that saw this truth is the state of Iowa, who banned Wealthperx outright in 2017 after a lawsuit that saw the owners of the site pay back $53,000 to victims of the scam in the state. During the investigation, it came to light that players and directors had paid over $130,000 to Lotto Magic and had only received back around $10,000 (collectively). The state regarded the scheme as blatantly fraudulent and ensured that nobody in the state would be caught by it again. Rarely have we heard governments go to such lengths to crack down on lottery-related scams, so that alone speaks volumes.
Syndicate systems like this upset us for one reason—they undermine legitimate lotto syndicates that are available that actually do try and help players improve their chances of winning. There are plenty of lottery websites that offer great syndicates that don’t require you to recruit players and that don’t make hundreds of empty promises (like winning from losing tickets).
Our final advice? Stay as far away from this as you possibly can. While we are genuinely glad that the Join Now option on the official Wealthperx website is broken, we will only truly be happy once the site has been entirely removed from the Internet.
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