The jet opening angle theta_jet and the bulk Lorentz factor Gamma_0 are crucial parameters for the computation of the energetics of Gamma Ray Bursts (GRBs). From the ~30 GRBs with measured theta_jet or Gamma_0 it is known that: (i) the real energetic E_gamma, obtained by correcting the isotropic equivalent energy E_iso for the collimation factor ~theta_jet^2, is clustered around 10^50-10^51 erg and it is correlated with the peak energy E_p of the prompt emission and (ii) the comoving frame E_p and E_gamma are clustered around typical values. Current estimates of Gamma_0 and theta_jet are based on incomplete data samples and their observed distributions could be subject to biases. Through a population synthesis code we investigate whether different assumed intrinsic distributions of Gamma_0 and theta_jet can reproduce a set of observational constraints. Assuming that all bursts have the same E_p and E_gamma in the comoving frame, we find that Gamma_0 and theta_jet cannot be distributed as single power-laws. The best agreement between our simulation and the available data is obtained assuming (a) log-normal distributions for theta_jet and Gamma_0 and (b) an intrinsic relation between the peak values of their distributions, i.e theta_jet^2.5*Gamma_0=const. On average, larger values of Gamma_0 (i.e. the faster bursts) correspond to smaller values of theta_jet (i.e. the narrower). We predict that ~6% of the bursts that point to us should not show any jet break in their afterglow light curve since they have sin(theta_jet)<1/Gamma_0. Finally, we estimate that the local rate of GRBs is ~0.3% of all local SNIb/c and ~4.3% of local hypernovae, i.e. SNIb/c with broad-lines.
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