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Do You Want to Organise Your Own Lottery Syndicate!

An unbelievable sum of money is spent every week on lottery tickets by the population who hope to win the jackpot, but the truth is, the chances of winning are extremely small. And that holds for any lottery on the planet. Consider the UK National lottery for example; there is a 1 in 13,983,816 likelihood of winning that lotto and even longer odds of winning the European lottery, which stands at 1 in 76,275,360. Though you are more lightly to win a small prize on the European lotto!

Now, you are able to put those odds in your favour if say you share the cost with some friends, work colleagues or even family members. That’s ok, but how often have you read, or seen on the TV news, accounts of people who have won the lottery as part of a syndicate only to deny it and tries to keep all of the winnings to themselves. They might have genuinely bought the ticket/tickets themselves or perhaps not! Wouldn’t it have been so much easier if they entered into an official syndicate agreement and saved all the bother? You’ll be able to download a syndicate agreement from the UK National lottery website at: www.national-lottery.co.uk

Hence, if you have ever debated whether to set up a lottery syndicate, here are a few useful tips for you:

Gather your syndicate members together and decide your weekly budget. 1 or several of the players might prefer to spend a lot more than the others in the syndicate, in which instance they would have to purchase double or triple entries then obtain twice or triple the percentage of whatever profits there are.

Choose someone to manage the syndicate: this would plainly have to be a person that’s reliable, well-organized and trusty! They will have to be responsible for gathering the ticket numbers and buying them. Don’t forget that the tickets will have to be purchased in the manager’s name and you’re entirely reliant on them to pay out your profits – therefore decide wisely!

Besides, you will need to draw up a lottery syndicate agreement then have it signed, witnessed and date stamped by all the players. Syndicate agreements are can be downloaded from the internet as mentioned earlier but sadly they will not aid you if your syndicate manager was last seen boarding a plane to the Bahamas with all your winnings. That said they are a worthwhile precaution because they set down the conditions of your agreement on paper.

Getting the agreement signed and witnessed by all members is very valuable in as much as it allows players to stipulate what will happen with their percentage of the winnings if they pass away. If prepared right any portion of the deceased person can be equally distributed between the remaining members or whether it is to be passed on to their estate!

A very important point here is, whenever the agreement can be demonstrated to have been signed in advance of the winning draw, then, the prize will be exempt of death duty as the law currently stands.

The agreement must also include the syndicate policy since what will happen, if a member doesn’t pay up on time. Will they surrender whatever winnings they think they are due, or will there be a time period of grace?

How much notification must each member give to leave the syndicate? What is the group’s policy on publicity in the event of them hitting the jackpot? This may represent some major problem if they are not in agreement in beforehand with a few players  wanting their fifteen minutes of glory and their photographs in the news papers and others preferring to stay entirely anonymous, a few not even wanting their family and friends to know they have scooped the jackpot!

These are all factors which require discussion with all parties thus must be considered in advance to head off whatever problems that may arise 

You then have to agree on the numbers you are going to use, it’s better to have the same ones every week to have an easier life for the syndicate handler! It’s also a good idea to print out a duplicate copy for the players to allow them to mark off their numbers.

Rather than paying up weekly, if the players are agreed it is more beneficial to pay up every 4th to the 8th week, then place the submissions in advance. Naturally, great care should be observed in this event since any minor error will be carried forward for a whole period of time, not simply one draw.

Agree to regular meeting with your lotto syndicate players to give them a chance to nominate any revisions they would care to see with the numbers and payment procedures etc.

There’s is no escaping from the fact that running a syndicate can constitute rather a lot of work and there’s also a real big obligation for the manager.

About the Author

Tom Gee owns a website which gives information on

elottery syndicates,Visit: -

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