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How To Set Up A Lottery Syndicate

We all know that the only way to increase your chances of winning it big on the lottery is to play the numbers. One of the best ways to do this is to be part of a lottery syndicate. As well as increasing the chances of that lucky win, its also a sociable way of playing the lottery. Many people join lottery syndicates at their place of work, but if you do not have one to join don't worry, its very easy to set one of your own up!


Get The Ground Rules Set:

If you are going to set up a lottery syndicate you have to accept that you are taking on a position of responsibility. People are going to be trusting you with their money and look to you to make sure that everything is recorded properly and runs smoothly. It is therefore important to make sure that everyone understands any rules from the outset. Questions like who is taking part? what happens if someone is on holiday? (i.e. are they expected to pay up front? Who buys the tickets? Do you buy tickets online from places like http://www.bettinghotel.com/ or from a shop? Who is responsible for checking them? How are you recording who has and hasn't paid? All need to be thought about and answered. This way everyone knows where they stand if there is a dispute. An agreement should be written up and signed by all members of the syndicate covering these rules. Kits for creating a syndicate can be obtained from lottery sites.

How To Pick the Numbers:

Another thing that needs to be considered is how you are all going to go about selecting the numbers. Are you all going to play different numbers every week? In which case someone needs to be responsible for making sure members have provided the numbers they want to play with. Are people going to stick with the same numbers every week? This option does make the organisers job easier. As the syndicate organiser, if you buy the tickets it will be your name generally that goes on the back of the ticket so look after it carefully.

Things To Cover In Your Syndicate Agreement:

To run a successful syndicate and avoid issues it is wise to make sure that there are certain things covered in the agreement that everyone agrees to. This means that if something goes wrong you have obvious resolutions. You should consider putting the following things into your agreement:

  • A list of the members of the syndicates
  • The date the syndicate was set up
  • Which days the tickets are being purchased for? (Wednesday and/or Saturday for Lotto or Tuesday and/or Friday for Euro-millions)
  • The name of the syndicate organiser
  • How the numbers will  be chosen?
  • How much each member pays per draw and what the percentage split of wins is?
  • What happens when a members contribution is missed?
  • What happens about publicity?

 

All members should sign and receive a copy of the agreement. It should also be witnessed by someone like a solicitor or doctor.

All that remains is to take part  and enjoy the spoils. Your chances of winning as a syndicate are much improved, so even if its only a few extra pounds, use it to treat you and yours to something nice.