How
to Run a Lottery Syndicate
by Trevor Nicholls
Whether
you play with workmates, friends or family, it's
always more exciting playing in a group. The more
lines your group buys, the more entries you have
in each game, and the more chances you have of
winning.
When you've decided who's
going to be in the group and before you start
to play, you should draw up a group agreement.
Your agreement should cover
the following:
- The date the agreement
was drawn up
- The appointed manager's
name
- The names of the group
members
- Games and numbers played
by the Syndicate
- Which draws you will enter
- How much each member will
pay per draw and how you will split any winnings
- What happens if a member
fails to pay their contribution at any time
- If the group has a big
win, how the members will decide whether or
not they want publicity
You must then put in place
the method of collecting the money, e.g. Standing
order or Cash payments and include in the agreement
what to do in the event of a win and there being
outstanding payments due from a member.
The agreement must be signed
and dated by each group member and should be witnessed
by, I suggest, a solicitor, doctor or someone
of similar standing.
If the group changes, the
agreement should be amended to reflect this or
a new agreement drawn up alltogether.
It is important to keep everyone
in the group involved and motivated. You can do
this by communicating regularly with your members
to encourage their involvement. Make sure that
all your members are aware of any wins.
Being a lottery syndicate
manager is a lot of work and carries a great deal
of responsibility. For example, it will be your
responsibility to ensure tickets are purchased
according to the agreement. What happens if you’re
unable to purchase them for that week. Sod’s
law is that it will be that week that you have
a win.
Author Info:
Trevor Nicholls
runs a number of lottery syndicates and is a Group
Affiliate for Virtual World Direct. He offers
the chance to join a lottery syndicate at at http://www.v-w-d.com/tnichs
His Blog http://lotterywinners.blogspot.com
gives lots of useful information about lottery
syndicates.
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