LOTTERY SYNDICATE AGREEMENT GUIDE FREE LOTTERY SYNDICATE FORM! Everything you need to start your own lottery syndicate. From the people at Lottoland UK.
TABLE OF CONTENTS Introduction 3 Benefits Of Lottery Syndicates 3 How To Set Up A Lottery Syndicate 4 How To Bet As A Syndicate With Lottoland 4 Why You Need A Lottery Syndicate Contract 5 Lottery Syndicate Agreement Form 6 Lottery Syndicate Form (Free Template) 6 2
Introduction According to the UK National Lottery one fifth of all lottery wins are by syndicates. That averages out at more than 440 million a year, or 8.83+ billion since 1994. If you look further afield the story is much the same. All over the world groups of people are coming together and sharing the communal spirit that comes from joining a syndicate. Lottery syndicates are one of the most effective and popular ways of betting on lotteries. That is why we ve compiled this free guide to show you how easy it is to start your own lottery syndicate. You ll also find a special lottery syndicate agreement template that you can use to set up your own lotto syndicate today! Benefits Of Lottery Syndicates Lottery syndicates increase your odds of winning while splitting the cost of betting with each syndicate member. Not only do you share in the wins, as a syndicate member you also share in the sense of camaraderie that comes with working towards a shared goal and, of course, the chance to win the world s biggest lottery jackpots. One fifth of all lottery wins are by syndicates Betting with Lottoland.co.uk gives you all of this and more. More security, more convenience, more options, more flexibility, more ways to win and, of course, all the world s best lotteries in one place. 3
How To Bet As A Syndicate With Lottoland Setting up your own lottery syndicate is easy and can be done in three simple steps. First, gather together a group of like-minded lottery buffs. How many is really up to you; syndicates can be as large or as small as you want. Winning syndicates in the past have ranged from small family syndicates to entire company divisions. It doesn t really matter who is in your syndicate, either, provided they are over 18 years old and are serious about committing to the lottery syndicate The next step is to select or nominate a Syndicate Manager. This is the person whose responsibility it will be to collect the money from all syndicate members every week and then bet on the lottery on their behalf. You will therefore need to ensure your choice of Syndicate Manager is someone who is trustworthy, punctual and very well organised. Step three, and this is a critical step that sadly many often skip, is to create your lottery syndicate agreement. This document is, in essence, a contract between all syndicate members which defines each member s role, how much is paid, how winnings are shared and so on. How To Bet As A Syndicate With Lottoland Let s face it, tickets are a hassle you have to go out to buy them, sometimes when the shops are really busy. They can be lost, stolen or damaged resulting in lots of stress and tears. Checking numbers is also a pain, and an unnecessary one at that. Why bother wasting time with any of that when you can just do it all automatically? Betting as a syndicate online with Lottoland is easy. To start your lotto syndicate s journey simply follow these three steps: 1 2 3 Once all members have joined and signed the agreement the Syndicate Manager needs to register an account at Lottoland.co.uk When the money has been collected from all members the Syndicate Manager then bets on the lotto(s) of choice on the syndicate s behalf. Any winnings will then be credited to the Syndicate Manager s Lottoland account, which can then be withdrawn to his/her bank account to be split between each member. 4
Why You Need A Lottery Syndicate Contract It s a story as old as time itself; friendships ruined over disputes about money. And since we re talking about the lottery here, we re talking about a whole lot of money, so all the more reason to take precautions. Everything comes with terms and conditions these days and your lotto syndicate should be no exception. Having a Lottery Syndicate Agreement will ensure the syndicate s operations run smoothly and protect it from any disputes which may arise. Ensure the syndicate s operations run smoothly Lottery Syndicate Agreement Form On the next page you will find a sample agreement template that you can use to help you in forming your own lottery syndicate. You can use it as a guide when setting up your own agreement. Indeed since every group and every situation is different you may well want to add additional clauses of your own. Our advice is to be as clear and concise yet comprehensive as possible to ensure all eventualities are covered and that all parties fully understand their duties and fully comprehend the terms of the agreement. Please note that this template is supplied as-is and should not be considered legally binding. Lottoland accepts no responsibility for any disputes which may arise as a result of this document s use. If you have any specific questions on forming a legally binding agreement we urge you to first discuss it with a legal professional. 5
LOTTERY SYNDICATE FORM Syndicate Name Syndicate Manager Name Deputy Syndicate Manager Commencement Date Date Of Termination (if desired) Syndicate Members MEMBER NAME CONTRIBUTION (PER DRAW) SHARE OF WINNINGS SIGNED DATE 1 2 3 4 5 6 7 8 9 10 PAGE 1 - LOTTERY SYNDICATE FORM FREE TEMPLATE
Clauses This is where you specify what happens in the event of specific circumstances in order to alleviate any reasons for dispute. Dates/Draws: Procedure Relating to Collection: In the event that one or more people fails to make payment before the agreed cut-off time. Procedure for when someone wishes to leave the syndicate Procedure for when someone wishes to join the syndicate PAGE 2 - LOTTERY SYNDICATE FORM FREE TEMPLATE