National Lottery Syndicate - Lotto Syndicate Manger Tool -
Lottery Syndicate Manager Tool
Playing in a national lottery
syndicate
It would be fun to play the National Lottery in a syndicate where you all pay an equal amount each week and all win an equal share of any prizes you may receive. This can increase your chances of winning.
Groups can be made up of friends, family or work colleagues. It's a great way of playing UK National Lottery and by following a few simple guidelines play should be easy and enjoyable.
Starting your National Lottery Syndicate
If you are planning on running a syndicate there are some simple rules that you should follow before starting to play as a group. Firstly you should decide who is going to be in the syndicate along with the amount that each will pay and the percentage of any winnings each will receive. It is important to appoint a syndicate manager, you may also with to appoint a deputy for when the syndicate manager is on holiday. The manager
will be responsible for running the syndicate. This includes the collection of payment each week from the members, the purchase of the tickets and the division of any winnings. It is
important that the manager are trusted by all members.
National Lottery Syndicate Group Agreement:
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. We suggest that the agreement should include the following:
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The date the agreement was drawn up.
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The names of the group members.
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The managers names.
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How the numbers will be selected.
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How much each member will pay per draw and what percentage of any winnings each will receive.
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What happens if a member fails to pay their contribution at any time.
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Should the group have a big win, how the members will decide on publicity.
The Importance of a National
Lottery Syndicate Agreement:
As any prizes are only payable to a single person (normally the syndicate manager) it is
important that the syndicate have a written agreement before playing as a group in order to avoid Inheritance Tax on the winnings given to each other member.
The agreement must be signed and dated by each group member and should be witnessed by, we suggest, a solicitor, doctor or someone of similar standing.
If the group changes a new agreement should be drawn up. Copies should be given to each member and the original kept in a safe place.
Collecting Money from the Group in a lottery syndicate
Whether members pay their money for each draw or in advance, a record should be kept of who's paid what so everybody knows where they stand. Remember it is a good idea to decide what you are going to do if one of the members of the group can't pay for a particular draw, just in case the situation arises.
Buying the Tickets in a national lottery syndicate:
The manager will be responsible for purchasing the tickets
Look out for the Winning Numbers
Remember also, winnings should be collected by your manager and shared out according to your group agreement.
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