Anyone here run a lottery syndicate?

Hootie19

I have been "voted" to take over the running of the work's lottery syndicate. The previous syndicate leader was a bit "wishy washy" and the agreement only stated that there are X number of syndicate members and that winnings are split equally.

I said when I agreed to take over the leadership, that

(a) it was the individual's responsibility to make sure that their contribution reaches me in time

(b) that I would send out one email only, once a month, telling each individual members the minimum amount I need from them

(c) that I would not put money in for someone if they didn't pay in time

and

(d) that as far as I was concerned, "you don't pay, you don't play".

This is the first month that I have collected the money, and as we have a couple of people who are in a different office building to us (in a different town), and because I haven't drawn up a new agreement yet, I broke my own rule (c), and put the money in for a couple of people this month.

I bought a month's worth of tickets - we play Wednesdays and Saturdays - and of course, typically, one person from the other building has emailed me today to say that they want to drop out of the syndicate.

My own fault. I know I should have stuck to my own rules. :mad:

The way the agreement was drawn up previously was that our winnings would be collected by the leader and kept until there was a "reasonable" jackpot on the EuroMillions, and we would play "an amount to be agreed at the time" on the Euro.

Waaaaaaay too "floopy" for my liking lol

But I don't really know what to suggest as a better alternative.

Does anyone here run a syndicate, and would be prepared to share their syndicate's agreement with me, to give me some ideas as to how to proceed please?

I need to know how to apportion all winnings, big or small. Obviously if we scoop a biggie, in an ideal world, we would share it equally, but I am thinking more if we win, say £80 or so, for 4 numbers, and someone hasn't paid up in time. How do you deal with that when it comes to putting the winnings onto the Euros. Obviously, if the rule "you don't pay, you don't play" is enforced, then that person really shouldn't participate in the "investment" of the winnings onto the Euros, and then obviously shouldn't get a share of anything won on those. But I can't see how to word any agreement to that effect, and how enforceable it would be.

I am already kind of regretting taking it over, but I'm sure once the agreement is in place, it'll be ok. Won't it?? :rotfl:

Justicia

I was in a similar situation that you found yourself in a few years ago - due to organisational skills, it was suggested that I start one.

My response? No thanks! :rotfl:

I_wanna_live_for_free

We do the Euro lottery at work "when it's worth winning"

Strictly on a pay up or you're not included basis. It means that people have a buddy who'll put in for them, or we know they'll want to enter and have £2 in their pen pot etc, if they're not in work that week etc but the organiser will only buy sufficient tickets as people have paid, and does not under any circumstances put in herself for absentees.

Hope that makes sense!

Sambucus_Nigra

There is a sample agreement on the national lottery website.

Personally, I'd either have it written in stone and all agreed upfront [and never put in for someone else] or don't touch it with a bargepole. If you now put in for someone who has pulled out, and you won - they could happily give you £1 and waltz off with a share - and if you don't win then you have wasted your £1. Either they are in at the time of the draw or not. You need to stick to that like glue.

cottonhead

I wouldnt want the responsibility of what would happen if you really did win big tim !! Imagine the one or two people who didnt put in a pound. Would you really be happy to watch them carry on at work whilst you live a luxury lifestyle. I think we never think it will happen to us. Anyway yes there is a template from the national lottery and I guess to save any disoutes thats probably the safest one to go with. Good luck by the way !

pimento

I run a small one (there are six of us) and we play eight weeks at a time, Saturday only. No pay no play is my big rule but the one time I did take someone's numbers out because he hadn't paid (he was on leave but I figured that was his problem, he knew we played every eight weeks, I'd sent him an email reminding him and he had his BlackBerry on so...) he created merry hell saying that just because he hadn't paid that didn't mean he wasn't still a part of the syndicate.
The other five backed me up and I ended up disbanding the syndicate and making a new one without him. No problems since.

One of our players is in Canada and pays me by PayPal and one works in another building and I get a bank transfer from him.

It runs OK apart from the fact that we're not millionaires yet.

meer53

I run ours at work. I used the syndicate agreement on the Lottery website and everyone (there are 10 of us) set up a standing order into my savings account weekly. There are no issues with non payment and the winnings will be split evenly if we have a big win. If it's a huge rollover, i text them all to let them know i have put extra lucky dips on for that night, no-one ever objects! We've just left the winnings so far in the account, there's not enough to divvi up just yet ! We've been doing it for about 4 years now, we put 10 lines on Weds and 10 on Sat. The most we've ever won is £64 !

The only way to run a syndicate is to get people to commit to a regular payment, there is NO WAY i would do it if people were handing me a quid a week !

geoffky

Friends of mine won 1.4m in a syndicate at the local pub they got around 200k each and it changed a few lifes for the better as a few had struggled..

chrissie57

I run mine - about a dozen people at the moment.

ONLY people who work on site can participate (had a couple who left who wanted to carry on but then never produced any money:mad:)

The rule is one pound per person per week, paid weekly or monthly as wished. Lucky dips only, no one can choose their numbers. As manager I will put in one week if absence was not foreseen. We share out once a year, pending the big one:rotfl:

vesper

I run a small one of 6 of us at the Sports club I run. Luckily we only play once a week on a saturday so it's pretty simple.
But they know that if they don't pay by friday night they aren't in it. I will put the pound in if someone is genuinely absent through illness of something. The money gets split up equally the monday before xmas day as a little bonus, however it's usually so small it's not worth it and we spend it on scratch cards, any winnings from that goes in the pot.

However I would never do a bigger synicate. Our's used to be much bigger until we threw a load out as they weren't paying. It still gets difficult sometimes, they all ended up argueing as one of our member's died and they were moaning about how it wouldn't be fair anymore. So the winning's went to buy him a memorial instead.

As I'm a glutten for punishment I run the bonus ball for our place as well. Much more interesting.

basill

meer53 wrote: »

everyone (there are 10 of us) set up a standing order into my savings account weekly.

The only way to run a syndicate is to get people to commit to a regular payment, there is NO WAY i would do it if people were handing me a quid a week !

We do this as well, members set up a standing order of £1/week into my bank account and we play using a subscription on the Lottery website. We save all minor winnings until there is enough for a curry, beer and a few scratchies. So far about once every 3 years!

Its all automatic so no chasing subs and better for me, no running to the shop and checking tickets required.

Having collected bonus ball and lottery syndicate money the old fashioned way and experienced numerous problems with missing subs I would not go back to collecting cash now.


B