Anyone here run a lottery syndicate?

meer53

Do it online, then there's always a record of whats been paid out. No-one can dispute where their money has gone. Plus you get an email if you win. There's also a syndicate agreement form you can print off and everyone can sign.

Too risky for me to arrange it without standing orders from all the members of our syndicate. Then there's no problem with people not paying. I have a separate savings account for all the credits and the debits for the tickets.

sutty86

http://www.syndicatetool.com/

i use this site fantastic and free also
i have 6 in my syndicate and play all lottos
if you dont pay your not in

vegasvisitor

We had a syndicate in a previous department I worked in and I brought up the subject of a syndicate agreement and people had very different opinions on it. Most were ok about it but some people made remarks about it. A few encouraged me to draw up a simple one. It was passed around and partially signed then mysteriously went missing. Very shortly afterwards the syndicate was stopped. Rather odd.

I'm in one again now in a new department, but being new I forgot to ask if there was an agreement. I've never heard if there is, but I'm a bit afraid of asking now given the reaction in a previous team.

Own_My_Own

I ran one for a short time in my old job.

Everyone paid cash 4 weeks in advance. So I had a little leeway in collecting the money.

Lucky dips DO NOT WORK. As everyone wants to know what the numbers are.

All small wins were saved up until Dec, like a mini Christmas Club.

We never won big , so I can't comment on that.

Jhey

sutty86 wrote: »

i use this site fantastic and free also
i have 6 in my syndicate and play all lottos
if you dont pay your not in

Do you believe if you win a Big prize you go to receive the money ????

eliviajen

We have a syndicate at work - just 6 of us.

We have a PROPERLY signed and witnessed agreement in place (on NATIONAL LOTTERY provided paperwork) - this is ESSENTIAL or else the ticket holder is the winner and then effectively gifting winnings over - which results in it being TAXABLE!! Eeeek!

We have to pay the week prior.. although I am ALWAYS a bit forgetful in every aspect of my life - but i normally manage to get the £1 in before the tickets (of our chosen numbers) get bought. Apparently if i didnt get my money in on time and we won, it would then go the other syndicate members to make a descision on whether I was entitled to my share...

We get our share of any winnings on the weekend prior to Christmas - unfortuantly this includes the BIG ONE apparently as thats what the paperwork says!

1sttimer_2

I do the syndicate at work. There are 6 of us paying for 13 lines both Saturday at Wednesday. When lottery first started there were 13 players, Saturday only. As people left/joined we decided to keep the same numbers and then decided to do the Wednesday draw when that started. We pay £3.67 each per week (one week in advance) with an annual winnings payout just before Christmas, unless we win over £1000 then that win gets divided up immediately. Money comes directly out of wages each week and we have a signed syndicate agreement which was taken from the lottery pages online.

If a person leaves, then I work out what each person was entitled to up to that point, then give the leaver what was owed and the remaining syndicate players kept theirs in the 'drawer' till Christmas. If we get a new person joining, then the collected winnings are worked out per person and any new winnings added to that amount till Christmas with the new person just getting any new winnings from his joining date.

You have to remember to change the syndicate agreement each time a person leaves/joins and it is re-signed by everyone and countersigned by a non-player. Each participant gets a copy.

The winning numbers/amounts won are kept on an excel spreadsheet for anyone to look at. They all trust me to do it right, and as I've never had a problem I must be doing ok!

Antispam

RajinikumarRai :spam:

Benzade

Hi Hootie19 there have been some very good ideas posted here regarding running your works lottery syndicate. One thing I’d like to add is to get it in writing which days, draws and how much stake each person must pay each week to play, and refuse to deal with the practice of “chucking in a quid each” to informally play any draws in other lotteries to chase a high jackpot.

A major bug bear at our work place during my time in our lottery syndicate was a certain member who was also the syndicate manager would besides running the agreed upon Saturday night National Lottery draw also be constantly scouring the various lotteries looking for big jackpots. He would then pester the various syndicate members either in person or via text if they were “chucking in” or not. He even started to put his own money on other lotteries without conformation from members if they hadn’t managed/bothered to contact him back in time then demand the stake money from them afterwards.
Needless to say it wasn’t long before the job of syndicate manager was taken from him as we all soon got fed up of hearing “There’s a rollover on such a such lottery tonight, are you chucking in a/two quid?”

This simple rule of sticking to what lottery you have all decided to play means that costs do not spiral out of control and it spares the blushes of those members who are on a budget and cannot afford to be throwing anywhere in the region of £5 upwards away on lottery tickets each week. But more importantly you as the syndicate manager will not lose track of who paid what and when into which lottery draws when the time to split the winnings comes around.

dazzler1009

Has anyone used the following website syndicatetool dot com it claims to help manage your Lottery syndicate. I'm the manager of a syndicate at work and currently collect money each week and buy tickets and have to check the tickets weekly.

I am looking at doing it all online and get everyone to pay into an account using standing order. The issue there is that no banks do bank accounts specifically for lottery syndicates anymore, due to account holders not keeping any money in the account for any length of time. Plus I don't really want the hassle, or responsibility of opening a basic current account in my name, plus if 'when' we win a huge amount there is the issue of tax!

So I did some searches on the internet and I found syndicatetool dot com that says that it helps you to manage the syndicate, buys lottery tickets for you and if you win it shares the winnings equally between all those that paid that week.

Has anyone used this website?? I can't find anyone who has and could do with some feedback as to whether or not its reliable and trustworthy.

Cheers :j

Darren