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Create a Lottery Syndicate
When you play a lottery as a syndicate with friends, family or colleagues you stand a much better chance of winning a prize than as an individual, but you need to formalise a few points before you start to ensure that no problems arise.
Putting rules in place will help protect every member of the group, plus any all-important winnings you might receive. Designating a member as the syndicate “manager” can help the process of playing together run as smoothly as possible. Under National Lottery Game Rules, only one person can receive a prize from a winning ticket, so make sure your syndicate manager is trustworthy and can be expected to pay out winnings in a timely manner. The manager will have various responsibilities, including:
- Keeping the syndicate agreement up to date
- Ensuring that each player has paid for tickets
- Purchasing the tickets and storing them safely (buying lottery tickets online keeps them secure)
- Checking the tickets for any prizes won (buying tickets online means that they are checked automatically)
- Collecting any winnings and distributing them between the participants
It may also be a good idea to have another member of the syndicate check the numbers and results after each draw to help out the manager, make sure nothing is missed and avoid any potential disputes.
Lottery Syndicate Calculator
Use the following calculator to find out how your odds increase in a syndicate and how your prize share will be affected depending on how many tickets are purchased:
What to Include in Your Lottery Syndicate Agreement
Obviously all syndicates are different, but here are some suggestions which you may find useful to add to your own written syndicate agreement:
- The date that the syndicate started
- A list of all the players' names
- The syndicate manager's contact details
- Confirmation of how many tickets will be purchased for each game
- Details of which draws the tickets will be purchased for (for example, a syndicate may agree to play Lotto on Saturday nights only.
- Information on how much each player will contribute and when their stake is due
- The share for each player of any lottery prize that the syndicate wins
- A plan of action if a player fails to pay their stake
- A written agreement from the syndicate manager detailing their obligation to divide winnings between all syndicate members
- Whether or not the group will opt for publicity in the event of a large win
Make sure everyone reads the document thoroughly and signs it. Having an agreement should help avoid any disputes further down the line, leaving you all to enjoy your winnings without any worries!
Draft Syndicate Agreement
The syndicate agreement should be signed and witnessed by each syndicate member.
The draft agreement is purely an informational aid and individuals wanting to setup a syndicate should seek independent legal advice before entering into any written contract. You should adapt the details to suit your own requirements as the clauses contained in the draft agreement are only suggestions. Lottery.co.uk accepts no responsibility for, or any liability of losses from, the use of the draft agreement whether in part or in whole.