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How to Run a Lottery Syndicate
Whether you play with workmates, friends or family, it's always more exciting playing in a group. The more lines your group buys, the more entries you have in each game, and the more chances you have of winning.
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.
Your agreement should cover the following:
-The date the agreement was drawn up
-The appointed manager's name
-The names of the group members
-Games and numbers played by the Syndicate
-Which draws you will enter
-How much each member will pay per draw and how you will split any winnings
-What happens if a member fails to pay their contribution at any time
-If the group has a enormous win, how the members will decide whether or not they want publicity
You must then put in place the method of collecting the money, e.g. Standing order or Cash payments and include in the agreement what to do in the event of a win and there being outstanding payments due from a member.
The agreement must be signed and dated by each group member and should be witnessed by, I suggest, a solicitor, doctor or somebody of similar standing.
If the group changes, the agreement should be amended to reflect this or a new agreement drawn up alltogether.
It is necessary to hold everyone in the group involved and motivated. You can do this by communicating regularly with your members to encourage their involvement. Make sure that all your members are aware of any wins.
Being a lottery syndicate manager is a lot of work and carries a worthy deal of responsibility. For example, it will be your responsibility to ensure tickets are purchased according to the agreement. What happens if you're unable to purchase them for that week. Sod's law is that it will be that week that you have a win.
Article Source: http://www.articlesnatch.com
About the Author:
Trevor Nicholls is a Group Affiliate for Virtual World Direct. He offers the chance to join an online lottery syndicate at www.v-w-d.com/tnichs
His Blog can be viewed at lotterywinners.blogspot.com
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