Lottery Syndicate Agreement Form
Your free easy downloadable Syndicate Agreement Form is here! Don’t know what a syndicate is? No worries, stick with us and we’ll explain everything…
So, you’re looking around the internet trying to find out what a syndicate is. Lucky for you we have the information you need to know why a syndicate is beneficial to you and why it is way more convenient than playing alone.
What is a lottery syndicate?
A lottery syndicate is a group of players who come together to purchase lottery tickets collectively and share any winnings that occur. Winnings can be shared depending on the amount a member has contributed towards the tickets. There is also more chances of winning, in fact, 1 in 5 jackpots are actually won by syndicates!
Why is a lottery syndicate agreement form important?
A Lottery Syndicate agreement form ensures that the newly created syndicate runs as smoothly as possible, whilst also protecting all members from any disputes that may arise. Think of it like a receipt, proof of purchase, it’s there to help make everything crystal clear for who is involved in the syndicate as well as contributions per draw and the share of winnings from the total jackpot.
This form will help to prevent any problems in the future. For instance, if you win the jackpot, there is a chance that your syndicate manager changes his mind to sacrifice friendship over money. It will be incredibly hard for you to get your share of the jackpot if you have no syndicate agreement.
Syndicate Manager Responsibilities
Members within the syndicate need to vote for a manager that oversees the operations of the syndicate, ensuring everything runs smoothly. The syndicate manager will be responsible for collecting money, purchasing lottery tickets and ensuring that the syndicate agreement form is up to date with new members signing on or leaving the agreement. If you happen to win the jackpot, then the manager will have the task of equally distributing the prize.
Super Syndicate tip: Jason Kurland, a famous US attorney representing lottery winners states that you should scan all purchased lottery tickets and send them to all members of the syndicate by email. This would act as a method of insurance, and prevent any arguments as well as losing friends in the event of a win.
How to set up your lottery syndicate
Creating your own Lottery Syndicate is easy and can be done in 3 steps!
Step 1: First, you will need to gather like-minded lottery goers. A good place to start would be at work, ask a few friends or even have your own family syndicate. There’s plenty of ways to get going! It doesn’t matter who is in your syndicate, but it would be good if they are committed as you in winning the jackpot, ensuring they are 16 years old of course.
Step 2: This step consists of voting for your syndicate manager. As mentioned previously, the syndicate manager is responsible for overseeing a smooth operation. Being responsible for collecting money, purchasing lottery tickets and ensuring that the syndicate agreement form is up to date for when new members join/leave the agreement. If you are lucky enough to win the jackpot, then the manager will have the privilege of ensuring the prize money is distributed equally.
A syndicate manager should have the following traits:
Step 3: Now, this step is the most important of all. Create your lottery syndicate agreement. This agreement will be your log for who joined/left the syndicate, how much is contributed per draw and how the jackpot is shared amongst members.
Are there any drawbacks?
If you don’t mind sharing a few million amongst your syndicate, then no, not really. The main reason for playing in a syndicate is to increase your chances of winning than you normally would have if you played alone.
Here’s an equation…More Tickets x More Players = More chances of winning!
The more the merrier! Be sure to invite as many players as possible as this will increase your chances of winning the jackpot! Good luck.
Example of how a lottery syndicate works
Picture this, the EuroMillions jackpot is at an all time high of £100 million. Your 10 coworkers are in a lottery syndicate and buy 10 lines each, representing 100 lines all together with each member entitled to a 10% share.
Jackpot! You win and one of your tickets is a match to the live draw. Your syndicate has won the jackpot of £100 million. With each member having a 10% share they will be entitled to £10 million each.
Let’s add some perspective, if you had bought 10 tickets without playing in your lottery syndicate, then the chances of winning would have been a 90% difference. Huge shift, don’t you think? – Playing together is better.
Want to play in a syndicate but can’t find players?
Playing in a Lottery Syndicate online is hassle free. Why wait in line at shops to get your lottery tickets when instead you can get them in a few clicks online, it can be incredibly annoying when shops are really busy too. Playing the standard way also gives the syndicate manager quite the task each week to go out and buy their tickets and have the vulnerability of being damaged, stolen or even lost which could result in a lot of stress for your syndicate.
So if you want to avoid this, you can play in a syndicate at Lotto Social. We take care of everything, from purchasing the lottery tickets, to taking payment from the syndicate players. Lotto Social also offers so much more than just lottery tickets:
– Check your winnings. We check your winnings with one easy click, no more searching for lost tickets!
– Instant Win Games. Win up to £7K on Instant Win games plus more cash prizes on skill games.
– Never miss a draw. We make sure you never miss your favourite lottery draw again.
– Help local charities. Donate reward points to vote for your Charity Of The Month.
We provide all of this, so all you need to focus on, is enjoying your lottery experience.
Your Syndicate Form
Below, you can find your printable lottery syndicate form along with other formats that are easy and quick to complete. Get your group together and begin your lottery journey now, and remember, Playing Together Is Better. Good luck!