A popular way for many people to play the lottery is to band together and form a syndicate.
United Kingdom of Great Britain & N. Ireland (Press Release) October 28, 2007 --
A popular way for many people to play the lottery is to band together and form a syndicate. It sounds easy but it can be a minefield in the event of a considerable win no matter how good the syndicate members intentions are. Things can quickly go wrong.
To avoid any possible disputes or law suits should your lottery syndicate hit the jackpot it is recommended that you draw up a syndicate agreement which sets out the rules of your syndicate. Every member signs the agreement and abides by it. Think of a syndicate agreement as a form of mutual protection.
Your syndicate agreement does not have to be a complex document. What follows are a few straightforward suggestions and pointers of how you may put together a suitable agreement for your lottery syndicate.
It is suggested that your agreement covers the following items. Make sure your agreement covers the following: The date the agreement was drawn up, the appointed manager's name, the names of the members of the group, the games and numbers to be played, which draws will be entered, how much each member will pay per draw, how any winnings will be split, what happens if a member fails to pay their contribution at any time, if the group has a big win, whether the members will take publicity or not
Once complete you should ensure that the syndicate agreement is signed and dated by each group member and should be ideally be independently witnessed. File the original agreement in a safe place giving a copy to each syndicate member.
Then it is simply a case of entering your numbers hoping for the best then sharing out any winnings in accordance with your syndicate agreement.
People have been friends for years but fallen out over lottery wins, bingo wins and similar where one party has alleged the other has promised to share any winnings. This can be a legal nightmare.
Entering the lottery with a syndicate can be fun and help you to dream about hitting the big one and not having to return to work after the weekend but it is essential to draw up a robust syndicate agreement to prevent any complications should that day ever arrive.
Free ebook shows how you can increase your chances of a UK National Lottery jackpot by 702%. Visit http://www.playlotteryfree.com for details.
To avoid any possible disputes or law suits should your lottery syndicate hit the jackpot it is recommended that you draw up a syndicate agreement which sets out the rules of your syndicate. Every member signs the agreement and abides by it. Think of a syndicate agreement as a form of mutual protection.
Your syndicate agreement does not have to be a complex document. What follows are a few straightforward suggestions and pointers of how you may put together a suitable agreement for your lottery syndicate.
It is suggested that your agreement covers the following items. Make sure your agreement covers the following: The date the agreement was drawn up, the appointed manager's name, the names of the members of the group, the games and numbers to be played, which draws will be entered, how much each member will pay per draw, how any winnings will be split, what happens if a member fails to pay their contribution at any time, if the group has a big win, whether the members will take publicity or not
Once complete you should ensure that the syndicate agreement is signed and dated by each group member and should be ideally be independently witnessed. File the original agreement in a safe place giving a copy to each syndicate member.
Then it is simply a case of entering your numbers hoping for the best then sharing out any winnings in accordance with your syndicate agreement.
People have been friends for years but fallen out over lottery wins, bingo wins and similar where one party has alleged the other has promised to share any winnings. This can be a legal nightmare.
Entering the lottery with a syndicate can be fun and help you to dream about hitting the big one and not having to return to work after the weekend but it is essential to draw up a robust syndicate agreement to prevent any complications should that day ever arrive.
Free ebook shows how you can increase your chances of a UK National Lottery jackpot by 702%. Visit http://www.playlotteryfree.com for details.
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