How Do You Set up a Lottery Syndicate?

How Do You Set up a Lottery Syndicate?

Decide which game you are going to play and the people you are going to invite into the syndicate. Set up an agreement with all the players specifying when members must pay and when winnings are to be paid back to them. Keep careful track of all monies so no discrepancies arise.

  1. Choose and game and collect a group of players

    Advertise among friends, coworkers or neighbors to find people who are interested in playing the lottery with you. Choose whether to limit the size of the group, but remember that the more people who contribute, the more chance you have of a significant win.

  2. Set up a tracking system

    Download or create a spreadsheet or worksheet that allows you to keep track of who has paid, how much they paid, what winnings have accumulated and how much money has been paid out to whom. Whether this is simple or complicated depends on how large your group is and how often you buy tickets.

  3. Communicate with the group

    Talk to the members frequently to let them know about any winnings. Contact them about when money is due and how much the jackpots are for each game. Keeping in contact also makes members more likely to stay excited about the group and willing to pay their required share.

  4. Have fun

    Remember, this is supposed to be enjoyable, so if you get overwhelmed with keeping track of money and members, do not hesitate to ask for help from others. If members drop out, let them go without hard feelings, and recruit more members if the group agrees.