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if you don’t get the basics right it will be hard work, and you can end up in a whole heap of a mess! do you have to register a syndicate? one of the simplest methods is to set up a basic spreadsheet in excel/openoffice. once you’ve set up your syndicate this way you can put an ‘x’ or a ‘1’ in the cells for the relevant name and draw dates when people pay you. this is the one formal part of running a syndicate that really deserves more attention than it tends to get. you may want to specify from the start that everyone pays a month in advance for example to minimise your leg work.
it may help to reassure them that it’s only a small amount per person, and you don’t profit in any way. or are you going to apply a bit more science to your syndicate? one great way to add a chunk of extra fun to your group is to use part of your stake money to pay for membership of another lottery syndicate! but they can also just take over and run the group once in a while to give you a break. just set up a simple process to handle it, such as this for example:- if you want to be really cautious you can get people to sign a copy of their confirmation of leaving document too. but get your leavers and existing members to help you out with that.
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