Congratulations on becoming a Super Admin. We don’t give out Super Admin badges easily and the fact that you have received yours means that you have consistently and successfully managed your Syndicate over 12 months. As well as receiving a special badge on your Dashboard, you can now also start an open Syndicate, or change an existing Syndicate from private to open.
What is an open Syndicate? An open Syndicate is one which will be made available on the website for anyone from anywhere to join, rather than having to specify individuals members. Visitors to the website can view the open Syndicates looking for new members and choose to join one they like. This helps provide a way in which an individual can participate at a lower cost, without having to manage a Syndicate of their own.
There is no limit to how many open Syndicates you can start as long as you can successfully manage each one.
You can also specify the minimum and maximum number of members. When the Syndicate goes below the maximum, it appears on the website as being free for another member to join. When it reaches the maximum it becomes “closed” until a member leaves.
To start an open Syndicate you can go to the home page and click on Administration in the top menu and then “Create a New Syndicate”. Now that you are a Super Admin, you will have the option of selecting “Open” in the Membership type field. Selecting “Open” will give you more fields to help manage your new Syndicate. By default, all open Syndicates will operate on a shared cost basis and any share of winnings below $1000.00 will be added to member balances.
If you haven’t already got one, you will also need to create a special bank account for member deposits and for keeping Syndicate money. You can add instructions on your Syndicate details as to how members can pay their contributions (including bank account details).
Once started, the open Syndicate will appear on the Open Syndicates showcase page for visitors to join. You can also invite specific people to join the open Syndicate by going to the Add Members option in your Syndicate Administration menu.
To attract new members, make sure you provide a good description of what your Syndicate is about, including any special strategies you might have.
Good luck!