Why a Syndicate Agreement?
- Shared Cost Syndicates (Private)
Private Syndicates are those initiated by a friend, family member, co-worker or person known to the member, who invites specific people to join. Shared Cost Syndicates are those where every member pays a contribution to the costs. - Shared Cost Syndicates (Open)
Open Syndicates are started by Super Administrators and are open for anyone to join through the website. Open Syndicates are Shared Cost Syndicates where members pay a contribution to the costs. - Take Turns Syndicates
Take Turns Syndicates are private Syndicates where members take turns to buy tickets.
Shared Cost Syndicate (Private)
Members agree to pay the amount per week to the Syndicate Administrator for entry/entries specified in the Syndicate details.
Members must have enough balance to participate in a next draw. Members with an insufficient balance at the time the tickets are purchased may not be included in that week’s draw(s), and will not be entitled to any winnings from that draw(s). The Syndicate Administrator can choose whether or not to extend credit to members through the Syndicate Settings.
The Syndicate Administrator will buy all tickets in advance of each draw and upload an image of the ticket(s) to the Draw record on the My Lotto Syndicate website as soon as practicable after purchase, but before the draw takes place. This includes any bonus tickets previously won.
The ticket(s) purchased will be as per the Syndicate details on the website.
The Syndicate Administrator may purchase Lotto tickets from an authorised retailer or use their own personal online Lotto account.
The Syndicate Administrator will check the ticket(s) as soon as practicable after the draw(s) and enter any winnings amount on the draw record on the website.
If the Syndicate winning payment option is set to add the winnings to the members’ winning balance, the total winnings will continue to accrue until such a time as either the member requests their winning balance to be paid out to them, or all winning balances are paid to all members on a date agreed to by the members. Members can request their winning balance to be paid out to them at any time.
If the Syndicate winning payment option is set to donate lesser winnings, the Syndicate Administrator will donate the accumulated amount to the designated recipient on a date and/or frequency decided on by the majority of members and/or Syndicate Administrator.
The Syndicate Administrator acknowledges that they have a legal obligation to transfer all winnings directly to members or the general fund for the Syndicate.
If any member wishes to leave the Syndicate, they must express this in writing, in a letter or by email, and include the date they wish to cease their membership. If applicable, they will receive the share of winnings they are owed at the time of their exit and will be refunded any balance remaining on their account. The departing member acknowledges they have no claim on any Syndicate winnings after they have left the Syndicate.
Members may request to have all, or part of their contributions balance refunded to them at any time.
The Syndicate can purchase additional tickets for special draws on a case-by-case basis, subject to the agreement of the majority of members. The Administrator must upload the ticket(s) images for all special draws entered prior to the draw taking place.
All Syndicate members must agree in writing before a decision is taken to go public with any substantial win. Syndicate members also agree not to give details of any significant win to a third party where such disclosure could lead to any Syndicate member, someone in their family or their employer(s) being identified.
A Syndicate Administrator may remove a member from the Syndicate only if the member has requested to be removed, their circumstances have changed so that they no longer fit the description of the Syndicate (e.g. a staff member of a work Syndicate leaves their job), or they have ceased to participate. A member can also be removed if they behave in such a way that is deemed to be inappropriate or detrimental to the Syndicate, in which case, they must be informed in writing first before being removed.
The Syndicate Administrator must not make changes to the Syndicate details once the Syndicate has commenced activities, except by the agreement of the majority of the members.
Shared Cost Syndicate (Open)
Members agree to pay the amount per week to the Syndicate Administrator for entry/entries specified in the Syndicate details.
Members must have enough balance to participate in a next draw. Members with an insufficient balance at the time the tickets are purchased may not be included in that week’s draw(s), and will not be entitled to any winnings from that draw(s). The Syndicate Administrator can choose whether or not to extend credit to members through the Syndicate Settings.
The Syndicate Administrator will buy all tickets in advance of each draw and upload an image of the ticket(s) to the Draw record on the My Lotto Syndicate website as soon as practicable after purchase, but before the draw takes place. This includes any bonus tickets previously won.
The ticket(s) purchased will be as per the Syndicate details on the website. However, if membership numbers fall below the maximum for the Syndicate, the Syndicate Administrator, may, at their discretion, purchase tickets at a lower value or of a different type until such time as the maximum number of Syndicate members is obtained.
The Syndicate Administrator may purchase Lotto tickets from an authorised retailer or use their own personal online Lotto account.
The Syndicate Administrator will check the ticket(s) as soon as practicable after the draw(s) and enter any winnings amount on the draw record on the website.
The Syndicate Administrator will transfer all winnings directly to members when a win results in member’s share that is above NZ$1000. Any lesser winnings are accumulated against member’s balance and the money deposited into a Syndicate bank account.
Members may at any time request part of their balance to be paid to them, providing there is sufficient balance remaining to pay for entry in the next draw. These requests must not be made more than twice in a calendar year.
If any member wishes to leave the Syndicate, they must express this by email, and include the date they wish to cease their membership. They will receive a refund of any remaining balance as at the time of their exit. The departing member acknowledges they have no claim on any Syndicate winnings after they leave the Syndicate.
All Syndicate members must agree in writing before a decision is taken to go public with any substantial win. Syndicate members also agree not to give details of any significant win to a third party where such disclosure could lead to the identification of any Syndicate member.
A Syndicate Administrator may remove a member from the Syndicate only if the member has requested to be removed, they have ceased to participate or they are in breach of this Syndicate agreement. The member will be notified by email and any remaining balances at the time of removal will be paid to the member. The removed member will have no claim on any Syndicate winnings after they are removed from the Syndicate.
If the number of Syndicate members falls below the minimum required as set by the Administrator, the Syndicate Administrator may at their discretion decide to end the Syndicate. The Syndicate Administrator will advise all members of their decision and of the date the Syndicate will cease. Any and all remaining member balances will be paid out to members on or before the end date.
Taking Turns Syndicate
Members agree to take a turn at purchasing a ticket(s) for the value specified in the Syndicate details, for the Ticket Type specified in the Syndicate details.
All members are entitled to an equal share of the the winnings regardless of which member purchased the ticket(s).
The Purchaser will buy all tickets in advance of each draw and upload an image of the ticket(s) to the Draw record on the My Lotto Syndicate website as soon as practicable after purchase, but before the draw has taken place.
The Purchaser will check the ticket(s) as soon as practicable after the draw(s) and enter any winnings amount on the draw record on the website.
If the Syndicate has chosen to accumulate winnings to be paid out to members, or to a beneficiary, the Syndicate Administrator will open and manage a bank account or securely store all lesser winnings gained by the Syndicate. All lesser winnings (those below the winning threshold) are to be claimed and deposited into this account by the Purchaser of the ticket.
If the amount of a win exceeds the single win threshold, the amount of the win is to be divided out equally by the number of Syndicate Members, and paid out to each member as soon as practicable by the Administrator or the Purchaser of the ticket.
If the Syndicate winning payment option is set to add the winnings to the members’ winning balance, the total winnings will continue to accrue until such a time as either the member requests their winning balance to be paid out to them, or all winning balances are paid to all members on a date agreed to by the members. Members can request their winning balance to be paid out to them at any time.
If any member wishes to leave the Syndicate, they must express this in writing, in a letter or by email, and include the date they wish to cease their membership. If applicable, they will receive the share of winnings they are owed at the time of their exit and any winnings from this point on will be distributed to the remaining Syndicate members. The departing member acknowledges they have no claim on any Syndicate winnings after they have left the Syndicate.
The Purchaser can purchase additional tickets on behalf of the Syndicate for special draws on a case-by-case basis, subject to the agreement of the majority of members. The Purchaser must upload an image of the ticket(s) to the Draw record on the My Lotto Syndicate website as soon as practicable after purchase.
All Syndicate members must agree in writing before a decision is taken to go public with any substantial win. Syndicate members also agree not to give details of any significant win to a third party where such disclosure could lead to any Syndicate member, someone in their family or their employer(s) being identified.
A Syndicate Administrator may remove a member from the Syndicate only if the member has requested to be removed, their circumstances have changed so that they no longer fit the description of the Syndicate (e.g. a staff member of a work Syndicate leaves their job), or they have ceased to participate. A member can also be removed if they behave in such a way that is deemed to be inappropriate or detrimental to the Syndicate, in which case, they must be informed in writing first before being removed.
All Syndicate members must give permission before a Syndicate is made Inactive.
The Syndicate Administrator must not make changes to the Syndicate details once the Syndicate has commenced activities, except by the agreement by the majority of the members.