Rotary Club of Aberdeen Balgownie
The Rules of the Lottery Syndicate
I have devised a lottery programme with some minor alterations to spin out the pleasure of playing and to add some funds for the General & Charity Accounts.
For such an undertaking I have had to make up some rules for your sake and for mine. Basically, we put in anything from £20 to whatever we want and every week that the lottery prize is over £10 million we spend 5 % of the initial Kitty total on lottery tickets selected by the lucky dip method. An email is then sent to all the members of the syndicate (before the draw) showing
and also advising that the Club Website has been updated with graphics of tickets and an up to date analysis of the state of play to date.
The winnings are divided out according to how many shares you put in and a small commission is given to our Charity Account and our General account from the winnings. The Opening Balance is the total amount of money that the syndicate raises to buy lottery tickets with initially though new holders can be added at any time.
Only difference between this and the normal syndicate is that each member of the syndicate does not have to spend multiples of £1 each week. ie each syndicate members stake will stretch for at least 10 - 30 draws.
1. Aim – To raise money for the 2 accounts and give members of the syndicate some fun at the same time.
2. Beneficiaries – Aberdeen Balgownie Rotary Charity A/c, the Aberdeen Balgownie General Account and syndicate members.
3. All participants will be sent an email before a draw. If a shareholder does not have email then another shareholder can let him see state of play by printing off a copy. Also, all details except analysis of shareholding can be viewed on the Club Website. Analysis of shareholding changes will be sent by email attachment to all shareholders when changes (eg additions to number of shares allocated, are made.)
4. Tickets are bought for every draw (Lotto and Eurodraw) where the lottery prize fund equals or exceeds £10 million. Where the prize fund is under 10 million that draw is skipped and no tickets are purchased.
5. 5% of the original Kitty is spent to buy lottery and/or Eurolottery tickets. This is to spin out the fun. It is anticipated that this scheme is unlikely to make you rich. But then on the other hand . . . . .
6. Each time tickets are purchased all those with email access will get an update. The Club Website will also be updated - showing total spent so far, a graphic copy of current ticket, totals of how much we have won, how much we are holding in shares etc etc. before the draw takes place.
7. Any Rotarian or non-rotarian not in our Club can come onboard at any time. His/her addition can be seen in the list of shareholders – all before the draw takes place. Only after all shareholders have been advised of a new shareholding does the new member (or increased shareholding by member) enjoy any benefits.
8. If a member wants to leave then its tough luck - no refunds.
9. If a shareholding member dies then his/her share of winnings right up to the last draw when the Kitty finally is emptied, goes to his/her estate.
10. All winnings distributed according to number of shares each Rotarian has.
11. Winnings will be disributed as follows. First claim on jackpot is commission to both Accounts. Remainder then divided according table below
12. If we win big time, all winnings to be paid into a new bank account set up for that purpose. After the cheques for syndicate members are written and cashed, the account to be closed.
13. All ticket numbers to be selected by lucky draw method.
14. Play continues until the Kitty is less than £1 - in which case the remaining Kitty Balance is given to Charity A/c and game is restarted.
15. All winners agree to publicity.
16. Beneficiaries are Aberdeen Balgownie Rotary Charity Account and and the Rotary Club of Aberdeen Balgownie General Account.
17. A J West derives no benefit other than that enjoyed by all the shareholders.
18. The only costs incurred by the syndicate is the cost of purchasing the lottery tickets.
19. Membership of the syndicate means acceptance of all conditions.
20. Decision of A J West in any dispute is final.
22nd May 2012
All fields are required.