Syndicates are a crowd-funded approach to pooled betting. A group of players combine their funds to create a single ticket for a sport or racing pool. The eventual payout of the ticket, is split proportionately between them based on how much they contributed.
In a Syndicate you have members and a Syndicate owner. The Syndicate owner sets the rules and invites friends to join.
Syndicate Betting has 2 categories for Syndicates
- Syndicate Tipping
- The Syndicate owner gives out tips each week for the syndicate members to bet on
- The members pay a fee to join and receive Tips each week.
- Syndicate Pools
- The Syndicate Owner and its members supply the tips for sports events and the winnings are distributed to the members each month, less the Syndicate owners fee for service.
- This fee is generally a percentage of the total pool winnings.
- Once the percentage is set the Syndicate owner cannot change them.
- Unless changed at the start of a new month
- The member can then decide to stay of leave a Syndicated. The pool is divided each month and paid in to the nominated accounts of each member.
- A monthly payment for the next month’s bets is left with the Syndicate owner unless the member intends to leave the syndicate.
- A monthly settlement is done to protect the investment in the syndicate from theft of fraud. At any point in time the only risk to the members is one month’s pool.
- Syndicate Betting does not take or hold any responsibility for the security of a syndicate’s funds. We do our best to ensure all caution is taken when allowing a Syndicate to be set up. But it is at a member’s own risk they join a Syndicate.
- We ask that you ask existing members of Syndicates for a Syndicate Reference and please read all reviews before you join a new Syndicate.