Creating a syndicate means making the selections and putting up the ticket for others to invest in.
As Captain of the syndicate, it also means that once in-play, you will be in charge of any cash-out decisions on behalf of the syndicate.
You will have to fund the first 10% of the total cost of the ticket, but you will not be able to buy anymore than 50% of the ticket.
All the information you need will appear on your ticket. Members of the syndicate will be able to see any cash-out offers but only you will be able to access it and decide how much, if any, to take.
Like any regular ticket, any cash-outs and dividends are listed and paid immediately into your account. Any share of profit owed to syndicate members is automatically credited to them directly.
TO CREATE A SYNDICATE
- Log into your Colossus Account and go to ‘Syndicates’
- Select ‘Create’
- Choose the pool you want to create a syndicate in.
- Make your selections on the grid.
- Select the cost per line (£2, £1, £0.50, £0.20)
Then hit ‘Next’
NAMING SYNDICATE & CHOOSING CONTRIBUTION
- Select a name for your syndicate as you want it to appear on the leader board
- Enter how much you want to contribute from 10% up to 50%.
- Select ‘Publicly list my Syndicate ticket’ so it will appear on the board for others to invest
Then hit ‘Confirm’
SHARE YOUR TICKET
- To promote your syndicate, use ‘Click to share’ – this will help fill your ticket
- You can choose to share on both Twitter and WhatsApp
TRACKING YOUR TICKET
Your syndicate will now appear in your ‘Tickets’ page. From here, you can follow the progress on how it is filling up, ‘Contribute more’ or ‘Click to share’ to remind twitter followers that shares are available.
If the ticket is not completely filled when the pool closes, the syndicate is cancelled and both yours and the investor’s contributions are returned.
Once it is filled, it will go in-running when the pool closes.
As Captain, you are responsible to make the decisions on cash-outs on behalf of the syndicate. The members will see the offers and any cash-outs you take will be automatically calculated and distributed to yourself and the members in proportion to their investment.
And when the pool is settled, it will be moved to your ‘TICKET HISTORY’ and you can review the cash-outs and dividends you received!