Apologies, it should have said split equally rather than proportionally - OP is updated now.
My point being, in an extreme example with 2 members of the syndicate, one can fund 99% of bets and receive 99% of returns, while the treasurer only funds 1% of bets and receives 1% of returns.
Out of interest, is there a reason why each member doesn't operate their own account funded to the level they are comfortable with. Bets could be agreed together and then each member place them individually (or give someone authority to act on all the accounts)
Otherwise, document the arrangements and keep the backup for the cash movements so you have an audit trail in case of queries.
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