| Posted: June 9, 2008, 1:37 pm - IP Logged |
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Lotto pools aren't a bad deal. You just have to be careful to put the rules in writing. I'm running two pools right now. and they each had buy-in deadlines and payment was required in ADVANCE of buying any tickets. There is no "I'll pay you when I get back from vacation" or "Can you cover me until I have the money."
My rules clearly state that we share only on the numbers provided to the pool, which must be done before the drawing. In the first organized pool I started, they laughed at me when they saw the rules. That's when I told them to check out this site and read about all the pool lawsuits. Some of them still think I'm a bit anal about it but we all buy tickets on our own and/or in other pools, making the rules necessary.
When you buy in you have to sign the buy-in receipt which contains the rules. Also, each pool has an ending date determined in part by the number of players in the pool. All official communication is done by email and if a new pool begins with basically the same members, an email is sent detailing who is joining, leaving, and staying.
I'm not one of those people who will spend $5 on one drawing so being in pools helps me have more chances to win, even if the amount has to be spread among several people.
Would I prefer to win on my own ticket - yes. Would I be happy with a pool win - yes. Would I ever play the pool's numbers on my own ticket for the same drawing - no.
As someone mentioned before, why would a member of the pool give their numbers out to someone else anyway?
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Playing together to make a splash in the pool of lottery winners. It's just a matter of time.
