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Lottery Pools

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The word on Lottery Pools is this: "the poolmeister" must draw up a formal Pool Agreement signed by all active poolmembers. The "poolmeister" must not purchase any lottery tickets "on his own account" outside the general pool pot to avoid a conflict of interest situation.

This agreement must clearly spell out the particlar Pool's rules concerning contributions, missed payments and the status of members participation if he/she fails to make a contribution before a given drawing date. If you don't Pay you don't Play with NO EXCEPTIONS.

If a pool member fails to contribute money for two consecutive drawings he/she is permanentley dropped from the pool. If a member goes on vacation, he/she must pre-pay the "poolmeister" for the missed drawings or risk being dropped from the pool. Under no circumstanes will the "poolmeister" or any of the others Pool Members be resonsible for fronting money to the Pool on behalf of an absent Pool Mmber. Making timely Payments to the Pool is the sole responsiblity of the individual Pool Members. NO EXCEPTIONS.

The Winning split will be divided up evenly between the active Pool Members.

All tickets must be posted publicly for all pool members to view.

If a conflict regarding a prize occurs all pool members agree to solve the problem through Binding Arbitration. All pool members signing the Pool Agreement must waive their right to sue the other Pool Members, relying on Arbitration to solve the dispute. If a Pool Member disregards this Arbitration Agreement, takes his claim to Court and subsequently loses, he/she agrees to pay the legal fees and court costs for the entire pool.

I will add more to this as I think of it, but this is a start.

Entry #2

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