Lotto Pools - Best Tips?

Reply #20

rdgrnr — Sat, 02 Mar 2013 00:43:48 GMT

I like common sense.

Reply #19

CinCin — Sat, 02 Mar 2013 00:07:55 GMT

Make copies of the tickets included in the pool and have them sign the copied pages.

I also make up a contract and have each one sign stating that winnings will be divided equally amongst those who are in the pool and I have their names on the contract and have them sign that as well. I don't know if you (or anyone else in the pool) purchases any individual tickets outside the pool, but if so, it's a good idea to state that in the contract any tickets bought outside the pool belong to those i... [ More ]

Reply #18

Stack47 — Fri, 01 Mar 2013 23:43:20 GMT

https://www.lotterypost.com/news/257885

Reply #17

maringoman — Fri, 01 Mar 2013 03:07:34 GMT

Allow people to contribute whatever money they can or wish to. Prize distribution will be simple math. Everybody will get paid in proportion to their contributions. Stipulate that on the charter/constitution from the get-go and you are all set. With that said, your pool will have to payout any winnings as soon as the day after the winnings. This is because if you carry over the winnings of one draw to the next and with people contributing different amounts then I can see a major problem if the t... [ More ]

Reply #16

A649KING2B — Fri, 01 Mar 2013 00:35:19 GMT

The way I run mine is we play for a certain amout of draws, our case its 26 draws. twenty shares. you can buy as many shares as you want. All money is paid up front, then we play after everyone is paid up. Contract explains who owns how many shares, get the idea

Reply #15

dallascowboyfan — Thu, 28 Feb 2013 10:16:34 GMT

Reply #14

dallascowboyfan — Thu, 28 Feb 2013 10:15:54 GMT

GG, make sure you get a written agreement tell them as the lottery pool manager it is very important that everything is documented.

Reply #13

savagegoose — Thu, 28 Feb 2013 06:56:36 GMT

Tell thm its share based, if you put in $1 you get 1 share, if you put in $10 you get 10 shares

if it wins, 1 will get 10/11ths of the prize, the other 1/11th

then simply the total $ invested is the number of shares in the pool, and the amount ea indivual invests, is their number fo shares.

** edit **

note i wouldnt join a share bbased pool, and no if they cant agree on a start up amount then its best not to nbe involved.

is suggest 2 pools, one for the $1 people a... [ More ]

Reply #12

rdgrnr — Thu, 28 Feb 2013 05:04:03 GMT

No, I agree with everybody paying the same and any jackpot being evenly divided. But the ones who only wanna spend a buck are the same ones who are gonna sue you at the end if you win when they were too cheap to kick in for a drawing or two and claim you were supposed to cover for them. I would say to have ONE set amount for everybody for every drawing and tell the cheapskates to take a hike.

And then when the cheapskates start their own pool - go join theirs too and tell them to cover for yo... [ More ]

Reply #11

GGStarlings — Thu, 28 Feb 2013 04:43:01 GMT

Yes, it always has been fun but lately these differences of opinion have come to the surface, and I guess I'm just happy it's NOW rather than later, after a jackpot... sitting in a courtroom with some malcontent with furrowed brow. lol

Reply #10

helpmewin — Thu, 28 Feb 2013 04:39:13 GMT

i never been in a Lottery pool but i have heard and read many storys after they all start fighting.

so be careful everything is on Paper it should be FUN

Reply #9

helpmewin — Thu, 28 Feb 2013 04:35:18 GMT

Reply #8

GGStarlings — Thu, 28 Feb 2013 04:34:31 GMT

Hey, thanks for that link, Helpmewin! Take a look at this!

Fix the amount for buy-in. No one should have a greater share just because they had more cash in their wallet that day.

Reply #7

helpmewin — Thu, 28 Feb 2013 04:31:29 GMT

heres some advice: http://www.wikihow.com/Organize-a-Lottery-Pool

Reply #6

GGStarlings — Thu, 28 Feb 2013 04:31:14 GMT

Ha, this really made me laugh. But might I add, it's also the King of the Hill - I want more shares type that also makes me nervous.

Dayumm.

Reply #5

GGStarlings — Thu, 28 Feb 2013 04:28:26 GMT

Get out now was kind of what I was thinking too. haha!

The main person who's arguing for the wager what you want policy is one who throws in more and wants a bigger share. Another person who's turned off by the other guy's Big Dog approach wants the equal wagering and distribution.

eeek... is kind of what I'm thinking at this point.

Reply #4

sully16 — Thu, 28 Feb 2013 04:24:41 GMT

Good luck with your pool, keep it small , list the rules and win

Reply #3

helpmewin — Thu, 28 Feb 2013 04:21:46 GMT

set a certain amount: i would think $1.00 or $2.00 per week is plenty that's why they call it a pool,

if anyone wants to buy more tickets per week you might suggest they can do them on their own outside of the pool. Good Luck

Reply #2

rdgrnr — Thu, 28 Feb 2013 04:21:27 GMT

Tell the cheapskates to go start their own pool.

It's the cheapskates that will always cause problems down the road.

Reply #1

mightwin — Thu, 28 Feb 2013 04:19:09 GMT

Get out before you start, you already have disagreements. If you feel like the extra tickets purchased are gonna help, stay by yourself and cutback on something extra that you buy that ya really don't need and put that $ towards the extra tickets that would be purchased with the pool

Lotto Pools - Best Tips?

GGStarlings — Thu, 28 Feb 2013 04:14:25 GMT

At my workplace we are going to start an official lottery pool, and by official I mean a sign-up sheet that will be passed around for all participants to sign. We've organized lotto pools many times over the past few years but it's been done in a rather slapdash fashion. Now we want to do it right so as to avoid, oh, you know, any number of courtroom nightmares we read about in the lottery news, should a large win occur. We don't want a litigation experience.

So we need to get the ball rollin... [ More ]