Does joining a lottery pool " increase" your chances of winning the top prize?

Reply #13

Tialuvslotto — Tue, 22 Jul 2014 16:01:57 GMT

I would guess that many more tickets are sold to individuals than to pool groups, since 1 ticket = 1 chance to win.

I agree, you hear mostly about the individual winners and only occasionally a group win. And when a group does win, even a big JP, the amount each member takes home is often (relatively) small.

Reply #12

RJOh — Tue, 22 Jul 2014 15:15:43 GMT

There are many strategies for winning lotteries, the fact that most large jackpot winners are individuals who brought some quick picks doesn't mean that it's the best strategy for everyone. I prefer to play alone but I also like to use a system I developed to pick the combinations I play.

Reply #11

LottoMetro — Tue, 22 Jul 2014 15:15:20 GMT

More individuals win because more individuals play.

I personally don't participate in a pool but it would be great for wheeling. It's irrelevant that you share the prize because the return to player over time is exactly the same, i.e. winning $200,000 for putting 1 ticket in the pool instead of $1,000,000 for playing 5 tickets alone. It's like playing in a raffle.

If you want to rely purely on luck like I do then how you play doesn't matter.....only that you play

Reply #10

noise-gate — Tue, 22 Jul 2014 14:10:41 GMT

I guess the point point l am trying to make Tia is that when l look back on the list of recent lottery winners, lottery pools are not in clear sight.

for instance the $425 mil winner from Fremont- One winner.

Prior to that, the Asian $400mil winner back in December from San Jose- One winner.

$200 mil plus winner from Ohio, * I think-Brother Roy- One winner.

$200 mil winner last year from Fresno- One winner.

Clearly- Solo winners outpace lottery pools....at this point.

Reply #9

BigDMike — Tue, 22 Jul 2014 12:51:37 GMT

More tickets equals more chances. It doesn't equal BETTER chances...does it? The odds don't change, so in my opinion lotto pools are for those that just want to share the jackpot for a smaller investment and payout. I'd rather cash in alone, and buy my co-workers lunch. If they want to pool anything, let's pool those pay checks with the executives.

Now if THEY win, then all of this is null/void. My lunch would be my foot, and theirs would be 5 star. So what the heck do you do... [ More ]

Reply #8

Tialuvslotto — Tue, 22 Jul 2014 11:58:35 GMT

Every pool is hopeless. Playing the lottery is hopeless.

But hope triumphs over logic every time, and once in a very looooooong while it pays off.

May the luck fairy visit your pool next draw

Reply #7

noise-gate — Tue, 22 Jul 2014 05:35:44 GMT

Reply #6

RedStang — Tue, 22 Jul 2014 05:21:13 GMT

Our pool is hopeless. We even had everyone bring in a ticket and still got skunked.

Reply #5

noise-gate — Tue, 22 Jul 2014 05:10:33 GMT

When you mentioned Investing in a fund with other investors - l immediately thought of Bernie Madoff.

Point taken nonetheless.

Reply #4

Coin Toss — Tue, 22 Jul 2014 05:06:46 GMT

Agreed, solo is the way to go.

Reply #3

noise-gate — Tue, 22 Jul 2014 05:04:11 GMT

Coin Toss- l base my post on the fact that if you looked at the most recent winners, almost all have been solo winners, the last pool winners l can think of we're those from back East * NJ l think, you recall the self appointed spokesman who looked like a close cousin of the Duck Dynasty.

Pedro needed no lottery pool, neither did Gloria and they did pretty well by all accounts.

Reply #2

Coin Toss — Tue, 22 Jul 2014 04:49:08 GMT

While more tickets equals more chances is true, depending on the size of the pool a jackpot will be split more ways.

Also, there's been plenty of threads in News about a pool hitting a jackpot and not getting paid for a long time afterwards because of legal hassles such as someone claiming they should have been included and weren't.

Reply #1

LottoMetro — Tue, 22 Jul 2014 03:57:39 GMT

More tickets = more chances

If you would otherwise play just 1 ticket, but the pool plays even 2, then yes it increases your chances. It's kinda like investing in a fund with other investors....you might make more on your own but you also take all the risk. A group can spread it around

The fact there are few pools who win should tell you just how awful the odds are either way you play.

Does joining a lottery pool " increase" your chances of winning the top prize?

noise-gate — Tue, 22 Jul 2014 03:03:08 GMT

I think not.. here is why, l have read of folks who have been in lottery pools for ages who have not won anything substantial-when was the last time you saw a bunch of them standing on the podium, telling the press what they plan to do with their newfound wealth? It would seem going solo is it: At least if you losing by buying more tickets all by your lonesome, you don't have to put up with the complaints from the others in the pool.

* Continue to have a Great week People..