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If you ran a pool...

Topic closed. 21 replies. Last post 10 years ago by KY Floyd.

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If you ran a pool, how many people would you let in on it, at $10 per drawing ? (counting yourself)

1 - just me - I don't need the headaches [ 5 ]  [19.23%]
2-3 people [ 2 ]  [7.69%]
4 people [ 2 ]  [7.69%]
5-6 people [ 3 ]  [11.54%]
7-8 people [ 0 ]  [0.00%]
9 people [ 2 ]  [7.69%]
10-15 people [ 6 ]  [23.08%]
16 or more people [ 6 ]  [23.08%]
Total Valid Votes [ 26 ]  
Discarded Votes [ 1 ]  
guesser's avatar - Lottery-017.jpg

United States
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June 16, 2006
1969 Posts
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Posted: August 8, 2006, 1:43 am - IP Logged

How can you administer a pool to a bzillion people ?

At what point is there too many people in a pool ? 

    Coin Toss's avatar - shape barbed.jpg
    Zeta Reticuli Star System
    United States
    Member #30470
    January 17, 2006
    10344 Posts
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    Posted: August 8, 2006, 2:07 am - IP Logged

    Ideally, gambling (any gambling) should be a solo endeavor. 

    Many times in Vefas I saw situations where there'd be one winner in a group of people and all the losers always wanted the winner to bail them out - and all too often, if the winner gave them part of their winnings, those looking to be bailed out just blew that, too.

     This latest Powerball hit in Wisconsin (which probably triggered this thread) may turn out very interesting. When $208 million turns into $750,000 a share, I wouldn't be surprised if in the next few years some of those people don't blow their whole share trying to hit a jackpot all their own. 

      justxploring's avatar - villiarna
      Wandering Aimlessly
      United States
      Member #25360
      November 5, 2005
      4461 Posts
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      Posted: August 8, 2006, 2:26 am - IP Logged

      I like playing alone, although 100 tickets has a much better chance than 5 or 10. If I worked in a place that ran a pool, I'd probably like to join. For PB and MM I suppose 20 people or more would be okay, but splitting a state lottery with more than 10 people doesn't make sense to me, although something is better than nothing.  However, I would want it to have written rules. (1) lump sum payment only (2) each member must play & pay every draw. You're either in or you're out. (3) Any tickets played outside of the pool are personal and....

      Come to think of it, I think I'll go back to my original thought. Too much of a headache!

        four4me's avatar - gate1
        MD
        United States
        Member #1701
        June 18, 2003
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        Posted: August 8, 2006, 2:28 am - IP Logged

        i won't get in a pool unless the jackpot it 200 mil or more and only with 10 people at 5 or 10 bucks a person.

        Big John says. You don't hit the number. The number hits you!!!!

                       I'm not Big John, I'm Four4me, Big John's a friend.
          RJOh's avatar - chipmunk
          mid-Ohio
          United States
          Member #9
          March 24, 2001
          19816 Posts
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          Posted: August 8, 2006, 3:17 am - IP Logged

          Most people don't join a lottery pool to spend $10 per drawing, they usually join hoping to spend a dollar and get the advantage of spending more by combining their dollar with the dollars of other players and they're only interested in joining a pool when the jackpot is large.  Such pool don't really take a lot of managing skills since they only happen when the jackpot gets big.  The person in charge simply make a list of everyone who contributed a dollar and make photo copies of the tickets bought to be distributed to each person on the list before the drawing.  Those who contributed are in and those who didn't are not.

          I suspect the 100 persons cheese factory group had such a one shot deal.  Such pool usually work fine if the winnings are divided among the participants after each drawing and not carried over even if the jackpot is not won.  The next pool has to also be a one shot deal and have the same rules, those who contribute are in and those who don't are not.

           * you don't need to buy more tickets, just buy a winning ticket * 
             
                       Evil Looking       

            cps10's avatar - Lottery-004.jpg
            The Carolinas - Charlotte
            United States
            Member #21627
            September 12, 2005
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            Posted: August 8, 2006, 7:39 am - IP Logged

            I run a pool and have 21 people participating. Each of them buys their "shares" in the pool, so it is not balanced in terms of equity. We have 56 "shares", some people owning 1 share, and others owning 10 shares. We have decided to decide on annuity or cash option as a group, with each share getting one vote, unless Powerball allows us to take it on an individual case basis. We love the amount of people in our pool because we all know each other and joke around about how barren the office will be when we all tell management to take a hike when we win the jackpot! :)

            The North Carolina Education Lottery - so much a joke that here are their mascots:

            Stooges

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              Coastal Georgia
              United States
              Member #2653
              October 30, 2003
              1866 Posts
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              Posted: August 8, 2006, 10:38 am - IP Logged

              I have been getting into a pool quite a bit lately since we have had heat indexes over 100...

              DD

               

                                             

                            

               

               

                mrmst's avatar - disney14
                Glen Burnie, MD
                United States
                Member #427
                June 27, 2002
                208 Posts
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                Posted: August 8, 2006, 11:10 am - IP Logged

                I run several pools.  One group of 15 put up $3 each for every drawing of Mega Millions.  One group of 22 put up $1 each for every drawing of Powerball.  In both pools small winnings are reinvested into extra tickets for the next drawing.  When either jackpot gets over $100 million, I open up additional "Special" pools that non-regulars and the regulars can jump in and out of.  We have only had 2 wins where I paid out cash - won $150 on Mega Millions once and $100 on Powerball once.  Every member gets an emailed copy of the scanned tickets just prior to each drawing - and every page has a complete listing of all the members in that drawing.  It has worked out ok so far, but never can tell what will happen when we win big - millions of $$$ can sure change people.

                MrMST

                Good luck and have a Disney Day ºoºHiding Behind Computer

                  cps10's avatar - Lottery-004.jpg
                  The Carolinas - Charlotte
                  United States
                  Member #21627
                  September 12, 2005
                  4138 Posts
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                  Posted: August 8, 2006, 12:04 pm - IP Logged

                  I run several pools.  One group of 15 put up $3 each for every drawing of Mega Millions.  One group of 22 put up $1 each for every drawing of Powerball.  In both pools small winnings are reinvested into extra tickets for the next drawing.  When either jackpot gets over $100 million, I open up additional "Special" pools that non-regulars and the regulars can jump in and out of.  We have only had 2 wins where I paid out cash - won $150 on Mega Millions once and $100 on Powerball once.  Every member gets an emailed copy of the scanned tickets just prior to each drawing - and every page has a complete listing of all the members in that drawing.  It has worked out ok so far, but never can tell what will happen when we win big - millions of $$$ can sure change people.

                  That is what we do. What is the use in dividing up $7 among all of our shares? LOL

                  I post the numbers on a website. Our tickets rarely change, so there is no need to scan the same tired ol' tickets every week. If we pull a ticket out because it won a substantial amount, then we will replace it and the tickets are scanned again, and then the numbers placed on the website. Our members can see just how much has been won each week on the website and have a formula to calculate how much of that is earned for each share. However, since we have the same people every week, they also know that their winnings get put into the reserve account for large jackpot drawings.

                  Incidentally, we play three lotteries: MegaMillions, Powerball (majority of our tickets) and the California SuperLotto.

                  The North Carolina Education Lottery - so much a joke that here are their mascots:

                  Stooges

                    guesser's avatar - Lottery-017.jpg

                    United States
                    Member #41383
                    June 16, 2006
                    1969 Posts
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                    Posted: August 8, 2006, 1:08 pm - IP Logged

                    Yes, I know most large pools are for $1 or $2 per person, my concern is when you get into the argument of who paid and who didn't, who 'meant to', and who had an agreement to 'pay you next week', that can get hairy.

                     

                    The news today said each winner in WI will get $600,000, that's not at all bad, compared to zero.  Hopefully most of them will keep

                    their day jobs, or this will give them just enough to get them to retirement. 

                      Avatar
                      New Member
                      GENT
                      Belgium
                      Member #44759
                      August 8, 2006
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                      Posted: August 8, 2006, 5:15 pm - IP Logged

                      If you want to play in a pool on the biggest official European lottery. Play in groups of 36 and increase the odds of winning the jackpot from €15 - €75.000.000 (+- $16 - $90.000.000)

                       This is no scam or what so ever i play it since 2 months and have had some earnings allready.

                       Look here: http://www.groupmillions.com/1977

                       Official website: http://www.euromillions.be

                        RJOh's avatar - chipmunk
                        mid-Ohio
                        United States
                        Member #9
                        March 24, 2001
                        19816 Posts
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                        Posted: August 8, 2006, 5:22 pm - IP Logged

                        olisan,

                        It's obvious that you are someone who join LP today just to promote a scam from which you will profit.  The webmaster most likely will eliminate your post as soon as he sees it.

                         * you don't need to buy more tickets, just buy a winning ticket * 
                           
                                     Evil Looking       

                          Avatar
                          New Member
                          GENT
                          Belgium
                          Member #44759
                          August 8, 2006
                          3 Posts
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                          Posted: August 8, 2006, 5:37 pm - IP Logged

                          I can tell you this is no scam, it is an official lottery company !! I'm not trying to scam, you play the lottery that's all. And I indeed profit from it, buth the person in question is not harmed by that !!

                            justxploring's avatar - villiarna
                            Wandering Aimlessly
                            United States
                            Member #25360
                            November 5, 2005
                            4461 Posts
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                            Posted: August 8, 2006, 5:53 pm - IP Logged

                            I have been getting into a pool quite a bit lately since we have had heat indexes over 100...

                            DD

                            GROAN!!!Smash

                             

                            Watch out for sharks!  (pool sharks, that is) 

                              justxploring's avatar - villiarna
                              Wandering Aimlessly
                              United States
                              Member #25360
                              November 5, 2005
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                              Posted: August 8, 2006, 6:00 pm - IP Logged

                              Yes, I know most large pools are for $1 or $2 per person, my concern is when you get into the argument of who paid and who didn't, who 'meant to', and who had an agreement to 'pay you next week', that can get hairy.

                               

                              The news today said each winner in WI will get $600,000, that's not at all bad, compared to zero.  Hopefully most of them will keep

                              their day jobs, or this will give them just enough to get them to retirement. 

                              I think, as with everything else in life, the end result will always depend on the people involved.  If you have 10 people and 2 are difficult, you'll have problems.  If you have 100 people and they're all friendly and reasonable people, you probably won't have any. It's sort of like a divorce. Some couples part amicably, some do not, and some wind up going to court and battling over who owes what to whom for years.