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questions on pools & past experiences

Topic closed. 10 replies. Last post 9 years ago by csfb.

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florida
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July 10, 2007
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Posted: October 14, 2007, 9:35 am - IP Logged

I am thinking of forming a pool.  A long time ago I formed a small pool for Fantasy 5 (florida) had everyone sign a agreement contract with all the necessary details. At that time Fantasty 5 was running only 3 days a week & it was easy, today it is 7 times a week. Anyway we won  $547.50 in just 3 wks of playing one member opted out so he had to sign out on the sheet. I did the wheeling & it was a lot of work. 

My question is this? The person who holds the winning ticket, what happens if by chance that individual passes away?   All the pool members have copies of their playing tickets. Now what?

Appreciate any feedback 

gogirlSun Smiley

    tiggs95's avatar - Lottery-036.jpg

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    Posted: October 14, 2007, 12:13 pm - IP Logged

    I use to help run a lottrey pool in a post office in Fla and also use to run numbers for people at a dog track and if I had it to do over again I would not do it..Good luck and hope you the best...

      four4me's avatar - gate1
      MD
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      Posted: October 14, 2007, 1:17 pm - IP Logged

      I am thinking of forming a pool.  A long time ago I formed a small pool for Fantasy 5 (florida) had everyone sign a agreement contract with all the necessary details. At that time Fantasty 5 was running only 3 days a week & it was easy, today it is 7 times a week. Anyway we won  $547.50 in just 3 wks of playing one member opted out so he had to sign out on the sheet. I did the wheeling & it was a lot of work. 

      My question is this? The person who holds the winning ticket, what happens if by chance that individual passes away?   All the pool members have copies of their playing tickets. Now what?

      Appreciate any feedback 

      gogirlSun Smiley

      My question is this? The person who holds the winning ticket, what happens if by chance that individual passes away?   All the pool members have copies of their playing tickets. Now what?

      Appreciate any feedback 

      I would think it would go to his/her spouse or whomever their next of kin is.

        Coin Toss's avatar - shape barbed.jpg
        Zeta Reticuli Star System
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        Posted: October 14, 2007, 1:18 pm - IP Logged

        gogirl

        My concept of a pool is that all the tickets are pooled, and any prizes are pooled.  

        If someone pases away, the number of ways the pool is split just reduces by one, or (assuming there was a prize) that person's family gets their share - the contract should be written up that way prior to any tickets being played.

        In casinos, if anyone dies on a table (it's happened) or slot machine, whatever coins or credits (slots) or chips that person had goes into their estate.  

        I want to say I'm with tiggs95 on this and not go for pool play, but it could be the difference between hitting and sharing a jackpot or never hitting a jackpot.

        Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

        Lep

        There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

          justxploring's avatar - villiarna
          Wandering Aimlessly
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          Posted: October 14, 2007, 2:11 pm - IP Logged

          If you are asking about the status of a deceased member of a pool, my answer is to address that on the original agreement.  If someone dies after contributing to a pool, of course his family is entitled to his share. After all, he paid for the ticket.  However, if that person dies and no further contributions are made, then he is no longer an active member.  I've read where retired people and former employees have continued to play in a pool that eventually won, so I don't see why the family can't be asked if they wish to remain in the pool, even after his death. 

          I agree with the people who say that a pool is too complicated and risky, but I also agree that it gives you a much better shot at winning.

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            Kentucky
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            February 14, 2006
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            Posted: October 14, 2007, 3:31 pm - IP Logged

            I am thinking of forming a pool.  A long time ago I formed a small pool for Fantasy 5 (florida) had everyone sign a agreement contract with all the necessary details. At that time Fantasty 5 was running only 3 days a week & it was easy, today it is 7 times a week. Anyway we won  $547.50 in just 3 wks of playing one member opted out so he had to sign out on the sheet. I did the wheeling & it was a lot of work. 

            My question is this? The person who holds the winning ticket, what happens if by chance that individual passes away?   All the pool members have copies of their playing tickets. Now what?

            Appreciate any feedback 

            gogirlSun Smiley

            It's a unique situation and it could create lots of confusion if the next of kin found the winning ticket and cashed it being unaware it was part of a pool. What if the ticket holder hid the ticket in a safe place and nobody could find it?

            On the other side of the coin if a member of the pool died, that too could create some problems if they owed money to the pool and the pool won the jackpot.

            "had everyone sign a agreement contract with all the necessary details."

            Good idea but there is always a few details left out. Did you get the agreements notarized?

            I'm not against pools, but most win nothing and the more complicated they get; it can take the fun out of playing.

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              NY
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              Posted: October 16, 2007, 2:15 am - IP Logged

              I don't see much need to address the specific problem of a member dying. It's a given that dying means you're no longer part of the pool. If the pool wants to admit a former member's spouse, that's no different than adding any other new member.

              As far as somebody dying while in possession of a winning ticket, I'd lump that in with the plan for all tickets purchased by the pool. Once the pool buys tickets, the tickets need to go somewhere safe, and the pool will need to figure out where. Having the ticket lost or destroyed is probably just as likely as having the person in possession die, so what's the plan if Fred from accounting loses that $50 million PB ticket? If tickets are to be held by one of the members, that person's spouse should be aware of it.  Of course there's still the chance that they and their spouse (and all 14 of their kids) could all die in the same car crash, but what are the odds that the pool will win more than a few bucks and the person holding the winning ticket will die in the week between buying the ticket and cashing it in? If a pool wins anything substantial and feels they can't submit the ticket right away they should put it in a safe depsosit box, because leaving 100 grand in cash (and a winning ticket was cash if it got lost or destroyed) in your desk is just plain stupid.  A small safe deposit box can be rented for as little as $10 a year, which is cheap enough that it's not a bad idea for a pool to rent one as part of their overall  plan. Be aware thatin some states the bank must refuse entry to the box (possibly except to locate a will and/or document the contents) if one of the renters (you wouldn't be dumb enough to have only one person authorized to access the box, right?) dies.  Boxes can be rented to entities other than individuals, so the pool could rent one as a partnership, which may offer a bit more protection in the event that one of the people with access were to die. In the extremely unlikely event that your pool wins anything substantial and one of the people with access to the box dies while the ticket is in the box somebody else with access should get the ticket ASAP, anyway, just in case.

                csfb's avatar - Lottery-001.jpg

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                Posted: October 16, 2007, 8:07 am - IP Logged

                I am thinking of forming a pool.  A long time ago I formed a small pool for Fantasy 5 (florida) had everyone sign a agreement contract with all the necessary details. At that time Fantasty 5 was running only 3 days a week & it was easy, today it is 7 times a week. Anyway we won  $547.50 in just 3 wks of playing one member opted out so he had to sign out on the sheet. I did the wheeling & it was a lot of work. 

                My question is this? The person who holds the winning ticket, what happens if by chance that individual passes away?   All the pool members have copies of their playing tickets. Now what?

                Appreciate any feedback 

                gogirlSun Smiley

                To re-phrase your question:  What happens if the winning ticket is lost, misplaced or can not be found? 

                No problem.  While the best evidence is the original ticket itself, in the absence thereof, you can prove its existence a number of ways. 

                For example, you have copies of the lost ticket.  You have a signed agreement.  You have witnesses.  Etc, etc... 

                It's all a matter of PROOF.

                         Sun Smiley             

                  TheGameGrl's avatar - character catafly.jpg
                  A long and winding road
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                  Posted: October 16, 2007, 6:33 pm - IP Logged

                  To re-phrase your question:  What happens if the winning ticket is lost, misplaced or can not be found? 

                  No problem.  While the best evidence is the original ticket itself, in the absence thereof, you can prove its existence a number of ways. 

                  For example, you have copies of the lost ticket.  You have a signed agreement.  You have witnesses.  Etc, etc... 

                  It's all a matter of PROOF.

                  None of which are acceptable when laying claim to the sum. Read the rules and regulations of state lotteries. THey dont accept photocopies of tickets or someones sworn affadavit.

                  What they accept is the actual ticket in its entirety based on the game played and time lot in which it is to be claimed by.

                  Lotto pools can be easily created and dont have to have mumbo jumbo jargon when placing simple guidelines. Surely adults can have some level of what is reasonable and what isnt when it comes to where to place the ticket and which persons are trustworthy .  In our small lottery pool we would have NO problem giving part wins to the family of the lost participant. THen again, we are each in it to provide for our families so ....no real end result change.

                  ~~Is it true, Is it kind,Is it necessary. ~~~

                   Thanks be to the giving numbers: 1621,912,119 02014

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                    NY
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                    Posted: October 16, 2007, 8:15 pm - IP Logged

                    None of which are acceptable when laying claim to the sum. Read the rules and regulations of state lotteries. THey dont accept photocopies of tickets or someones sworn affadavit.

                    What they accept is the actual ticket in its entirety based on the game played and time lot in which it is to be claimed by.

                    Lotto pools can be easily created and dont have to have mumbo jumbo jargon when placing simple guidelines. Surely adults can have some level of what is reasonable and what isnt when it comes to where to place the ticket and which persons are trustworthy .  In our small lottery pool we would have NO problem giving part wins to the family of the lost participant. THen again, we are each in it to provide for our families so ....no real end result change.

                    Perhaps you should read the offical rules of more state lotteries. Those things may be perfectly good for claiming a prize if the original ticket can't be presented for some reason. In some states the official rules specificaly prohibit payment without the original ticket, but in others states prizes may be paid without the ticket, as long as the claimant can prove that they are entitled to the prize. Without a ticket it will be harder to prove that you are the lawful owner of a missing ticket, but it may be possible.  For online games the lottery will have a record of when and where the ticket was sold, and for every game they'll know if any prizes are unclaimed.

                    As far as "giving part wins to the family of the lost participant," you wouldn't have any choice, assuming the family knows about it. Dying means ownership passes to the deceased's estate, not to the other members of the pool, unless there was an agreement that prizes would be split only among those surviving when the prize is paid.

                      csfb's avatar - Lottery-001.jpg

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                      Posted: October 17, 2007, 8:23 am - IP Logged

                      Well expained, KyFloyd. 

                      I should add, further to my earlier post, that as a matter of course (and without more) absent the original ticket, a claim is denied.  But the process does not end there. 

                      That is why we have courts of law as final arbiters on questions of fact and questions of law. 

                      It's a matter of proof.

                               Sun Smiley