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Lotto Pools - Best Tips?

Topic closed. 20 replies. Last post 4 years ago by rdgrnr.

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Idaho
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Posted: February 27, 2013, 11:14 pm - IP Logged

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 rolling but there's a disagreement going on between a few key people over how much money will be wagered, and by whom.  You see, some employees will spend only $1 per game ($2/ week)  while other, more enthusiastic members love spending $10 ($20/ week).  Most of us are somewhere inbetween.

Advice, please:  Would it be best to have all wagering be equal/ same, say, each participant throwing in $2- $4 per game, consistently, all equal?  Or should we keep it loose, with the wagering always varying from player to player, with the winnings being split proportionally, like shares?  What do you think?

La Maga Della Spaziometria

    mightwin's avatar - questns

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    Posted: February 27, 2013, 11:19 pm - IP Logged

    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

      rdgrnr's avatar - walt
      Way back up in them dadgum hills, son!
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      Posted: February 27, 2013, 11:21 pm - IP Logged

      Tell the cheapskates to go start their own pool.

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


                                                   
                           
                                               

       

       

       

       

                                                                                                         

      "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                  --Edmund Burke

       

       

        helpmewin's avatar - dandy
        u$a
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        Posted: February 27, 2013, 11:21 pm - IP Logged

        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 Lep

        Let it Snow Snowman

          sully16's avatar - sharan
          Ringleader
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          Posted: February 27, 2013, 11:24 pm - IP Logged

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

          Did you exchange a walk on part in the war ?

          For a lead role in a cage?

           

                                                      From Pink Floyd's " Wish you were here"

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            Posted: February 27, 2013, 11:28 pm - IP Logged

            "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.

            La Maga Della Spaziometria

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              Posted: February 27, 2013, 11:31 pm - IP Logged

              Tell the cheapskates to go start their own pool.

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

              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.

              La Maga Della Spaziometria

                helpmewin's avatar - dandy
                u$a
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                Posted: February 27, 2013, 11:31 pm - IP Logged

                "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.

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

                Let it Snow Snowman

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                  Posted: February 27, 2013, 11:34 pm - IP Logged

                  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.

                  La Maga Della Spaziometria

                    helpmewin's avatar - dandy
                    u$a
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                    Posted: February 27, 2013, 11:35 pm - IP Logged

                    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.

                    I Agree!

                    Let it Snow Snowman

                      helpmewin's avatar - dandy
                      u$a
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                      Posted: February 27, 2013, 11:39 pm - IP Logged

                      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!Smiley

                      Let it Snow Snowman

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                        Posted: February 27, 2013, 11:43 pm - IP Logged

                        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

                        La Maga Della Spaziometria

                          rdgrnr's avatar - walt
                          Way back up in them dadgum hills, son!
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                          Posted: February 28, 2013, 12:04 am - IP Logged

                          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.

                          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 you if you miss a payment.


                                                                       
                                               
                                                                   

                           

                           

                           

                           

                                                                                                                             

                          "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                                      --Edmund Burke

                           

                           

                            savagegoose's avatar - ProfilePho
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                            Posted: February 28, 2013, 1:56 am - IP Logged

                            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 and and one for the $10 people, even allow people to join both.

                            and id make the people who disagree and  are causing the ruckus to start and manage them both.

                            2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

                            keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

                              dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
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                              Posted: February 28, 2013, 5:15 am - IP Logged

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

                              I Love Pink & Green 1908