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Joys of running a lottery pool

Topic closed. 20 replies. Last post 2 years ago by PrisonerSix.

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Baton Rouge, LA
United States
Member #4602
May 7, 2004
700 Posts
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Posted: January 26, 2015, 9:59 pm - IP Logged

Question for those involved in pools. Is there a dollar amount you decide to roll over rather than distribute?  If you won $600, do you distribute, put it back in the pool or put some back in the pool (say a hundred bucks) and distribute the rest? What's the highest winning amount you choose to keep in the pool?

In my pool, we haven't had to deal with that yet. One time we won $52, which was enough to pay for an additional pool. I took a poll asking if the members wanted more tickets, a free pool, or cash and most voted for a free pool. If we win an amount large enough to be taxed, I guess I'll do a distribution. We have 11 people in our pool.

Prisoner Six

"I am not a number, I am a free man!"

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    CALI
    Afghanistan
    Member #118735
    November 6, 2011
    134 Posts
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    Posted: February 19, 2015, 4:17 am - IP Logged

    Our ticket master runs all this <snip> for us.

    Aint got the time to check 900 ticket's a month.

    Hell, we haven't won anything major in 3 years

    This post has been automatically changed by the Lottery Post computer system to remove inappropriate content and/or spam.

      maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
      Massachusetts
      United States
      Member #37433
      April 14, 2006
      2747 Posts
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      Posted: February 19, 2015, 9:19 am - IP Logged

      Our ticket master runs all this <snip> for us.

      Aint got the time to check 900 ticket's a month.

      Hell, we haven't won anything major in 3 years

      This post has been automatically changed by the Lottery Post computer system to remove inappropriate content and/or spam.

      Thud900 tickets?! If I was the 7-eleven guy and saw you coming, I'd take a break LOL

      You Cali guys go hard. I hope you win big

      That money's gone fo ever

        maximumfun's avatar - Lottery-030.jpg
        Lavender Rocket

        United States
        Member #124616
        March 16, 2012
        2642 Posts
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        Posted: February 19, 2015, 11:53 am - IP Logged

        Question for those involved in pools. Is there a dollar amount you decide to roll over rather than distribute?  If you won $600, do you distribute, put it back in the pool or put some back in the pool (say a hundred bucks) and distribute the rest? What's the highest winning amount you choose to keep in the pool?

        For the 2 pools that I occasionally play in - both distribute any/all winnings - the thought being that any money rolled forward would be the 'possession' of the pool members from the pool that won THAT amount, and if the pool membership changed for the new date: the people who didnt participate in the pool previously would have no claim to that ticket(s)... and THEN it started getting confusing.

        So I just nodded my head and went "um hmm.... oh... ah... yes of course" and took my pennies and ran.

          Scratch$'s avatar - sm lottery.jpg

          United States
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          September 5, 2014
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          Posted: February 19, 2015, 4:19 pm - IP Logged

          About 70% of all Powerball jackpots won have been on quick-picks. So I would strongly recommend that at least half of your plays be quick-picks. 50/50 is what I usually play.

          Scratchers ~ Cash 5 ~ Powerball ~ Mega Millions

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            Baton Rouge, LA
            United States
            Member #4602
            May 7, 2004
            700 Posts
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            Posted: February 20, 2015, 7:55 pm - IP Logged

            For the 2 pools that I occasionally play in - both distribute any/all winnings - the thought being that any money rolled forward would be the 'possession' of the pool members from the pool that won THAT amount, and if the pool membership changed for the new date: the people who didnt participate in the pool previously would have no claim to that ticket(s)... and THEN it started getting confusing.

            So I just nodded my head and went "um hmm.... oh... ah... yes of course" and took my pennies and ran.

            I originally distributed the small winnings, but everyone wanted me to buy more tickets, so I started doing that. I've had a few members leave the pool, which did cause me some problems. I had rolled winnings back in from previous drawings that former members participated in, so those former members still had a stake in the pool, even if it was a smaller stake than those still paying in every payday. It took a round of winning no money to finally get them out of the pool.

            Prisoner Six

            "I am not a number, I am a free man!"