Lottery Pools - Your Thoughts??Prev TopicNext Topic

• winsumloosesum

  

  Philadelpia/Pennsylvania
  United States
  Member #2,218
  September 1, 2003
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  Dec 18, 2003, 3:54 pm

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  Playing in Lottery Pools should be like investing in a Mutual Fund.

  You should have it professional managed and people who are professional in selecting numbers.

  I would like to see some return on my investment.  Granted your talking about gambling with much higher odds.

  The Lottery Pools should be limited to a certain number of people at a set number of playing dollars.

  The pool should inform you of what numbers that they are playing and a reason for playing them.  Hey, it's your money don't you want to know what systems and numbers they are using.  Maybe offer a monthly or weekly statement.

  Lastly, there should be a legal agreement between you and the Lootery Pool management so your protected in case someone want to fly the coop with your winnings.

  I would play in a Lottery Pool if run as described above.

  wsls
• weshar75

  

  Mcminnville, Oregon
  United States
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  December 13, 2003
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  Dec 18, 2003, 4:35 pm

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  I had played with a group of coworkers about four years ago but we never won anything.  Now I buy tickets just for me not lottery pools.  I don't like them. 
• Lottery_Analyst

  

  Georgia
  United States
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  January 15, 2003
  260 Posts
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  Dec 18, 2003, 6:38 pm

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  Winsumloosesum,

  I agree with you 100% and know of a club just as you described.  Please email me if interested.

  Thanks,

  Lottery Analyst
• CASH Only

  United States
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  June 5, 2002
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  Dec 22, 2003, 12:58 pm

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  weshar:

  I don't think you'd be very successful in forming a lottery club that would take the annuity.
• CASH Only

  United States
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  June 5, 2002
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  Dec 25, 2003, 2:36 pm

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  Wonder if the Xmas lottery pools also are making boxes for  Super Bowl XXXVIII ?
• Clipper

  

  Texas
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  May 7, 2003
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  Dec 25, 2003, 9:04 pm

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  A number of years ago when my Husband was still working for a company they had a Lottery Pool at his job and he and I were the ones that ran the pool.

  My husband was well liked and trustworthy so there was no problem getting people to join.  Even with that.....I wrote up a set of written guidelines and rules to "spell out" exactly what would happen and tried to be fair to all concerned.....even ourselves.  Each person had to sign a copy of these quidelines in their acceptance and acknowledgement.

  We set a limit as to the number of people who could participate in the pool (30) and each person had to contribute a minimum of $5.00 to a maximum of $10.00......or 2 "shares".  Since we were local they had their choice of giving $5-10 to my Husband and he would buy quick picks or they could buy their own Quick Picks and give them to him to put in the "pool".

  Copies of all the tickets or numbers we had were distributed to every member in the pool in order for them to check the numbers themselves.  We got 4 of 6 a few times during the period we had the pool but that is about all.  Overall it was a good experience.  My Husband and I did all the work and took on the expenses ourselves of photocopies, etc.
• CASH Only

  United States
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  Dec 27, 2003, 10:38 am

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  Clipper:

  Did you pool have a provision for cash/annuity?
• Clipper

  

  Texas
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  Dec 27, 2003, 8:38 pm

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  We went to CASH only <G>
• interceptor

  United States
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  December 11, 2003
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  Dec 27, 2003, 11:27 pm

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  i studied the texas lottery rulebook at work when i had no customers. the lottery "pool" is officially a pool whenever you all join and sign up with the state lottery commision. thay take all your names and you all put in a cashiers check each month to the lottery commision and they issue you the tickets seperatley from the population. there is a trust fund set up for the people in each pool. when they win they all win and the lotto comm knows they all won and how much to divide betwixt them all. sose no one gets ripped off
• Clipper

  

  Texas
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  Dec 28, 2003, 9:19 am

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  Rules are always changing as well.  Dont think we even had those rules long ago when my Husband and I had a Lottery Pool at his job as I dont recall them even having the option of Cash or Annuity back then.  That was something they added years later after the Lottery started in Texas in 1992.  It's been over 5 years ago that we had our Lottery Pool.
• CASH Only

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  Jan 8, 2004, 8:45 am

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  Clipper:

  Oregon had the first cash option in 1990; Ohio, the second, in 1991.
• CASH Only

  United States
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  Jan 12, 2004, 11:18 am

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  NY's cash option began in 1996; Connecticut 6/44 and PB in 1997. The cash option for Big Game (now Mega Millions) started in 1999.
• Lotto Czar

  

  Harrisburg, Pa.
  United States
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  December 23, 2003
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  Jan 28, 2004, 6:47 am

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  Play in them?  I run ours in the office.  So far, the best we did is split 6 months worth of proceeds with a $10 share. 

  Maybe I should explain how ours works:  There are 12 people in the pool.  Every week a participant takes their turn and purchases $25 worth of tickets of their choice for the pool.  [The original Pool master went around and collected $2 from everybody.--the current system is a vast improvement].  Winnings of  $60 or more at one time [change from $100] are immediately split , a $5 share.  Smaller winnings are placed into a "Bonus Jackpot" and split among the twelve players at the end of Jume and December.  Left overs buy a few extra tickets early July and January.  Originally the Jackpot was raffled off twice a year, but too many people argued who the actual winner was, and complained when someone won twice.  We used to by extra tickets with the winnings between $25 and $100; but now we just save up and split the money.

  When I took over, our rules were simplified, and everyone wins.  Not that we had made any serious money on it.  In fact with people buying an average of 5 times a year; we definitely are not winning.  I've been in it for 15 years and still working.
• GuideMe

  

  Ohio
  United States
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  February 5, 2004
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  Feb 7, 2004, 11:12 am

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  In case anyone was interested.  I know it's not free but here's a site that offers a good legal lottery pooling agreement form.

  www.groupwinlotto.com

  What's nice is that you can get the book delivered in an ebook format the same day via email.  The book is just O.K. but I was most impressed with the legal nature of the lottery agreement document.  Most of the free agreements I came across on the net didn't get into the details such as Choice of Law, Separate Counsel, Servability, Applicbility of Contract, etc.

  I used a coupon I found in a newsgroup that gave me half off so it ended up only being I think $9.95.  I don't know if it still works but the coupon was :  samplecoupon

   
• Lottery_Analyst

  

  Georgia
  United States
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  January 15, 2003
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  Feb 7, 2004, 2:35 pm

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  GuideMe,

  Do you work for or have an agreement with groupwinlotto.com?  This is the second time you have posted the above message.  Are you currently running a club yourself with family or friends?

  Lottery pooling agreements are not rocket science.  I created mine with a Lawyer friend in about 30 minutes.  The important facts to remember are:

  1) Members must be of age (18)

  2) All parties involved (Members and Club Founders) should sign contract or have contract posted in a public avenue, such as a website. If on a website, members should print out the contract for their records.

  3) Terms and conditions of the operations of the club MUST be within the contract and clarified if needed.

  4) You must apply for an EIN # with the IRS, and identify yourself as a Lottery Club or Lottery Organization.  If not, you will have serious headaches if and when your club does win a substantial amount. 

  5) Lastly, make sure to check with the state where you will be playing the lottery.  Every state has different regulations on the way they handle or pay out on Lottery Pool or Club winnings.  Some states such as New Hampshire, will cut a separate check to each individual Club member, up to 20 I believe, if you win something large.  Many other states like Georgia for example, will only pay one person or entity.  That is why you would need an EIN in Goergia to play as a pool.  I doubt the groupwinlotto provides a contract for each state that has a lottery in the United States?

  I share all this information with everyone because running a lottery club is not easy.  It requires a lot of time and work.  But I do it because I love the lottery, love meeting and playing with other people, and hopefully one day will love cashing in a winning jackpot ticket with a few friends.  Please send me a private message if you have any additional questions.

  Thanks.....

  John

  LA