Welcome Guest
Log In | Register )
You last visited December 4, 2016, 11:27 pm
All times shown are
Eastern Time (GMT-5:00)

Mega Millions Office Pool Advice

Topic closed. 15 replies. Last post 12 years ago by Tx_Mega_Player.

Page 1 of 2
PrintE-mailLink
Avatar
Greenwich, CT
United States
Member #4793
May 24, 2004
1822 Posts
Offline
Posted: June 30, 2004, 11:03 am - IP Logged

Hi all, I am trying to set up a small office pool to get financing so I can play more tickets using my own system.  Contributions would not necessarily be equal, so I would need a legal document specifying rules and payout percentages, right?  Does anyone have a fill-in-the-blanks document or know where I can find one?  Thanks for your help. 

    Todd's avatar - Cylon 2.gif
    Chief Bottle Washer
    New Jersey
    United States
    Member #1
    May 31, 2000
    23260 Posts
    Offline
    Posted: June 30, 2004, 12:47 pm - IP Logged

    If I remember correctly, the California site may have a form you can use.  However, just having anything is better than nothing.

     

    Check the State Lottery Report Card
    What grade did your lottery earn?

     

    Sign the Petition for True Lottery Drawings
    Help eliminate computerized drawings!

      Avatar

      United States
      Member #119
      February 19, 2002
      527 Posts
      Offline
      Posted: June 30, 2004, 1:38 pm - IP Logged

      Check out and look for their lotto pool headline...it might help...

      Greg


        United States
        Member #379
        June 5, 2002
        11296 Posts
        Offline
        Posted: June 30, 2004, 3:42 pm - IP Logged

        Jag:

        Make sure all the tickets are for CASH VALUE.

          Tx_Mega_Player's avatar - spider
          BIG D Texas
          United States
          Member #2539
          October 16, 2003
          148 Posts
          Offline
          Posted: June 30, 2004, 11:06 pm - IP Logged

          I think that taking uneven contributions is just asking for trouble. Money can sometimes bring out the wrost in people, and with so much money at stake people can do some unbelievable things. So even if you have something in writing, and even if everything is agreed to in advance, and even if you have an air tight case, you may still have to go to court to prove it. And in court, only the attorneys will win. I can see a situation where you have 10 people in the pool, and because of uneven contributions, 5 people will get 3 million each, 4 people will get 2 million each, and 1 person will get 1 million. That one million dollar person could sue because they feel they should get an equal share.  And I'm sure that there are thousands of attorneys that believe they can get the person an equal share. Lawsuits are rarely about right or wrong, but are instead about getting all you can get - whether you deserve it or not. So if at all possible I would advise against uneven contributions, if for no other reason than to lower the chance of a dispute within the pool.

            Avatar
            New Member
            New York City
            United States
            Member #5213
            June 23, 2004
            3 Posts
            Offline
            Posted: July 1, 2004, 10:20 am - IP Logged

            I have been running a pool of 29 people for over two years for the Mega Millions.  I collect $20 every 10 draws. That works out to two dollars per person for ten draws.  When I purchase the tickets I copy them and spend out a digital copy via email to everyone before the the first draw. I have a cap of 29. I ruled that it will not exceed 30. Of course drop out anytime but I do not any one back in. The reason is because it becomes complicated. Email me and I'll explain.   Since it is my pool I set the rules and obviously inform anyone before one joins.  Also lums sums (cash) is a plus. To be fair and not seem like a Hiltler type leader I form a commitee to get advice from in case I had to change the rules of if something seemed unfair.  I have two woman and two men.  Another thing there are no binding written agreements.  I know many would this disagree.  Here is how I see it. Since all correspondence is via email anything can be proven.  There are factors in my situation.  I've earn everyones trust, I keep reciepts and constantly encourage them to view the "books" anytime.  Anyway I can tell you more. Just email me.

            Best

            MegaMan

            JC

              Avatar
              Greenwich, CT
              United States
              Member #4793
              May 24, 2004
              1822 Posts
              Offline
              Posted: July 1, 2004, 10:28 am - IP Logged

              Thanks for your input everyone!  Yes, Cash, for sure it will be specified that all tickets are cash value!  How is life up in Mahopac?  Tx, you bring up a great point...I think it would be smarter to keep contributions equal.  Now, since this is my system, would it be legal to charge a premium?  Such as, I get 50% of all winnings, and the other 50% is split among the 3 or 4 contributors?  Would I have to contribute any money at all?  This is assuming I can get a good enough system that people will want to get in on it! 

                Phyllis's avatar - Catwoman

                United States
                Member #459
                July 8, 2002
                608 Posts
                Offline
                Posted: July 1, 2004, 10:29 am - IP Logged

                Hi color=#0000ffJAG331,

                Here is an example of the "contract" we drew up for our office pool maybe it can be of help to you.

                -----------------------------------------------------------------------

                I__________________, agree to join the _______________

                Group and commit to paying in advance each week or each month to maintain my membership for each Wednesday and Saturday drawing.  I understand that if I do not submit payment before each drawing, I will automatically be excluded from the drawing and or all furture drawings.  I fully realize it will be my own responsibility to see that all payments are made before any drawing.

                Signed_____________________Date_________

                -----------------------------------------------------------------------

                Our state's lottery is  drawn twice a week, so each member pay $2.00 per week.  To keep the bookkeeping down  (because I maintain all the records) I prefer that each person pay at the beginning of each month.  If someone is unable to give the total amount for the month they are free to give whatever but....they must pay before each drawing.    And it usually worksouts to $8.00 to $9.00 per month (it is always that number of drawings per month).

                I have a log book with list of the members.  I keep  a sheet for each month  (a form with members name and paid week.........

                example

                Member name      1st  week  2nd week  3rd week,  etc

                                          6/2--6/5    6/9--6/12  6/16--6/19  etc. 

                1.                       Pd    Pd      Pd  Pd    Pd    Pd    etc.

                2.

                3.

                4.

                etc.

                This has worked far for us, but then we've only had small winnings.

                Hope this helps and good luck. 

                Phyllis           

                 

                  RJOh's avatar - chipmunk
                  mid-Ohio
                  United States
                  Member #9
                  March 24, 2001
                  19823 Posts
                  Offline
                  Posted: July 1, 2004, 7:29 pm - IP Logged
                  Quote: Originally posted by JAG331 on July 01, 2004


                  Now, since this is my system, would it be legal to charge a premium?  Such as, I get 50% of all winnings, and the other 50% is split among the 3 or 4 contributors? 



                  That is some kind of a office pool you're trying to get together at the last minute.  I would have thought if you planned to charge a premium to the members, you would have come up with a contract and system long before the jackpot got so big.  I once participated in a $400 pool in which everyone put in $50.  I was asked to come up with the numbers and contributed $50 also.  A group of co-workers came to me because I had been playing some systems with $10-$20 and winning a few dollars once in a while and thought I could do better if I expanded one of my system.  When a large jackpot was available, my co-workers came to me and said they had the money if I had the system.  I had wanted to try it, so I was in.   Another co-worker and I spent an evening making out cards, bought tickets, made copies of them and gave copies to all the pool members.  We didn't win very much and I never did that again.  Just to see if I had gotten any better over the years, I  posted a list of 280 numbers for Tuesday's MegaMillions drawing and it didn't do any better.  Some of my co-workers ran sports boards for the play-offs and the most they ever got were 2-4 free plays.  Since I retired, I don't participate in any pools.  Good luck on convincing your co-workers to pay extra to be in the pool or give you half the winnings.

                  RJOh

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

                    Avatar
                    Greenwich, CT
                    United States
                    Member #4793
                    May 24, 2004
                    1822 Posts
                    Offline
                    Posted: July 2, 2004, 10:30 am - IP Logged

                    Than

                      Avatar
                      Texas
                      United States
                      Member #4382
                      April 18, 2004
                      278 Posts
                      Offline
                      Posted: July 2, 2004, 10:34 am - IP Logged

                      I gave this lotto thing quite some time ago and look at you all your still at it....

                        Jake649's avatar - scene sunovermountains.jpg

                        Canada
                        Member #2673
                        November 2, 2003
                        497 Posts
                        Offline
                        Posted: July 2, 2004, 11:04 am - IP Logged

                        Has anyone here joined a lottery pool where each person puts in a different amount? I have joined such pools in the past and there were no problems. I am in one now for the Mega Millions draw. I was wondering if someone has personal experience where this type of pool had problems. Did people disagree after the draw? Did they not like that some can win more than others? Was there a limit on how much each person can contribute?

                        I like these types of pools because people get to choose how much they are willing to spend or can afford. It also appears to help getting a larger pool going. In my case, everyone in the pool gets an email before the draw indicating how much each person contributed and the wins are divided up accordingly.

                        Good luck,
                        Jake

                          RJOh's avatar - chipmunk
                          mid-Ohio
                          United States
                          Member #9
                          March 24, 2001
                          19823 Posts
                          Offline
                          Posted: July 2, 2004, 2:10 pm - IP Logged

                          I was in several pools that was that way but I didn't know about it until after the drawing because the person made up or changed the rules to collect more money.  I never entered their pools again.  We never had any arguments because we never won over a few dollars.  Those type of pools work fine until they win something because 1% of nothing is worth the same as 5% of nothing. 

                          People act strange when it comes to dividing up a large sum of money.  I remember reading about a bunch of steel workers that won the Ohio lottery jackpot and everybody had paid the same amount into the pool and when they won they didn't want to give one member an equal share because he had just joined the pool 2 weeks before it hit and hadn't lost as much as the other members who had been playing over a year.  The court decided they couldn't make the new member responsible what what they lost before he joined.

                          RJOh

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


                            United States
                            Member #379
                            June 5, 2002
                            11296 Posts
                            Offline
                            Posted: July 2, 2004, 4:07 pm - IP Logged

                            Jag:

                            NY Lotto 6/59 is a joke.

                              Avatar
                              Greenwich, CT
                              United States
                              Member #4793
                              May 24, 2004
                              1822 Posts
                              Offline
                              Posted: July 2, 2004, 5:08 pm - IP Logged

                              Agreed, I only play NYLotto when the pot is higher than Mega Millions AND Powerball