Lottery Pools - Your Thoughts??

Reply #44

Lottery_Analyst — Sat, 07 Feb 2004 19:35:44 GMT

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 we... [ More ]

Reply #43

GuideMe — Sat, 07 Feb 2004 16:12:15 GMT

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.comWhat'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 C... [ More ]

Reply #42

Lotto Czar — Wed, 28 Jan 2004 11:47:24 GMT

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... [ More ]

Reply #41

CASH Only — Mon, 12 Jan 2004 16:18:37 GMT

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.

Reply #40

CASH Only — Thu, 08 Jan 2004 13:45:34 GMT

Clipper:Oregon had the first cash option in 1990; Ohio, the second, in 1991.

Reply #39

Clipper — Sun, 28 Dec 2003 14:19:30 GMT

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.

Reply #38

interceptor — Sun, 28 Dec 2003 04:27:04 GMT

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... [ More ]

Reply #37

Clipper — Sun, 28 Dec 2003 01:38:48 GMT

We went to CASH only <G

Reply #36

CASH Only — Sat, 27 Dec 2003 15:38:34 GMT

Clipper:Did you pool have a provision for cash/annuity

Reply #35

Clipper — Fri, 26 Dec 2003 02:04:21 GMT

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... [ More ]

Reply #34

CASH Only — Thu, 25 Dec 2003 19:36:29 GMT

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

Reply #33

CASH Only — Mon, 22 Dec 2003 17:58:58 GMT

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

Reply #32

Lottery_Analyst — Thu, 18 Dec 2003 23:38:32 GMT

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

Reply #31

weshar75 — Thu, 18 Dec 2003 21:35:41 GMT

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.

Reply #30

winsumloosesum — Thu, 18 Dec 2003 20:54:41 GMT

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 wa... [ More ]

Reply #29

CASH Only — Thu, 18 Dec 2003 19:27:38 GMT

Maybe Jack Whittaker is in a pool for the $116m draw 12/20

Reply #28

CASH Only — Tue, 16 Dec 2003 13:20:04 GMT

The possible problems involving cash/annuity are one reason I don't want to get involved in lottery pools.

Reply #27

JAZZY JASPER — Tue, 16 Dec 2003 02:11:51 GMT

Personally! I'm, against them! Why, buy into, a lot of 'potential problems'. If you're 'lonely', buy, a dog

Reply #26

BobP — Mon, 01 Dec 2003 01:17:35 GMT

The only reason you should want to form a pool would be if you have a specific strategy to win, but need more money to cover the plays so you start a club to bring in investors. The only reason people would join a club is in the hope the club has someone in charge who knows more about winning lotto then they do. The last thing you need is people voting on when and how to play, the strategy should cover that. There are costs, opening a bank account for the club, scanning tickets, etc. these y... [ More ]

Reply #25

Lottery_Analyst — Sun, 30 Nov 2003 23:39:08 GMT

Sorry for the confusion....Thanks,John - LA

Reply #24

luckycat — Sun, 30 Nov 2003 22:40:13 GMT

you said to refer to lottery post where most questions would be answered.also after reading these post here it did sound different so thats why I questioned it.thanks for clearing it up. nice to know/and ask before/rather to dissapointed. green bucks to you

Reply #23

Lottery_Analyst — Sun, 30 Nov 2003 22:21:35 GMT

Hi Luckycat,When I refer to what is agreed upon at the club, I was referring to tickets only. The club members will vote on how much the standard contribution for each member will be for each individual drawing. In another words, how much it will cost for each drawing per member. The choices are $2.00, $5.00 or $10.00 per drawing. All the money will go towards purchasing tickets. For example, if we decide on $5.00 per member and we have 10 members, All $50.00 collected will go towards purch... [ More ]

Reply #22

luckycat — Sun, 30 Nov 2003 21:58:15 GMT

reading your posts at the beginning/ you said no cost just the price of a ticket/ now you say no costs EXCEPT WHAT IS AGREED ON AT THE CLUB.so is there a cost other than a ticket ? or will the rules change>alsowho buys and hold the tickets/ and will you post the ticket numbers pre drawing.the bcc has a pool contract I believe free to download if one wants to start a poolthanks for info

Reply #21

Lottery_Analyst — Sun, 30 Nov 2003 14:47:20 GMT

Hi Everyone,Thanks for your responses. Here are some answers to your questions.I have decided to start a pool or club and not a business. There will be no fees or charges outside of what we agree upon as a club. I am doing this simply because I want to win a major jackpot and I think the only way to really do this is by purchasing more tickets with others. I don't mind sharing the jackpot with others. As a matter of fact, I think it would be more fun that way. As I have mentioned before, I... [ More ]

Reply #20

RJOh — Sun, 30 Nov 2003 01:13:04 GMT

Before I retired I participated in several large pools for large jackpot amounts. If a person is respected by his co-workers and friends as an honest and fair person who will make the effort to be fair to all the participants, he will have no trouble getting people who know him to join his pool. If he can't do that, why would anyone who didn't know him want to give him their money?RJOh

Reply #19

fast eddie — Sun, 30 Nov 2003 00:49:16 GMT

Lottery pools with a close group of co-workers or friends are cool. But i'm weary of large group pools with people i dont know.

Reply #18

kbcherokee — Sun, 30 Nov 2003 00:10:44 GMT

Teo:My only thought's on your new business, and it will be a business, is how you will handle, first the money paid into buying the ticket's. Second, who will be the holding person for your Company?. Thirdly, How does a person guarentee his winnings if a winning ticket is purchased?.How will you guarentee this venture?I have only entered into a Pool with a friend or two at the most, and that was only a very few times.Chief

Reply #17

RJOh — Tue, 25 Nov 2003 01:50:50 GMT

Good luck John. If you have never organized a lottery pool among friends and people you see every day, then you are in for a real lesson on dealing with people.RJOh

Reply #16

Lottery_Analyst — Tue, 25 Nov 2003 00:29:57 GMT

Hi Todd and Everyone,Thanks for the feedback and for voting. I have decided to actually run the pool with no membership fees or charges. Plain and simple, I want to win a major lottery and in the process, help and share the experience with others. I've received a few emails from members that are interested in joining. The only cost will be the price of the tickets we purchase, divided by the number of people in the pool. I plan on writing up the rules and contract this weekend. If you are in... [ More ]

Reply #15

rundown99 — Mon, 24 Nov 2003 12:37:12 GMT

I think that one should always buy tickets alone, because fights break out in some groups over jackpots.

Reply #14

Calscorp — Mon, 24 Nov 2003 04:42:37 GMT

We used to do lottery pools at work on rhe large jackpots. Didn't win alot. Used quick-picks. I appreciated that the person in charge took the time to make copies of the tickets and distributed them to all who particapated. We had around twenty people. Best of luck.

Reply #13

Todd — Mon, 24 Nov 2003 02:53:37 GMT

My opinion on the low turn-out rate for your poll is that most people here shy away from posts and polls from someone who may be posting in order to hawk a product or service. Your quote: I am considering starting a part time business to establish pools for small groups of people that would like to play together.Additionally, many people take a dim view to most of the pool or syndicate Web sites out there. You should do some research of past message threads on this topic.

Reply #12

Lottery_Analyst — Mon, 24 Nov 2003 01:38:38 GMT

Hi Everyone,My last message on this particular subject. The total votes received were 16. 7 against and 9 for a Lottery Pool. I am surprised only 16 people voted, but I guess I should not be surprised. 16 out of 2910 is about .006% Incredible.Anyway, if anyone would like to participate or offer suggestions or has any additional questions, please shoot me an email at Lotto_dreamer2003@yahoo.com.Thanks and best of luck to all this week...Happy Winnings....Lottery Analyst

Reply #11

Lottery_Analyst — Sun, 23 Nov 2003 14:12:07 GMT

Happy Sunday Everyone,Well so far 14 members have responded and the verdict is still 50/50.7 totally against pooling and 7 that might, have participated or does participate.PLEASE VOTE!!!Thanks much,LA

Reply #10

Lottery_Analyst — Sun, 23 Nov 2003 01:49:43 GMT

Megamillionaire and Jake,Thanks for your feedback. All other members,PLEASE continue to vote. Out of 2,900 members, I was at least hoping to receive a few hundred votes either way.THANKS AGAIN......LA

Reply #9

Jake649 — Sat, 22 Nov 2003 21:55:49 GMT

I am strongly in favor of playing in lottery pools. They increase your chances of winning and in cases when the jackpot is very large, you stand to win more than enough.I would never join a pool, though, where the organizer charges a fee. I realize it takes time and effort to organize pools (I have organized several for a number of years). It is easy to find a pool where there is no fee, so why join a pool with a fee?The motive for an person to organize a pool is two fold. One, it can be fun and... [ More ]

Reply #8

megamillionaire — Sat, 22 Nov 2003 20:59:09 GMT

You should have put a, used to, catagory in there. Before I retired I ran the lottery pool at work. Why not, I bought my own tickets and by belonging to the pool my chances of winning, something, were increased. Something is always better than nothing.

Reply #7

Lottery_Analyst — Sat, 22 Nov 2003 18:10:59 GMT

Hi Again Everyone,PLEASE take a second to vote. It will help me tremendously. We have 2,906 members and so far only 8 have voted.THANKS>>>>>Lottery Analyst

Reply #6

Lottery_Analyst — Sat, 22 Nov 2003 12:51:41 GMT

Hi Everyone,Thanks to those that have responded so far. We have 3 votes of NEVER and 3 votes that might or do play. 50/50 right now. Please vote if you have not already.Thanks much to all.....LA

Reply #5

Lottery_Analyst — Sat, 22 Nov 2003 03:42:40 GMT

Hi RJOh,No secrets here. 10% was just a suggested amount. If enough people are interested and I decide to do this, I might charge 15% or 20% for Admin fees, but not more than that. I can assure you that I would NOT charge 50%.Thanks for your feedback...... Pick-4 Master,Thanks for your feedback as well.....LA

Reply #4

RJOh — Sat, 22 Nov 2003 03:25:03 GMT

Quote: Originally posted by Lottery_Analyst on November 21, 2003 I am considering starting a part time business to establish pools for small groups of people that would like to play together. For example, I would set up a pool for 5 people to play Mega Millions. Each person would contribute $5.00 and 90% of the pot would go to buying tickets and 10% for administration. So for $5.00, each person would have 22 tickets played for them and would be entitled to 1/5 of any of the winnings. This is on... [ More ]

Reply #3

Pick-4_Master — Sat, 22 Nov 2003 03:12:52 GMT

I think you misunderstood my comment I was implying thatLottery Pools would be good for players that want to win just like players who are good in the areas I mentioned but haven't had any luck on there own.Lottery Pools are good for anyone interested whether they are exeperienced at playing the game or not.

Reply #2

Lottery_Analyst — Sat, 22 Nov 2003 02:56:53 GMT

Pick-4 Master,Thanks for your reply. I disagree with your comment that Lottery Pools are good for people that are not skilled at picking their own numbers or using Lottery Software. I have always picked my own numbers and also use various software packages, not to mention my own personal systems, and I have won 5 of 6 in the GA Lotto 3 different times.The whole idea behind a Lottery Pool is to have more chances to win for less money spent. Unless you prefer to not share and keep the winnings a... [ More ]

Reply #1

Pick-4_Master — Sat, 22 Nov 2003 02:31:36 GMT

Lottery Pools are good for players that aren't experienced or skilled at selecting there own numbers and using Lottery Software.I think you have a good idea for players that may need help in those areas, I guess the method of choice would be quick-picks right

Lottery Pools - Your Thoughts??

Lottery_Analyst — Sat, 22 Nov 2003 02:04:23 GMT

Hello again Everyone,For some time now I have been thinking of basically two things related to the Lottery.1) How to consistently win more when playing the Lottery and2) How to help others win more as well.The only way that I know to truly increase your chances of winning more is simply to buy more tickets.That brings me to my reason for writing this post and poll. I am considering starting a part time business to establish pools for small groups of people that would like to play together. For e... [ More ]