Tickets Advice Needed: Starting an office Powerball pool

Dante84 · 09-28-2010, 11:58 AM

Since there is an incredibly high percentage that I will win the Powerball in my lifetime, I figure that it is in my short-term best interest to start an office pool to make it happen sooner rather than later.

That being said; there are 8 people in our office. Each Tuesday or Wednesday, I will collect the other 7 members' dollars and go grab tickets over lunch. I will then send an email with all the tickets' numbers to the rest of the office.

What is the best advice for a scenario where one of the tickets wins? If everyone trusts me, I will hang on to the tickets. Do we need to sign a group contract stating that we will split the pot evenly?

Any advice in this matter would be appreciated, and the sooner the better, because we will probably win this week or next.

chiefs1okie · 09-28-2010, 12:00 PM

For a meager 10% consulting fee against any future earnings, I will give you the definitive answer to your question.

Fish · 09-28-2010, 12:02 PM

This sounds like a really horrible idea. If somebody did happen to win, you'd likely find yourself in the middle of a legal disaster.

I'd suggest a book like Mathematical Odds for Dummies instead....

**Pestilence** · 09-28-2010, 12:03 PM

Get a signed contract that states that the winnings will be divided in equal parts.

ClevelandBronco · 09-28-2010, 12:04 PM

You're going to need to put some distance between you and the ticket and the other guys. Think Jimmy Conway (Robert De Niro) after the Lufthansa heist in Goodfellas and you've got the picture.

**bevischief** · 09-28-2010, 12:11 PM

How well do you know these people?

raybec 4 · 09-28-2010, 12:14 PM

Quote:

Originally Posted by ClevelandBronco

You're going to need to put some distance between you and the ticket and the other guys. Think Jimmy Conway (Robert De Niro) after the Lufthansa heist in Goodfellas and you've got the picture.

Dante84 · 09-28-2010, 12:15 PM

I've worked with everyone here since March. We're all pretty cool. Obviously winning the lottery changes people. But we are all in positions where we would be so thrilled to win that I think everyone would be cool with it.

Also, I figure in each week's email, I attach a copy of the signed contract, and list the ticket numbers, date, time and place purchased so everything is well documented before that week's winning numbers are drawn.

Fish · 09-28-2010, 12:20 PM

Everyone will certainly be cool unless somebody actually wins.

Smoke · 09-28-2010, 12:26 PM

The problem will be: Sally didn't have a buck so Ed gave you two. Once hearing the news that the group won, Ed says **** you Sally I got two shares.

You sit back and watch your millions go to lawyers for the next 10 years.

DTLB58 · 09-28-2010, 12:42 PM

My advice, don't do it!
We did it for about a month where I use to work
And all it did was cause arguments and lost production time with people standing around talking
About what they were gonna do with the money. Please!

Dante84 · 09-28-2010, 12:57 PM

Quote:

Originally Posted by DTLB58

My advice, don't do it!
We did it for about a month where I use to work
And all it did was cause arguments and lost production time with people standing around talking
About what they were gonna do with the money. Please!

I'm not the boss, so lost production time.... is not an issue for me

Also, we will have to stipulate that if you don't have your dollar to participate, you are ineligible that week. I'll have everyone sign that morning when they pay their dollar.

SOO worth it.

**mlyonsd** · 09-28-2010, 01:00 PM

Years ago we did this, the person buying the tickets would photcopy them all onto one sheet of paper and hang it in their cube. Any winnings were put back in for extra tickets.

The part I'd have an agreement on is how big the winning ticket should be before cashing it in for splitting. $100?

**Bugeater** · 09-28-2010, 01:10 PM

The odds advantage over buying 8 tickets instead of 1 are so minute that it's not worth the trouble. Just buy one of your own every week.

KINGPIN CHIEFS FAN · 09-28-2010, 01:11 PM

I don't know where you live but in my state we draw the Powerball twice a week so if you're collecting a dollar a week from everybody you're missing out on half the drawings. That being said I collect the money at my workplace for our Powerball tickets and I photocopy the numbers and distribute them. We all know it will be split evenly among the paid players once the taxes are paid. But if we ever win the first place I'll go to is a Jewish lawyer for advice!

09-28-2010, 11:58 AM
Dante84 Tossed Salad & Scrambled Eggs Join Date: Jan 2009 Location: ATX & OPKS Casino cash: $98904	Advice Needed: Starting an office Powerball pool Since there is an incredibly high percentage that I will win the Powerball in my lifetime, I figure that it is in my short-term best interest to start an office pool to make it happen sooner rather than later. That being said; there are 8 people in our office. Each Tuesday or Wednesday, I will collect the other 7 members' dollars and go grab tickets over lunch. I will then send an email with all the tickets' numbers to the rest of the office. What is the best advice for a scenario where one of the tickets wins? If everyone trusts me, I will hang on to the tickets. Do we need to sign a group contract stating that we will split the pot evenly? Any advice in this matter would be appreciated, and the sooner the better, because we will probably win this week or next.
Posts: 7,625

09-28-2010, 12:00 PM	#2
chiefs1okie Starter Join Date: Nov 2003 Location: Tahlequah, Oklahoma Casino cash: $1524	For a meager 10% consulting fee against any future earnings, I will give you the definitive answer to your question. __________________ WE'RE GONNA BEAT THE HELL OUTTA YOU.....YOU... YOU.... YOU,YOU, YOU !!!!!!
Posts: 428

09-28-2010, 12:02 PM	#3
Fish Missing Dick Curl Join Date: Sep 2005 Casino cash: $2089321	This sounds like a really horrible idea. If somebody did happen to win, you'd likely find yourself in the middle of a legal disaster. I'd suggest a book like Mathematical Odds for Dummies instead.... __________________
Posts: 21,460

09-28-2010, 12:03 PM	#4
Pestilence Wanna go for a ride? Join Date: Dec 2006 Location: Nor-Cal Casino cash: $77570337	Get a signed contract that states that the winnings will be divided in equal parts.
Posts: 36,613

09-28-2010, 12:04 PM	#5
ClevelandBronco Banned Join Date: Sep 2006 Casino cash: $142378	You're going to need to put some distance between you and the ticket and the other guys. Think Jimmy Conway (Robert De Niro) after the Lufthansa heist in Goodfellas and you've got the picture.
Posts: 18,482

09-28-2010, 12:11 PM	#6
bevischief .... Join Date: Apr 2009 Location: Fargo Casino cash: $18266595	How well do you know these people? __________________ Lex and Terry listen to it! http://lexandterry.com/ "The republic can survive a Barack Obama. It is less likely to survive a multitude of fools such as those who made him their president." unknown Corporation Nation watch it. The Exploding Autoimmune Epidemic by Dr Trent watch it. Dr Mary's Monkey watch it.
Posts: 21,864

09-28-2010, 12:15 PM	#8
Dante84 Tossed Salad & Scrambled Eggs Join Date: Jan 2009 Location: ATX & OPKS Casino cash: $98904	I've worked with everyone here since March. We're all pretty cool. Obviously winning the lottery changes people. But we are all in positions where we would be so thrilled to win that I think everyone would be cool with it. Also, I figure in each week's email, I attach a copy of the signed contract, and list the ticket numbers, date, time and place purchased so everything is well documented before that week's winning numbers are drawn. __________________ From: ***, Scott Sent: Tuesday, August 31st, 2010 8:50 AM To: Hamilton, Brandon Subject:** RE: AC in Weight Room Brandon - gum wrapper and ball of hair on player staircase for two days now... scott
Posts: 7,625

09-28-2010, 12:20 PM	#9
Fish Missing Dick Curl Join Date: Sep 2005 Casino cash: $2089321	Everyone will certainly be cool unless somebody actually wins. __________________
Posts: 21,460

09-28-2010, 12:26 PM	#10
Smoke Registration Required Informat Join Date: Apr 2004 Location: Missouri Casino cash: $733201	The problem will be: Sally didn't have a buck so Ed gave you two. Once hearing the news that the group won, Ed says **** you Sally I got two shares. You sit back and watch your millions go to lawyers for the next 10 years.
Posts: 159

09-28-2010, 12:42 PM	#11
DTLB58 DT CARD COLLECTOR Join Date: Mar 2002 Location: Waterloo,Iowa Casino cash: $47744	My advice, don't do it! We did it for about a month where I use to work And all it did was cause arguments and lost production time with people standing around talking About what they were gonna do with the money. Please! __________________ 667 Different DT cards and counting
Posts: 6,710

09-28-2010, 01:00 PM	#13
mlyonsd Supporter Join Date: Aug 2000 Location: Spink, SD Casino cash: $30268	Years ago we did this, the person buying the tickets would photcopy them all onto one sheet of paper and hang it in their cube. Any winnings were put back in for extra tickets. The part I'd have an agreement on is how big the winning ticket should be before cashing it in for splitting. $100?
Posts: 22,358

09-28-2010, 01:10 PM	#14
Bugeater Supporter Join Date: Sep 2005 Casino cash: $601972	The odds advantage over buying 8 tickets instead of 1 are so minute that it's not worth the trouble. Just buy one of your own every week.
Posts: 49,371

09-28-2010, 01:11 PM	#15
KINGPIN CHIEFS FAN Starter Join Date: Jan 2009 Casino cash: $1899	I don't know where you live but in my state we draw the Powerball twice a week so if you're collecting a dollar a week from everybody you're missing out on half the drawings. That being said I collect the money at my workplace for our Powerball tickets and I photocopy the numbers and distribute them. We all know it will be split evenly among the paid players once the taxes are paid. But if we ever win the first place I'll go to is a Jewish lawyer for advice!
Posts: 45

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