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Old 09-28-2010, 11:58 AM  
Dante84 Dante84 is offline
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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.
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Old 09-28-2010, 12:00 PM   #2
chiefs1okie chiefs1okie is offline
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For a meager 10% consulting fee against any future earnings, I will give you the definitive answer to your question.
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Old 09-28-2010, 12:02 PM   #3
Fish Fish is offline
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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....
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Old 09-28-2010, 12:03 PM   #4
The Franchise The Franchise is offline
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Get a signed contract that states that the winnings will be divided in equal parts.
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Old 09-28-2010, 12:04 PM   #5
ClevelandBronco ClevelandBronco is offline
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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.
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Old 09-28-2010, 12:11 PM   #6
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Old 09-28-2010, 12:14 PM   #7
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Quote:
Originally Posted by ClevelandBronco View Post
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.
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Old 09-28-2010, 12:15 PM   #8
Dante84 Dante84 is offline
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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.
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Old 09-28-2010, 12:20 PM   #9
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Everyone will certainly be cool unless somebody actually wins.
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Old 09-28-2010, 12:26 PM   #10
Smoke Smoke is offline
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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.
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Old 09-28-2010, 12:42 PM   #11
DTLB58 DTLB58 is offline
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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!
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Old 09-28-2010, 12:57 PM   #12
Dante84 Dante84 is offline
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Quote:
Originally Posted by DTLB58 View Post
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.
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Old 09-28-2010, 01:00 PM   #13
mlyonsd mlyonsd is offline
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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?
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Old 09-28-2010, 01:10 PM   #14
Bugeater Bugeater is offline
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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.
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Old 09-28-2010, 01:11 PM   #15
KINGPIN CHIEFS FAN KINGPIN CHIEFS FAN is offline
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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!
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