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Sandra Grauschopf

Want to Run a Lottery Pool for the Huge Powerball Jackpot?

By November 28, 2012

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As you've probably heard on the news, the Powerball Jackpot is huge right now. Whenever a lottery jackpot gets really big, people start wondering how to improve their odds of winning. The simplest way of improving your odds is to play more numbers. The more combinations you've played, the higher your chances of winning. But that means buying more tickets, and buying more tickets means that you'll lose more money if you don't beat the enormous odds and win. Unless, of course, you play a Lottery Pool.

But lottery pools have their downsides, too. Sometimes, lottery pools that actually hit big jackpots have been involved in messy lawsuits and allegations of fraud. To avoid these problems, read how to make a safe and fair lottery pool. A cornerstone of a lottery pool that protects its members is a lottery pool contract that each member agrees to. Read that article to find out the top questions your contract should answer.

Before you get started, you should also ask yourself: are lottery pools legal in my area and in my workplace?

Have you ever participated in a lottery pool? I'd love to hear your feedback! Share your experiences here: Are Lottery Pools Good or Bad?


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Comments

August 10, 2012 at 10:43 am
(1) Brennan Newfield says:

I hope I can win a big lottery jackpot like that someday. I’ve been spending a lot of time studying patterns and mathematical probabilities, and I think it’s entirely possible. I won $10,000 once using a system I found online (here’s a review if you’re interested) If you keep playing smart and not just picking completely random numbers, you’ll win eventually.

November 28, 2012 at 6:00 pm
(2) treknott says:

I’ve run lotto pools in the past and probably would again (I’m a student at the moment). They are fun ways to team build : it’s fun for the team to share dreams and plans. At least one person of the group has to be responsible and organized. There’s nothing wrong with the lotto, played responsibly it’s a fun use of a dollar. But don’t get carried away with it.

The only time I play is in a group and then only if the pool is over a hundred or so and the group wants in. I would not want to be the only person left working if they win after all.

November 28, 2012 at 6:55 pm
(3) Dawn says:

I run the lottery pool at work. It’s simple….. I collect the money ($5 a person), everyone who is included is on a list that I copy with the tickets. Everyone gets a copy of the numbers with their name on it. I’m sure if we won SOMEONE within the company would complain, but it just is what it is. If you paid the $5, you’re included.

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