How to Organize a Lottery Pool

Step-by-Step Guide

1. 1

   Step 1: Propose general rules of play to the potential participants.

   Modify and recirculate until you have agreement on these. ,, No one should have a greater share just because they had more cash in their wallet that day. ,,,,, Be explicit about whether this is uniform for all winnings or varies by amount or taxable impact. , Everyone who agrees to participate should sign your rules document.
   
   This becomes your contract. , Only scan or photocopy winning tickets.
   
   Retain the original, non-winning tickets for a specified length of time for audit purposes.
   
   Allow any member to the pool's ticket purchases by seeing the original, non-winning tickets along with the photocopied winning tickets.
   
   This will save the pool admin a lot of time and unnecessary photocopying. , If you're planning to claim a jackpot, establish a blind trust or similar vehicle, then claim the winnings in the name of the trust. (This should be stated in the claims section of your rules.) , Only scan or photocopy winning tickets.
   
   Retain the original, non-winning tickets for a specified length of time for audit purposes.
   
   Allow any member to the pool's ticket purchases by seeing the original, non-winning tickets along with the photocopied winning tickets.
   
   This will save the pool admin a lot of time and unnecessary photocopying.
2. 2

   Step 2: Include provisions for adding & deleting members

3. 3

   Step 3: use names of the people added with a new contract each time a member is added or deleted.

4. 4

   Step 4: Fix the amount for buy-in.

5. 5

   Step 5: Designate an administrator for the "pool" (a.k.a.

6. 6

   Step 6: syndicate)

7. 7

   Step 7: Designate person(s) responsible for collecting money

8. 8

   Step 8: State clearly who can purchase tickets for the group and who will be the primary person responsible for this.

9. 9

   Step 9: Require contact information be provided for every participant.

10. 10

    Step 10: Spell out how you will claim winnings.

11. 11

    Step 11: Get it in writing.

12. 12

    Step 12: Provide copies of the winning tickets.

13. 13

    Step 13: Keep the names out of public record whenever possible.

14. 14

    Step 14: Provide copies of the winning tickets.

Detailed Guide

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