Powerball office pool lottery contract

Lottery winners

SEPTA employees celebrate lottery pool win of $107.5 million jackpot.

Here are some books about how to increase your chances of winning and what to do if you do hit the jackpot.

Powerball officials say tickets sold in Arizona and Missouri matched all six numbers to win the record $579.9 million jackpot from last night. Chances are you were like me and dragged your defeated ass into work today knowing you didn’t win the big bucks. But don’t despair, you can never win if you don’t play. And maybe many of you are thinking about getting an office pool started so you can play every week. Before you do, here are some tips from ABC news on what and what not to do. I have also included a sample contract for you and your co-workers to sign before starting the pool. It will protect yourself from legal issues should lightning strike and your pool actually wins (a nightmare for an employer I imagine).

1. Write a Contract
2. Make sure everyone contributes an equal amount
3. Photocopy the tickets for all participants
4. Make a list of people who opted out for each week
5. Don’t rely on a verbal contract
6. Don’t anyone contribute money on behalf of someone else
7. Don’t trust the tickets to the interns
8. Don’t run multiple pools at once

Here is a sample contract you can use.

Lottery Pool Agreement
The following individuals agree to join a lottery pool for the month of ___________________, for the purpose of jointly playing the _______ State Lottery:

___________________________________________________________ and the following games of the __________ State lottery: _________
and designate, ______________ as the Lottery Pool Manager for this month. Each participant shall be liable to contribute $____ per game played. Each party to the pool shall turn over all funds for the purchase of tickets at least 24 hours prior to the closing time for purchase of tickets for each game. In the event that a person does not do so, they shall nevertheless be liable to pay in their share of the money used, if a ticket or ticket is purchased for them.

In the event that any prizes are won, the pool manager, who shall serve without compensation, shall evenly divide the prize among the participants, deducting any amount owed for a failure to pay a required share. ANY AND ALL FUNDS WON AS PRIZES SHALL BE CONSIDERED TO BE HELD IN TRUST FOR THE POOL BY THE MANAGER.

This agreement shall not automatically renew and shall expire at the end of the month stated.
In the event of a prize being won in excess of $ ______, and settlement options are provided, the vote of the majority of the pool members shall decide. If there is no majority, the pool manager shall decide.

Any member may withdraw by written notice to the pool manager, and the pool shall thereupon end, but shall remain in effect for the past games played as a pool.
This is the entire agreement of the parties and there are no agreements express or implied not stated herein. This agreement may only be altered in writing signed by all parties.

Dated: ______________________________.
Accepted and agreed: ____________________________________________________


Signed by All the Parties

via americanfinancing.net

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