Lottery Pools

Lottery Pools are a good way to increase your chances of winning that lottery jackpot.

Statistics show that around 40% of all lottery wins came from lottery pools. Most of the time, these pools are made of people from the same office or workplace who put in around $10 each week. Some of the winning pools have been operating continuously for over ten years.

Pooling resources brings a lot of power to the players. By pooling their money, they get a much larger coverage for their lottery buck. Instead of playing 10 tickets, you can be playing with 100 tickets, or more.

Usually, the ownership in the pool is based upon investment. For example, there might be ten partners in a lottery pool - each partner would contribute the same amount of money, and each partner would 'own' 10% of the winnings from the lottery tickets purchased for that Lottery Pool.

If a Lottery ticket costs $1, and each of the 10 people in the pool contributes $20, the group will share all of the winnings on 200 tickets. Each person would get 10% of the winnings, having contributed 10% of the funds.

Suddenly, you can have 200 tickets instead of 20. You can get computer - generated ticket numbers, or use your own numbers. You can 'Wheel' a large set of numbers, or just get into a Lottery Pool.

As in our example, above, a lottery pool should have an ownership that is based upon the investment that is made. If you contribute 10% of the investment, you should have a full 10% of the winnings.

Your pool should have an agreement, at least verbally, and someone in charge. Ideally, an agreement will be written and notarized, but this rarely happens. There have been disagreements before concerning the distribution of winnings, so protect yourself before you invest.

If your agreement is verbal, have it be in front of all members of the pool. If your pool is on the Internet, read all of the provisions and terms carefully before investing.

It is always better to participate with people that you know. These types of Lottery Pools and Clubs are a powerful resource. You always have to protect yourself before you send in any money if the lottery pool or club is with an unknown party.

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