How a Lotto Pool Works, and How to Play One

what is a lotto pool

Have you seen those lottery jackpots where prizes could go up to hundreds of millions of dollars and said to yourself, "if I could get a portion of that, I'd definitely be happy?" If so, then you should consider a lottery pool. You'd ask, what is a lottery pool? A lottery or lotto pool is a means of getting more chances of winning the lottery without having to spend more money for a ticket. The concept is that a group of people will share money to spend on lottery tickets. However, they all have to agree to split the prize if they win.

It's actually a fun way of playing your favorite lottery games with a group of people. While most pools are office lotto pools, you can also start a pool with a few friends or even your family. This way, you can increase your overall chances of hitting the jackpot due to the number of tickets bought.

How does it work?

A lottery pool consists of two main roles: a leader and a member. The leader is the one who's responsible for managing the entire lottery pool. This includes collecting money, tracking the members, buying the tickets, and getting track of the winning. Usually, a lottery has only one leader, but some could also add a contributor who will help the leader in buying the tickets or any other work.

Members, on the other hand, could vary from one pool to another. By having a huge number of members in a group, a group can buy an even larger number of tickets, thus increasing the chances of winning even more. As a member, you are responsible for handling the funds to the leader before the deadline. Also as a member, you should make sure that your leader can provide you information about the logs of who paid and who hasn't yet, as well as the total number of tickets and their copies.

Lotto poolWhat is involved in a lottery pool?

In a lottery pool, the leader is the one responsible for most of the work. It includes the following:

  • Collecting money - this should be done by the leader before the designated deadline, or before the jackpot draw. Most office lotto pools will post a memo in the office to remind the entire group of deadlines. You can also choose to send alerts thru text or email.
  • Tracking the members - if you're the leader of your group, you can easily track your members using a sign-up sheet. The sheet should be completed for every draw, allowing you to track each member as well as the total money invested for the upcoming draw.
  • Buying tickets - once funds are collected, you may then proceed to buy a lottery ticket. Don't forget to provide copies of the tickets to each member of the group.
  • Tracking the winning - in the event the group wins the jackpot, the winning is then distributed according to how much a member contributed to the group. There are a few options to choose from if your group wins a lottery, depending on how huge the prize is. You could either choose to divide the very small amount among the members or allocate the prize money into buying more tickets for the next draw. 

Are lottery pools foolproof?

While lottery pools come with various advantages, it's not actually foolproof. Problems could happen such as conflicts over who actually joined and contributed to the pool, if the tickets have been purchased for the group or for personal use, and many others. There are also a few instances wherein people use unfair tactics to collect money for lottery pools and keep the cash for their own personal use without even buying a single lottery ticket. Fortunately, it is possible to avoid any possible problems through careful preparation such as having members sign a lottery pool contract.

Are they even legal?

lotto pool lawsVarious states have varying laws regarding lottery pools. Since it is considered a form of gambling, some states might prohibit such practice if gambling, in general, is prohibited there. To find out if the lottery is legal in your location, you can start by checking if your state runs a state lottery. If there is none, it could mean that gambling might be illegal. Also, check the state's laws about gambling. Other than the state law, don't forget to check if your office allows lotto pools during work hours. For some companies, it could be a ground for firing an employee. It's best to check your company's code of conduct first if there's a no-gambling policy included. If you work in a government institution, keep in mind that lottery pools inside government properties are prohibited.

If you decide to create or join a lotto pool, here are more helpful tips how to play the lottery that will help protect you and your coworkers.