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5/8 Lotto pool (For 5/11 pool see Vivi's thread)

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ViviTheMage said:
I like this idea, but it would also create a lot more work ... now if I could 'hire' a secretary to do that...haha.
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Put a blurb in that "by signing up via the sheet, you are accepting these terms" and leave it at that. If you win, you;ll have enough money for a lawyer anyway! ;-)
 
ViviTheMage said:
I like this idea, but it would also create a lot more work ... now if I could 'hire' a secretary to do that...haha.
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personally, I think you need to hire an armed escort or two with the leftover winnings. The thought of you traipsing around town with nearly $2k in cash and/or lottery tickets each time makes me a little nervous... 🙁
 
Gillbot said:
Put a blurb in that "by signing up via the sheet, you are accepting these terms" and leave it at that. If you win, you;ll have enough money for a lawyer anyway! ;-)
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yeah, there's got to be a way to create this type of document and have it hold up, correct?

essentially, a notarized contract that doesn't require direct signature from everyone, but entering into the agreement upon acceptance--kind of like a EULA, no?
 
ViviTheMage said:
This is the current voting basically. Round 3.1 would have no more buy ins, if we did a new round, it'd be separate from those tickets i'd purchase.
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This sounds great. Now just lay out some rules for Sat's drawing winnings and after. Personally, I don't mind paying $11 for a $10 share and $1 to vivi. I don't know if/how that would complicate things later.
 
zinfamous said:
personally, I think you need to hire an armed escort or two with the leftover winnings. The thought of you traipsing around town with nearly $2k in cash and/or lottery tickets each time makes me a little nervous... 🙁
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I haven't been too concerned, I just act normal. ...but yes it is a possibility of getting it stolen off me.

I always feel weird when other customers at the gas station are like, HOW MANY ARE YOU GETTING?!??! and they start hovering...
 
thestrangebrew1 said:
This sounds great. Now just lay out some rules for Sat's drawing winnings and after. Personally, I don't mind paying $11 for a $10 share and $1 to vivi. I don't know if/how that would complicate things later.
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Not a bad idea ...

Zargon said:
we have these at work that I use to inventory equipment
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We need it to scan the numbers though, I don't think the barcode would tell us all of the numbers on the ticket.
 
Tweak155 said:
My suggested outline for the rules:

1. Whoever runs the pool keeps at minimum $300 of winnings. For example, the winnings are $1000, the host keeps $300. If the winnings are $250, the host keeps the entire winnings.

2. a. If there are excess winnings from item 1, beyond $300 but below returning 75% share value, this remaining sum is saved for a future drawing, but all participants lose their shares and must re-enter at next drawing. The remaining sum will not contribute or affect share value, strictly number of tickets purchased. For example, there are 100 shares paid in at $10 each - this means the remaining value after subtracting $300 would have to average to under $7.50 to be continued on to next drawing.

Eg. 100 shares at $10 each and we win $1000. After subtracting out $300, $700 remains. Divide $700 by 100 shares and you have a return of $7 per share. This is below the threshold so the remaining winnings will be put toward a future drawing.

2. b. If the remaining sum does not allow for the purchase of an even number of tickets, it will be rounded down and remainder goes to host. Eg. $5 remains, $4 is spent on tickets for next drawing and $1 goes to host.

3. If the return amount is 75% or greater per share after subtracting host "fee", the winnings are distributed back to the winners.

Eg. 100 shares at $10 each and we win $1500. After subtracting out $300, $1200 remains. Divide $1200 by 100 shares and you have a return of $12 per share. This goes back to the participating players.

3. a. Winners can decide to donate their winnings to the host (on top of the hosts $300 "fee") or to the next drawing (without reserving any shares in the next drawing)


Something like that. I'm sure I missed some scenarios and I didn't get a lot of sleep last night so it probably isn't coherent, but hopefully gets the point across!
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I didn't read this all because it seems too much. A list of rules like this would scare people away. I know I wouldn't bother with a pool with so much bullshit attached to it.

Don't overcomplicate it so much. It's supposed to be fun, not a legally binding set of standards.
 
gorcorps said:
I didn't read this all because it seems too much. A list of rules like this would scare people away. I know I wouldn't bother with a pool with so much bullshit attached to it.

Don't overcomplicate it so much. It's supposed to be fun, not a legally binding set of standards.
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Really. Eff that tome.
 
Can't you just type something on the sign-up saying something like: "By signing this sign-up, you agree to not sue for any reason". I'm not a lawyer, but wouldn't this stand?

Edit: What Gillbot said at the top.
 
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