April 6 Powerball Pool

Buck F said:
If a ticket wins $1,000,000 or $100,000 are we really going to split it 70+ ways? I think it would be better to have this just for the grand prize. Also, with so many people getting multiple shares it really dilutes things. Just my two cents, I’m in on this one whatever the rules are.
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Yes.

You kinda have to, or it gets really "interesting" tax-wise for whoever possesses the ticket.
 
SpaceCritter said:
Yes.

You kinda have to, or it gets really "interesting" tax-wise for whoever possesses the ticket.
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I get that, just not sure why this group thing can’t be for the grand prize only. If there was a $1mil winner we’d be looking at around $6,500 per ticket, talk about jumping through hoops for short money.
 
A quick friendly reminder:

This is a "distributed" office lottery pool. It's no different than if a bunch of guys in an office chucked a bunch of twennies in a hat and sent Bill down to the Qwik-E-Mart to buy tickets, except that we're in physically different locations. Once you post a ticket here, even though you physically possess it, YOU NO LONGER OWN IT: WE DO, as a group.

And that matters in a number of ways (including - and especially - tax consequences).
 
Well said @SpaceCritter and thank you for keeping track of the numbers on the spreadsheet. Great job!

When you enter a “group lottery pool” you are entering in a contract to split the winnings with ALL participants. Everyone who post a photo or number agrees to split all winnings. $50K or more sure, nobody is going to shake you down for $100. Everybody’s odds increase by doing a lottery pool and will have something to talk about if we all win. 9:50pm deadline to get a ticket!
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wildwest said:
I wouldn't sweat it until we win the jackpot!😁
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I triple checked to make sure I put the correct numbers in my post.
If one of us wins, then I will be just like everyone else. I will have to show my paper ticket to collect.

If my numbers win, then everyone here would know because I posted the numbers.If I or anyone else in the pool were to try to cheat the others out of their share, then I'm sure there would be a law suit that the cheater would loose.

Not to mention that the cheater would be pissing off a lot of heavily armed people.
 
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