If you go down this route, you may also want your lottery pool contract to waive liability if the person buying the tickets accidentally chooses the wrong numbers. Imagine the bad feelings when the wrong numbers were bought and won the good ones! A lottery pool contract simply describes how the pool is run, so everyone is on the same page and knows what to expect. Once you have designed a legal document, it is important that everyone reads it, make sure everyone understands it (don`t let anyone pass!), and then let each member sign it. You can give weight to the contract by having the signatures of a third party not involved (even more so if the third notary is!) Your lottery manager should keep all copies. Everyone connects to a lottery pool in the hope of winning a jackpot, but you are much more likely to win a smaller prize. In your lottery pool contract, you must clearly state what happens to low dollar prizes. 8. We recognize that the payment of lottery winnings is made in accordance with state rules and lottery rules based on [State of origin of lottery pool members]. If the lottery tickets that are the subject of this agreement give rise to one or more prizes for which the provisions of the lottery authorize a direct payment, a direct payment should be requested. Where such rules allow the payment of the prize to a single individual, the designated agent must claim and maintain the price for the benefit of all the co-owners.
7. We agree to designate [the name of the lottery pool manager] who is a party to this agreement as the designated representative of all parties (co-owners) of this agreement, and he is entitled to act on our behalf. Other lottery pools keep it easy by creating an equal division; Each member deposits the same amount of money and each person receives the same amount in the event of a profit. Lottery pools are an effective way to increase your chances of winning the lottery without spending extra money. They can also raise morale in the workplace, bring neighbours closer together and tell members of an organization. But there is also the potential of a lottery pool to create hard feelings. To avoid this, you need a pool lottery contract. Before you start writing a legal document, you want to gather the information you need. Here are some of the questions you want to answer in your contract. Hello, I found your things quite useful, but you can improve it by answering my question – )) how many lottery winners have chosen their own numbers? Do you know of a website where you can find the percentage of lottery or Powerball winners who have selected their own numbers or made a quick selection? 3. Tickets that are the subject of this Contract consist of entries [numbers] in the draw for the [name of the lottery] to be held on [drawing day].