M
Mike_25
Guest
Not discussing how the winnings will be split upfront. People assume “equal shares for all” but that rarely works out in reality. Arguments erupt when winning numbers are announced.
Not vetting the other members carefully. One bad egg can ruin the whole pool by not paying in or dropping out when the jackpot gets big. Do background checks folks, it’s for your own good!
Not determining a dissolution plan. What happens if the pool loses interest or disbands? Define how remaining money will be split or what new lottery it will go to. Avoid nasty surprises down the road.
Not assigning clear rules and consequences. Late fees, removal from pool for non-payment, maximum of X number of outs - establish these ground rules in writing to keep everything above board. With luck and planning, your pool can thrive for years and enjoy many close calls or even a huge win together! But go in with eyes open to avoid dramas and hard feelings. A little prep work upfront goes a long way.
Not vetting the other members carefully. One bad egg can ruin the whole pool by not paying in or dropping out when the jackpot gets big. Do background checks folks, it’s for your own good!
Not determining a dissolution plan. What happens if the pool loses interest or disbands? Define how remaining money will be split or what new lottery it will go to. Avoid nasty surprises down the road.
Not assigning clear rules and consequences. Late fees, removal from pool for non-payment, maximum of X number of outs - establish these ground rules in writing to keep everything above board. With luck and planning, your pool can thrive for years and enjoy many close calls or even a huge win together! But go in with eyes open to avoid dramas and hard feelings. A little prep work upfront goes a long way.
