Lottery pool agreement

Lottery pool agreement

Every member agrees that:

1. The organiser collects the money, buys the tickets and keeps the payment record. They take no fee, and no share beyond their own.
2. A member is in a draw only if their money reached the organiser before the tickets for it were bought.
3. Before each draw, the organiser sends every member a photo or copy of all the pool's tickets, and keeps the original tickets safe until any prizes are claimed.
4. Prizes from a draw are split between the members in that draw, in proportion to what each paid for it.
5. Prizes under from one draw: are split as in rule 4 buy extra tickets for the next draw are saved and split when the pool ends
6. Bigger prizes are claimed by for everyone in that draw, using the lottery's group claim where it has one. If one person collects a prize for the pool, they file IRS Form 5754 so that each member is taxed on their own share, and pay every member their share within days.
7. A member can leave by telling the organiser before a draw. They keep their share of any prize from draws they paid for.
8. Every member is old enough to play in the state where the tickets are bought.
9. Changes to these rules need every member's agreement in writing, for example in a group email.

Members sign on page 2. A free template from LotteryWheels.com/lottery-pool. It isn't legal advice: for a big prize, talk to a lawyer or tax adviser before claiming.

Members

By signing, each member agrees to the rules on page 1.

Payment record

Write each draw's date at the top, and each member's payment before the tickets are bought. Only members with a payment for a draw share in its prizes.