That Lottery Office Pool May Not Be A Good Idea
Well, looky there! The Powerball jackpot is a zillion or so bucks, and the Mega Millions jackpot is a gazillion. Boy oh boy, add those up and you have... well, you have a lot!
So now that the jackpot is worthwhile (Yeah, when it's a measly $10 million it's really not worth the time, right?), lets get everybody at work together and buy a bunch of tickets. It'll increase our odds of winning the big 'un (or both!) and we can just split the booty.
Now, that is a great idea. Or is it?
A New York attorney by the name of Jason Kurland is known as the 'lottery lawyer', having represented many lottery winners, and he tells the local CBS affiliate there 'I say don't do it'.
Kurland says it can get really, really messy when a group of folks win with what is essentially a verbal or handshake deal. In other words, a handshake may be plum fine when you're talking a five buck loan, but when the pot is, oh say, a quadrillion dollars, it gets a little more sticky and heated.
But hey Mr. lawyer, the odds are a lot better when you have 20 people pitching in ten bucks apiece!
Yeah...no, not so much. Kurland says the odds are so astronomical it doesn't really make a difference. He says just buy your own and that's that.
But you say, nope...I'm joining the office pool come hell or high water!
OK, according to this expert, go ahead, but pick one leader, get photo proof of the tickets, agree to the lump sum option and be prepared to form an entity or trust.
And probably get ready to argue.