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Articles
Starting a lottery club
by Regina Espinosa, WINNERonline
04 Jul 1999
money

Do you want to win more money, more often? Of course you do! A lottery club can help you do just that.

What exactly is a lottery club? A lottery club is a group of lottery players who pool their money to buy large quantities of tickets. Itís a way to increase your chances of winning.

As an individual player you will be limited by your weekly budget. More tickets means more chances of winning. Sure youíll be sharing your jackpot with your club members but sharing a jackpot is certainly better than not having one.

Who should be in your club? Most clubs start with friends, family or co-workers. Some clubs advertise for members.

After you gather your group youíll have some basic guidelines to work out. Youíll need to decide how much to spend each week on tickets and how much each member has to put into the buying fund.

Next decide how you will select your numbers. Are you going to use everyoneís favorites or use a selection system? Itís also crucial that your lottery club gets a written agreement explaining their rules and how they will collect and share the money if the group wins a prize. Itís not good enough to have a verbal agreement among the members. You never know how people will react when they win.

You can have a lawyer write it for you or do it yourself and then have a lawyer look over your groupís document and notarize it. If your group does win, this document will save a lot of legal hassles and arguments among the members.

Check the tax laws for your country too. You want to make sure you know how to get the most money while paying the least amount of taxes. Check if you need to register your group and get a tax number to avoid paying extraordinary amounts of tax if you win.

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