"By your virtue of your participation, you agree to these contractual terms"
After submission, you will be redirected to the Lotto Orientation Page.
1) Thank you for participating in this lottery pool.
2) This contract is a bit of a rush job and will be improving over time.
3) Responsibility disclaimer: in the event of a huge win, if you choose to retire early from you said position, you agree to provide sufficient notice to your employer until your replacement (s) are adequately trained. In other words, if we win, you agree to not being involved in any uncoordinated mass exodus.
4) Pool manager disclaimer: if you send me money for lotto tickets, you agree to all the rules stated in this written agreement. In the event of a disagreement, this written contract overrides and supersedes any actual or any alleged verbal agreements or perceptions. I’m happy to hear suggestions for additional rules and (or) modifications of existing rules herein.
5) As of today, 8/1/2018, I am going to a "no cash policy" for entries and will state this in the contract. The only allowed method of payment is Venmo. This is to protect everyone's interest. In such an overly litigious society--to protect against incompetence or fraud--there needs to be a defensible mechanism in place prior to our big win. By instituting a no cash policy, we can prevail against all the toothless deliverance uncle Bobs, coming out of the woodwork with their banjo's singing, "But I gave you cash and you forgot"! So to protect everyone's stake in this, that defensible mechanism is a digital paper trail of the payments so there is zero confusion who is in and who is not. Since I'm not charging to manage this pool, it also simplifies my accounting processes.
6) In the event of a payout, we all agree to accept a non-disclosure agreement of anonymity (if the state allows) and we will set up some kind of blind trust to handle disbursements. Legal & accounting fees to set up the trust and payout mechanism will come out of the total winnings.
7) There are no exceptions to this; if I allow any exceptions, this whole process could become compromised.
8) I, Jody Heath, am the pool manager. I will be responsible for purchasing all tickets. I will be purchasing all quick picks unless you have special numbers you want played. I will handle all the accounting related to this pool. I
9) Any person, including myself, has the right to purchase a ticket that is excluded from this pool. Caveat: should I purchase one or more tickets independently, I agree post copies of all the pooled tickets “prior” to the drawing. Should I miss this posting deadline--and a big win occurs--any ticket’s I purchase which were intended to be excluded from the pool, become part of the pool.
10) One lotto Pool will be defined as the people involved in one lotto drawing. I.e., Mega millions has two drawings per week (Tuesday & Friday); therefore, we can run two pools per week. Very important!!!! There are no assumptions. Just because you paid and entered the pool for one drawing, i.e., the Tuesday drawing, doesn’t mean you are automatically given a share of the pool for a future drawing. There are no continuous members. There are no assumptions that people will put up money for you if you do not pay into the pool each week. Anyone in our pool can purchase as many shares of the pool as they want; likewise, the amount of tickets a person buys will be directly proportional to his or her percentage of any winnings. I.e., suppose one of our lotto pools consists of 6 people. If 5 of them buys one ticket each while the 6th person buys five tickets, the person who bought five tickets will receive 50% of the jackpot. On the other hand, the other 5 people who bought one ticket each get 10% of the jackpot. I know......sucks huh.......only 10% of $300 million....poor us.
11) If you have tickets you don’t want included in the pool, no problem; just buy your own tickets separately. Only the tickets I buy with the money you send me are included in the pool. You will all receive access to a photocopy of all the tickets (generally prior to the drawing) so there are no questions of who's in and which tickets are included in the pool.
12) If the state agrees to handle disbursements individually, each person will possibly be able to choose lump sum or installment terms, independently of the other pool members. If for some reason, the state requires one method of payment, the we will take a vote on lump some or installment terms where majority rules.
13) While we will generally play only quick picks, I am open to playing specific numbers as well; however, If I put in the wrong number on a ticket and we lose $300 million, I’m human...... and you agree not to bolus me with KCL.
14) If for some reason, there is a complication that prevents me from purchasing tickets before the deadline, you will be given the option of a refund, or rolling your investment into the next drawing...... and you agree not to bolus me with KCL.
15) Starting with the Friday drawing, July 27, 2018, For individual winnings of > $10, I will give you the option of a cash payout or rolling your > $10 winnings into the next lottery pool and of course keeping your > $10 share linked to you. For individuals with winnings of < $10, I will automatically enroll you in the next pool with a corresponding share equal to your amount of the winnings from this or prior pools (see spreadsheet). I.e., if the next week lotto pool has a total buy-in of $99, and you earned $1 in the week prior, I will roll your $1 winnings into the pot for the next drawing. I will calculate it out as you actually chipped in at at least $1 for the pool. You will have a 1% (1/100 x 100) stake in the following lotto pot whether you choose to play or not. Should you chose to buy a $2 ticket for the next pot, then I will add your $1 credit to your $2 ticket and you will have a $3 or 2.94% (3/102x100) stake in the next pot. Sounds monotonous but it's really not; the spreadsheet handles everything for the most part.
16) By entering in this lotto pool, you agree to abide by this agreement. You acknowledge that this lotto pool is in no way sanctioned by or connected to any entity of Memorial Health System or Vituity Healthcare & Medical Staffing Services. With that said, you concede that HR will have no authority or part in mediating any disagreements related to this pool.
17) At this time, I don't want to include anyone we don't know or who does not work within our organization; however, feel free to bring in other people (at work) you know, including other units.
18) Understand that the pool manager is not a professional accountant. He has made reasonable attempts to provide accuracy in the calculations in the spreadsheet; however, in the event of a large jackpot, these calculations will be subject to verification by one or more CPA’s. If any calculation errors or found, the disbursements will be modified to the corrected calculations. For example, suppose someone Venmo'd me money prior to the deadline, and I made a clerical error of not buying that person's tickets. Since that person lived up to their end of the bargain, that person would still receive a share of the jackpot proportional to their buy-in; and to make this happen, everyone elses shares would be reduced proportionatly to what it should have been if I hadn't made the clerical error. In turn, you agree not to bolus the pool manager with KCL.
19) Now that we’re done with all the fine print, let’s go have some fun and win the lottery.
20) I will send out an email the day of the drawing as a final reminder for people who may have intended to participate but who have not.