We are the fabulous 122 (AT LOTTO) - WE WON $52

[mnewsham]

if it's 250k i expect a cut, just saying...

 

[ajtyeh]

Lol on my android. Excuse the horrible spelling

 

[Magusigne]

I'm down. 5 Dollars sent vivi.

 

[Sacraster]

also should we set a limit on how big the pool is?

 

[bignateyk]

Just ad to not anger ppl, i think vivi should clarify right now what is happening to small winnings. Some ppl may expect even 10$ back. I honestly dont care but yea. You should state rigt now somethig like if total winnings is under 5 per person it is going to charity or the next lotto.

My vote is to keep reinvesting the money in future draws until we are broke. (Any winnings under 2x that is)

 

[laxie16]

My vote is to keep reinvesting the money in future draws until we are broke.

That sounds awful, lol.

 

[busydude]

Just ad to not anger ppl, i think vivi should clarify right now what is happening to small winnings. Some ppl may expect even 10$ back. I honestly dont care but yea. You should state rigt now somethig like if total winnings is under 5 per person it is going to charity or the next lotto.

In case we win he said he will create an other thread. We can sort this out later as we have plenty of time left.

 

[Phoenix86]

I'm in!

Here's some info on "group" purchases from the mega millions site.

http://www.megamillions.com/faqs/#8
8. Can a group of people share a Mega Millions prize? Yes, Mega Millions prizes can be shared. Winners can decide how to share a prize when they claim it. Some restrictions do apply. Please check with the lottery in the state where you bought your tickets.


So that takes us to the MN site.


http://www.mnlottery.com/news_and_info/lottery_faq/
I'm in a Lottery pool at work. How many people can go together to claim a winning lottery prize?

There is no specific limit to the number of people in a pool who can claim a prize; however, each person wanting to claim part of the prize will need to fill out an individual claim form. See claiming your prize for additional details.


Which takes us to:
Sharing a prize of more than $30,000
1. At least one person claiming a share of the prize must sign the back of the ticket. This person must arrive in person at Lottery headquarters in Roseville with the winning ticket to claim the prize.
2. Each person claiming a share of the prize must complete a separate Ticket Claim Form.
3. Each person who is claiming a share of the prize and who does not arrive in person must submit a notarized Ticket Claim Form before payment can be made.
4. Prize checks cannot be processed until a Ticket Claim Form for each claimant has been received and processed.
5. Each person claiming a share of the prize will receive a check and W2-G tax form for their share of the prize.
Questions about sharing a prize of more than $30,000 should be directed to the Lottery’s Public Relations office at (651) 635-8271.


So it looks very simple in MN, where some states only allow one person to claim the prize they allow multiple and tax each person individually. I assume that is the best way of doing it, everything is only taxed once and it's done per person.

 

[ViviTheMage]

I just signed up for googlecheckout but i don't see any option to gift or give money over to someone. Any tips?

add 45 cents if you are sending via google checkout..that way it's $5 I get.

I think if we win the 250k, we split it, if we win big, we split it...if we ar efeeling generous we can do charity stuff, or reinvest.

OR we can split it, half want the money, half say charity, so we do it that way, and no one is left out.

If you want your 45 cents, or 15$ I can send it.

 

[HopJokey]

In. Funds sent.

 

[ViviTheMage]

I will update in 30 minutes, I have to head out quick.

 

[IndyColtsFan]

What's the latest count of participants?

EDIT: NM, just saw your post.

 

[amdhunter]

Missed the pool. Fuck.

 

[Phoenix86]

Also, regarding pools like this, there probably needs to be a few more rules setup prior. I know this was done shooting from the hip and that's fine but these big lotto's are going to be pretty common and people might want to do this again.

What happens to small winnings (what's small)? Recycled into the next large lotto (what's large)? What happens if 20 people from the first drop out of the and the next one wins?

I think reinvesting small winnings into the next pool makes the most sense but it's tricky. Donating to a charity is a nice idea and makes things clean from one pool to another.

 

[AMDZen]

We gonna win yo

We gonna win

 

[busydude]

When is the draw?

 

[mnewsham]

when is the draw?

11pm EDT

 

[SillyOReilly]

Also, regarding pools like this, there probably needs to be a few more rules setup prior. I know this was done shooting from the hip and that's fine but these big lotto's are going to be pretty common and people might want to do this again.

What happens to small winnings (what's small)? Recycled into the next large lotto (what's large)? What happens if 20 people from the first drop out of the and the next one wins?

I think reinvesting small winnings into the next pool makes the most sense but it's tricky. Donating to a charity is a nice idea and makes things clean from one pool to another.

What happens to those 20 people? :whiste:

 

[Phoenix86]

Missed the pool. Fuck.

He said until 5PM CST.

 

[darkxshade]

1. At least one person claiming a share of the prize must sign the back of the ticket.

Houston, we have a problem. There won't be enough space.

 

[marvdmartian]

Don't know if this has been suggested yet (sorry, not going thru 14 pages to find out!), but you might consider scanning the quick pick printouts, and posting them here, so there's no chance anyone could call cheat/foul. Just my 2-cents.

Oh and you got some money coming from me. What the heck, right?? LOL

 

[darkxshade]

What's the latest count of participants?

EDIT: NM, just saw your post.

I'd say it's roughly at about 85 right now

 

[Aharami]

http://www.fatwallet.com/blog/need-...nd-picking-the-winning-mega-millions-numbers/

pick one # ourselves? what say ATOT? 48 53 36 51 12 / 36?

 

[Golgatha]

I'm in for $5. Money sent at 2:53pm.

 

[Phoenix86]

What happens to those 20 people? :whiste:

The same website offered possibly valuable relevant information.
If I die before I receive all the payments from a Lottery prize, like the Powerball jackpot, will my heirs receive the rest of my prize money?

Yes. Payments continue to the winner's estate until exhausted. The Lottery also permits the estate to request that all remaining payments be paid immediately to the estate. This permits the estate to pay inheritance taxes immediately, avoiding any penalties, and to distribute the remainder to the heirs. The amount of the payment will be based on the present value of the securities being held by the Lottery. Then, of course, no more payments exist. There also may be certain lifetime prizes in the Lottery. These usually have a guaranteed minimum number of payments. If the winner dies before the minimum number of payments has been made, payments continue until the minimum is reached.