Powerball (Lotto) Club.
 

Powerball tickets are now $2.00 with slightly better odds and a guaranteed starting jackpot of $40,000,000.00
Frequently the jackpots are over $100,000,000.00.
This week it stands at $200,000,000.00.

The game is played by selecting five numbers from 1 through 59
and matching the powerball number from 1 through 35

There are various prizes paid for matching 2, 3, 4 and 5(only) numbers
but to win the grand prize you must match all 5 top numbers and the powerball.

I was wondering if anyone would be interested in starting our own Powerball Club?
It would increase our chances of winning and although the odds are still astronomic
it could be fun at a minimum expense.

This is how it would work:

We would form clubs consisting of 35 shares.
Each share would be worth 1/35 of the prize or a guarantee of at least 1.1 million grand prize depending on the jackpot. (Approximately, and assuming we were the only winners)
This week for example each share would be worth 5.7 million (Approximately, and assuming we were the only winners)

We would play 5 of the same numbers and tie them up with all of the 35 Powerball numbers.
Example would be;
1, 2, 3, 4, 5, Powerball 1
1, 2, 3, 4, 5, Powerball 2
1, 2, 3, 4, 5, Powerball 3
and so on.

Using this calculation (of course our 5 numbers would not be 1, 2, 3, 4, 5)
the chances of winning a grand prize would technically be 1 in 5,006,386 compared to 1 in 175,223,510, and using logical combinations can also increase our odds significantly but I don’t want to get into the mathematics or probabilities now.

Each club would play 10 weeks for a total of 20 games because Powerball is played twice a week.
That’s a total of 700 games.
Cost for each share will be $40.00 for 700 plays
Clubs would renew in the 8th week of play.

In order for us to do this legally for any long term we will need the following,

1. Set up and name a company or trust and open a bank account.
2. Appoint the principles, mainly an administrator, secretary and treasurer
3. Have a clear set of bylaws to include but not limited to outlining the structure and handling of secondary prize money.
4. Be sure each share holder lives in a state or district in the USA that offers Powerball. (I may be wrong on that but I don’t think I am, we can research the laws.)
5. Appoint someone to be responsible for purchasing the tickets, we should also have a stamp made with the name of our club to stamp the back of each ticket, they have advance play so the tickets would only have to be played once every 10 weeks.
6. Any other ideas or suggestions would certainly be appreciated I just hope I didn’t open a can of worms.

Anyone interested please reply here for now so we can make a determination if this has any potential.

Thanks.

count me in

No thanks. I don't know you.

It's discrimination against Canadians yet again

I'm in as long as the principles are people I know or trust.

Thanks for the fast reply.

Our potential club now consists of 2 members;
Jet Set Cat
xxxupdate

Only 33 more to go. :winkwink:

You?re more than welcome to join if we determine it?s legal.

Oh dang, I can't be included? I'm in Florida. I guess I could start my own.

Sure you can, Florida offers the Powerball so thier residents can join.

I'm also in Florida

I agree with any venture there should trust but for
that kind of money people do strange things and trust tends to dwindle.

Set up properly the club would be totally and legally binding.

We would need to set up a responsible board of directors. (The principles)

Maybe when we get enough members we could vote for an administrator?

Our administrator should be someone who is familiar with the board?s members and capable of assigning a secretary and treasurer from those who volunteer to do so.

The secretary would be responsible for updating our bylaws, of course any member can suggest changes or additions to the bylaws but only those posted by our secretary should be binding or we will end up with a ton of rules and regulations.

The treasurer would be responsible for handling the funds and purchasing the tickets.
Tickets would only have to be purchased every 10 weeks so it shouldn?t be all that time consuming but it is a very serious and responsible position.

It would also be a good idea for all concerned if the treasurer will stamp the upper front and back of the tickets with our name and post a picture of them.

This would restrict the payout to the name stamped on the ticket and if each member maintains proof of payment for that play they would have all legal rights to their fair share.

No winners Saturday, jackpot is now $250 MIL.
In process of getting together a fast set of bylaws and will also have a separate pool of 35 shares for the next drawing on Wednesday.

It will be just a one day pool (we can always extend it) at a cost of $2.00 a share.

Check back later today or tomorrow for the update.

Count me in :pimp

Xrumer is still alive and well on GFY?

By the way, that's about $53 after taxes. Just sayin, yo. :2 cents: