Be mindful of playing in Powerball pools with your workplace colleagues and consider these pros and cons before participating.
Every week, thousands of workplace colleagues get together nationwide, pooling their resources and purchasing Powerball tickets. And you’ve likely heard the countless Powerball winner stories of entire departments and groups of employees winning big in the office Powerball pool. But before you jump into your company’s Powerball pool or explore setting one up for your workplace pals, there are some pros and cons to know. Today, we’ll share the do’s and don’ts of Powerball pools so you and your cohorts are protected and can avoid unfavorable scenarios.
Advantages of Powerball Pools at Work
There are so many workplaces that participate in Powerball pools because they’re just fun. It’s exciting to get colleagues together to dream big about splitting a jackpot. And it’s easy to pitch in, making it a convenient way for employees to collaborate and connect. In many ways, regular Powerball pools can foster an environment of inclusiveness and even boost morale. Additionally, Powerball pools can increase their odds of winning by affording more ticket purchases per drawing.
Examples of Powerball Pools Gone Right
- Team APG of Minnesota, a group of 20+ employees, celebrated a $1M Powerball win in 2020.
- Tennessee employees of La Vergne split a $50,000 Powerball prize earlier this year.
- Missouri employees of Pense Brothers Drilling split $1M 16 ways ($62,500 each) in 2021.
Disadvantages Of Powerball Pools
No one will likely put up a fuss about the workplace Powerball pool if the tickets don’t prove to be winners. But there can be significant disadvantages and some downright horror stories when there are prizes to split with the group. If you don’t manage or execute your office Powerball pool correctly, you can expect disputes and disagreements. Without clear guidelines ahead of time governing how everyone involved agrees to proceed in the event of a win, Powerball pools can get intense.
Examples of Powerball Pools Gone Wrong
- In 2009, a group of construction workers in New Jersey hit a $38.5M jackpot but didn’t know about it. The coworker who bought the winning ticket tried to keep it for himself and not tell anyone. But word got out, and the coworkers won in court.
- A salon owner tried claiming she’d purchased the winning ticket with her own money and not the Powerball pool’s collective monies, landing her in court for violating the group’s rules.
- When a New York office pool won $319M, non-participating coworkers jumped in, trying to partake in the win without success and resulting in significant workplace drama and anxiety.
Tips and Suggestions for Hassle-Free Game Play
Whether you’re participating in a company Powerball pool or looking to start one at your workplace, these are the tips and insights to consider.
- Designate a Powerball pool leader who’s responsible for collecting money, tallying participants, and purchasing the Powerball tickets.
- Make sure everyone participating gets a copy of the tickets purchased for each game of play before the drawing occurs.
- The organizer should also email a list of players for each game to the entire group. This establishes a clear understanding of who participates in a Powerball prize split based on the game drawing.
- Avoid collecting cash since digital payment (PayPal, CashApp, or Venmo) can itemize a clear payment trail of those pitching into the game. Cash can easily be lost and is harder to document.
- Don’t accept verbal “IOUs” from coworkers who want to pitch in but can’t pay you until later.
- Consider apps to help you stay organized with your office Powerball pool, especially if you have larger numbers of players.
Before starting or participating in your company’s Powerball pool, keep these pros and cons in mind. And with the right guidelines in place, everyone can rest assured that gameplay is fun, exciting, and hassle-free!