One way to increase your odds of winning a Powerball jackpot is by playing in bulk with colleagues in an office pool.
You love playing Powerball and maybe even consider yourself to be a regular player. If only there were a way to increase your odds of winning without spending more on tickets. Ah, but there is.
Co-working colleagues set up Powerball office pools all the time. And you’ve probably seen the headlines of large groups winning it big. But how should you go about setting up your own office pool? Are there rules or guidelines to follow? And with so many people working remotely these days, it’s a little harder to walk around the office collecting cash right now. However, setting up an office Powerball pool doesn’t take much work at all, and it’s a great way to significantly increase your odds of winning.
Every office Powerball pool is different. But the idea is the same. A willing group of participants pitches in cash to buy as many tickets as that total pot can afford. If any of those tickets prove to be winners, the group then decides to split the pot or reinvest in another round of games. So, it’s important to recognize that while your odds of winning actually increases, the potential payout will drop. And those chances might be just fine for your group of coworkers as you consider setting up an office pool yourself.
Let’s say there are 50 people who want to play where you work. Each coworker pitches in $1, and a designated person uses the collective funds to buy Powerball tickets. If one of those tickets wins $1 million, the prize would be split evenly among the 50 employees. And in this scenario, the $1 buy-in represents a one in 50 chance to win 1/50th of the winning value.
Now let’s say that the same group of 50 fellow colleagues has the option to pitch in a dollar amount they choose. So, some contribute the dollar while others, who may be feeling especially lucky, decide to throw in five or ten dollars instead. Should one of those Powerball games win, those employees who contributed more initially would get their direct percentage portion of the win.
If you’re ready to get a Powerball office pool together, you’ll need some kind of agreement or contract in place for everyone to follow. Everyone participating should agree on what amounts are worth splitting versus rolling over into another round of play. There should also be a designated leader of the group, responsible for collecting cash, buying tickets, and communicating with the team. And with remote working popularity these days, setting up virtual payment options and communication channels are relatively easy. Make copies of every ticket purchased to disburse to everyone participating before the drawing. And it’s best to keep participation open to anyone within your organization who wants to play.
As part of an agreement for everyone to discuss before playing, you’ll want to make sure to cover a few key scenarios. Everyone playing should understand the rules of playing, losing, and winning. Should one of your tickets prove to be a jackpot doozie, you don’t want to find yourself arguing among each other about who’s collecting the prize, how the split happens, and whether or not to engage in local publicity. Iron out all of those potential situations ahead of time and in writing to avoid disputes later.
Getting an office pool together for Powerball is relatively easy. Be sure to outline your plans for play and good luck! Your group might be the next featured in national headlines!