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Keerock

*** Official FFA Lotto Club ***

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Official FFA Lotto Club Rules

  • The club will purchase tickets for the Mega Millions lottery.
  • Everyone in the club will pay and have an EQUAL share in any winnings.
  • All payment details will be handled via PM or email only.
  • All regular club tickets will be purchased in 5 week (10 drawing) increments
  • Ticket purchases will be done via EasyPick
  • Tickets will be scanned and posted prior to the first pick of each period.
  • Each club member will be responsible for paying $10 prior to each regular club purchase, due by 3pm ET on the Monday preceding the first drawing.
  • Any winnings from a single drawing totaling less than $500 will be accumulated to be used for funding a slush fund for purchasing larger quantities of tickets for big jackpots or other lotteries (PowerBall, etc)
  • When the Mega Millions jackpot reaches $100M or the Powerball jackpot reaches $200M, 50% of the slush fund will be used to purchase tickets for those drawings. For other purchases using the slush fund, majority vote will determine when and how many tickets to purchase
  • New club members can only join at the 5 week interval coinciding with ticket purchases
  • New club members will be required to pay the 5 week payment, their escrow, plus an amount equal to 10% of the current slush fund (that money will be added to the slush fund).
  • Members can leave the club at any time but forfeit any funds in the bonus pot/slush fund, and their escrow will be used to fund their final 5 week subscription. No refunds of any kind will be made.
  • Each member will be responsible for funding an escrow account to cover late payments. This will be due upon initial buy in to the club and again any time the escrow is used.
  • If a member does not pay their dues on time their escrow will be used to pay their fee. If they don't make a payment by the next drawing, they are out and forfeit all accumulated winnings AND escrow. If they get back in after their escrow was used, but prior to the next drawing, they have to pay the fee for the next drawing AND repay their escrow. If they don't pay both, they're out.
  • There will be a maximum of 50 members in the club.
  • A complete list of members, an escrow report and a slush fund report will be posted for each period.
  • Sending money to participate in the FFA Lotto Club constitutes agreement of all rules posted here.
  • Club members can purchase tickets on their own and are in no way obligated to share with the club should they win any money.


    TO PROTECT THE THOSE ADMINISTERING THE CLUB DO NOT MENTION IN THIS THREAD OR ANY RELATED THREADS THE FORM OF PAYMENT USED.

    Please PM me for a link to our online spreadsheet with member, payment and fund details.
Edited by Keerock

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I could get behind this.

Is there a secret handshake or decoder ring involved?

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I could get behind this.Is there a secret handshake or decoder ring involved?

Nope. The tricky thing will be getting a good way for everyone to pay, but I think that can be handled with something Wade Boggs-ish.

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I could see interest in this.

8. Majority vote will determine when and how many tickets will be purchased for large jackpots/other lotteries

May need to clarify this a little. Majority of those involved that respond or a majority of those involved (everyone may not respond to inquiries on what to do).

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just how many wade boggs cards are out there anyway?

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I could see interest in this.

8. Majority vote will determine when and how many tickets will be purchased for large jackpots/other lotteries

May need to clarify this a little. Majority of those involved that respond or a majority of those involved (everyone may not respond to inquiries on what to do).
I would say majority of those involved.

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just how many wade boggs cards are out there anyway?

:boatloads:

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2) How do we deal with someone who doesn't pay their dues in time?Thoughts? Who's in?

In.My suggestion for 2 above-in the beginning, with the smaller winnings we are destined to accumulate, set aside one 5-week entry for each person. In the event they miss a payment, the coordinator uses their setaside for the next purchase. If they don't make a payment by the next drawing, they are out and forfeit all their accumulated winnigns. If they get back in after their set aside was used, but prior to the next drawing, they have to pay the fee for the next drawing AND repay their set aside. If they don't pay both, they're out.

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2) How do we deal with someone who doesn't pay their dues in time?Thoughts? Who's in?

In.My suggestion for 2 above-in the beginning, with the smaller winnings we are destined to accumulate, set aside one 5-week entry for each person. In the event they miss a payment, the coordinator uses their setaside for the next purchase. If they don't make a payment by the next drawing, they are out and forfeit all their accumulated winnigns. If they get back in after their set aside was used, but prior to the next drawing, they have to pay the fee for the next drawing AND repay their set aside. If they don't pay both, they're out.
:thumbup::goodposting:

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jesus we are gonna need lawyers aren't we

we should probably hold a FFA lawyer draft

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IN!

Very simple to handle those that don't pay on time. if you send your $ by the designated time, you are in. IF you don't, you are not. Majority rules on when to use small winnings to purchase extra tickets in larger pots.

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can we play if we are not over 18 years old yet. my mom says it is ok.

thank you everyone, thank you friends.

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Are overseas entries a problem?

BBUUUZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ

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Why not Powerball as well as Mega Millions?

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jesus we are gonna need lawyers aren't wewe should probably hold a FFA lawyer draft

:lol: That would be fun. Like staring at paint dry fun.

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can we play if we are not over 18 years old yet. my mom says it is ok.thank you everyone, thank you friends.

welcome, Fermi!stay warm.

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It's late in the day and maybe I'm not thinking clearly, but:

4. All regular club tickets will be purchased in 5 week (10 drawing) increments

6. Each club member will be responsible for paying $20 prior to each regular club purchase

Why $20? Wouldn't it be $10 for 5 weeks? ($1 per ticket x 10 drawings)

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So how much would this be?

I'd probably be in.

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So how much would this be?I'd probably be in.

I dont carry anything smaller than hundy's can I buy 5 "sessions" at a time?

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Since this is basically an anonymous message board, what's to stop the person being paid from skipping with the proceeds from a big win? I barely trust the guy running our office pool.

Not trying to start anything, I would really like to know.

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Since this is basically an anonymous message board, what's to stop the person being paid from skipping with the proceeds from a big win? I barely trust the guy running our office pool.Not trying to start anything, I would really like to know.

Keerock is reliable.

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Since this is basically an anonymous message board, what's to stop the person being paid from skipping with the proceeds from a big win? I barely trust the guy running our office pool.Not trying to start anything, I would really like to know.

Keerock is reliable.
I don't think anyone says he isn't, but 40 million is a little different than a 200 entry fantasy football league

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can we play if we are not over 18 years old yet. my mom says it is ok.thank you everyone, thank you friends.

If this isn't :fishing: I don't know the answer to this. My initial thought would be no.

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Are overseas entries a problem?

BBUUUZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ

Don't see why not...

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Why not Powerball as well as Mega Millions?

Not really sure. I guess because a MM ticket is $1 vs Powerball at $2. That being said... if we determine that each "subscription" is, say, $2, Powerball could work too. I think the odds of winning are better with Powerball, no?

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It's late in the day and maybe I'm not thinking clearly, but:4. All regular club tickets will be purchased in 5 week (10 drawing) increments6. Each club member will be responsible for paying $20 prior to each regular club purchaseWhy $20? Wouldn't it be $10 for 5 weeks? ($1 per ticket x 10 drawings)

I just figured 2 tickets per drawing per member. Could be $10 if we wanted. I just threw it out there. I'm not making the rules, just suggesting some. Once we get a list of interested members, we can decide.

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So how much would this be?I'd probably be in.

See OP. Initial thought is $20 every 5 weeks ($4 per week).

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Since this is basically an anonymous message board, what's to stop the person being paid from skipping with the proceeds from a big win? I barely trust the guy running our office pool.Not trying to start anything, I would really like to know.

I don't blame you... I have the same reservations. I think most of us trust most of the rest of us in here (at least those we are familiar with). We could certainly make things more 'formal' (if that's what the consensus is) by collecting addresses, or even drawing up a written agreement. Whoever runs things should have a backup who lives close. If I did it, I know ShaqAttack lives near me... we could possibly work out something. That may make everyone more comfortable.

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It's late in the day and maybe I'm not thinking clearly, but:4. All regular club tickets will be purchased in 5 week (10 drawing) increments6. Each club member will be responsible for paying $20 prior to each regular club purchaseWhy $20? Wouldn't it be $10 for 5 weeks? ($1 per ticket x 10 drawings)

I just figured 2 tickets per drawing per member. Could be $10 if we wanted. I just threw it out there. I'm not making the rules, just suggesting some. Once we get a list of interested members, we can decide.
I would be interested if it were only $1 per person per drawing. $20 for 5 weeks is too much for me to swing. I'll pass unless we drop it to $10. Thanks.

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It's late in the day and maybe I'm not thinking clearly, but:4. All regular club tickets will be purchased in 5 week (10 drawing) increments6. Each club member will be responsible for paying $20 prior to each regular club purchaseWhy $20? Wouldn't it be $10 for 5 weeks? ($1 per ticket x 10 drawings)

I just figured 2 tickets per drawing per member. Could be $10 if we wanted. I just threw it out there. I'm not making the rules, just suggesting some. Once we get a list of interested members, we can decide.
I would be interested if it were only $1 per person per drawing. $20 for 5 weeks is too much for me to swing. I'll pass unless we drop it to $10. Thanks.
This is fine with me.

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It's late in the day and maybe I'm not thinking clearly, but:4. All regular club tickets will be purchased in 5 week (10 drawing) increments6. Each club member will be responsible for paying $20 prior to each regular club purchaseWhy $20? Wouldn't it be $10 for 5 weeks? ($1 per ticket x 10 drawings)

I just figured 2 tickets per drawing per member. Could be $10 if we wanted. I just threw it out there. I'm not making the rules, just suggesting some. Once we get a list of interested members, we can decide.
I would be interested if it were only $1 per person per drawing. $20 for 5 weeks is too much for me to swing. I'll pass unless we drop it to $10. Thanks.
This is fine with me.
Thirded.

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It's late in the day and maybe I'm not thinking clearly, but:4. All regular club tickets will be purchased in 5 week (10 drawing) increments6. Each club member will be responsible for paying $20 prior to each regular club purchaseWhy $20? Wouldn't it be $10 for 5 weeks? ($1 per ticket x 10 drawings)

I just figured 2 tickets per drawing per member. Could be $10 if we wanted. I just threw it out there. I'm not making the rules, just suggesting some. Once we get a list of interested members, we can decide.
I would be interested if it were only $1 per person per drawing. $20 for 5 weeks is too much for me to swing. I'll pass unless we drop it to $10. Thanks.
This is fine with me.
Thirded.
Done.

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I am on vacation starting Thursday until 4/16. I say we noodle this around and get things squared away before moving forward.

Here's another question...

After the initial group of members buys in for the first 5 week period, and once each of those members has a full escrow funded by winnings, when a new member comes along, should their initial buy in include the funding of their escrow?

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I am on vacation starting Thursday until 4/16. I say we noodle this around and get things squared away before moving forward.Here's another question...After the initial group of members buys in for the first 5 week period, and once each of those members has a full escrow funded by winnings, when a new member comes along, should their initial buy in include the funding of their escrow?

With the escrow talk, are you talking about just paying the $50 in advance? I say yes, this is the way it should be.I say that new members can't join until the start of a new 5 week period. Edited by eoMMan

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I am on vacation starting Thursday until 4/16. I say we noodle this around and get things squared away before moving forward.Here's another question...After the initial group of members buys in for the first 5 week period, and once each of those members has a full escrow funded by winnings, when a new member comes along, should their initial buy in include the funding of their escrow?

With the escrow talk, are you talking about just paying the $50 in advance? I say yes, this is the way it should be.I say that new members can't join until the start of a new 5 week period.
First... it's only $10 (escrow = the cost of one 5 week period used to cover a late payment)And, yes... the rules already state new users can only join at the start of a new period.

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I am on vacation starting Thursday until 4/16. I say we noodle this around and get things squared away before moving forward.Here's another question...After the initial group of members buys in for the first 5 week period, and once each of those members has a full escrow funded by winnings, when a new member comes along, should their initial buy in include the funding of their escrow?

With the escrow talk, are you talking about just paying the $50 in advance? I say yes, this is the way it should be.I say that new members can't join until the start of a new 5 week period.
First... it's only $10 (escrow = the cost of one 5 week period used to cover a late payment)And, yes... the rules already state new users can only join at the start of a new period.
Maybe it just makes sense for everyone to pre-fund their escrow. It might be easier than setting aside the early winnings for it. Just pay twice your first time in (wether original or subsequent joiners), and make it consistent.

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I am on vacation starting Thursday until 4/16. I say we noodle this around and get things squared away before moving forward.Here's another question...After the initial group of members buys in for the first 5 week period, and once each of those members has a full escrow funded by winnings, when a new member comes along, should their initial buy in include the funding of their escrow?

With the escrow talk, are you talking about just paying the $50 in advance? I say yes, this is the way it should be.I say that new members can't join until the start of a new 5 week period.
First... it's only $10 (escrow = the cost of one 5 week period used to cover a late payment)And, yes... the rules already state new users can only join at the start of a new period.
Maybe it just makes sense for everyone to pre-fund their escrow. It might be easier than setting aside the early winnings for it. Just pay twice your first time in (wether original or subsequent joiners), and make it consistent.
I can get on board with that...

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I am on vacation starting Thursday until 4/16. I say we noodle this around and get things squared away before moving forward.Here's another question...After the initial group of members buys in for the first 5 week period, and once each of those members has a full escrow funded by winnings, when a new member comes along, should their initial buy in include the funding of their escrow?

With the escrow talk, are you talking about just paying the $50 in advance? I say yes, this is the way it should be.I say that new members can't join until the start of a new 5 week period.
First... it's only $10 (escrow = the cost of one 5 week period used to cover a late payment)And, yes... the rules already state new users can only join at the start of a new period.
Maybe it just makes sense for everyone to pre-fund their escrow. It might be easier than setting aside the early winnings for it. Just pay twice your first time in (wether original or subsequent joiners), and make it consistent.
I can get on board with that...
+1

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I'm in!

BTW, the odds of winning the jackpot are essentially the same for both PB and MM.

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