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Lottery Agreement

Discussion in 'Consumer Law, Contracts, Warranties' started by gearhead, Oct 27, 2018.

  1. gearhead

    gearhead Law Topic Starter New Member

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    I'm thinking about setting up a group buy for lottery tickets, specifically powerball. I was wondering if there was a way to legally setup a contract that everyone in the group signs that legally obligates them to share their lottery winnings with the group if they should win.
     
    Gendelman Law Group likes this.
  2. mightymoose

    mightymoose Moderator

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    Yes, there are ways to do it, but you should have an attorney draft such a document for you. I believe some states also have a limit of how many payees are allowed. If you have 10 in your agreement and the state will only pay 5 then you have legal problems brewing. An attorney can help avoid those kind of problems. What you are proposing is not at all unusual, but the details vary by state.
     
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  3. gearhead

    gearhead Law Topic Starter New Member

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    Yeah i'm thinking this is going to be a big group, like 500 people.
     
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  4. adjusterjack

    adjusterjack Super Moderator

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    1 - It's ludicrous to imagine you'll get hundreds of people to agree to this.

    2 - And if you could, you could be breaking your states gambling laws and federal securities laws. All the more reason to consult an attorney before embarking on this idea.
     
    Gendelman Law Group and hrforme like this.

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