This is a contract for California Lottery Pool
For the drawing on Friday 10/19/2018, for the purpose of jointly playing the MEGA Millions:
[ENTER THE NAME OF THE POOL PARTICIPANT] designates Bryant C Schroder as the Lottery Pool Manager. Each participant shall be liable to contribute $4.00 which will result in the purchase of Two (2) tickets per participant. Should any participant choose to contribute additional funds for the purchase of additional tickets, they may do so, fully understanding that by doing so, they are not increasing their proportional share of any winnings. Participants and the Lottery Pool Manager are also not in any way restricted from purchasing additional tickets outside the pool, and any winnings from those tickets are not bound by this agreement. See next section for clarification as to how the Lottery Pool tickets are determined so as to allow for this provision.
Each party to the pool shall turn over all funds for the purchase of tickets by 10/19/2018 12:00 pm, which shall allow sufficient time prior to the closing time for purchase of tickets for the drawing. Players acknowledge that Lottery Pool Manager will choose 'quick-pick' randomly assigned numbers, unless one or more participants choses to pre-fill out a card with the numbers they wish to have for their tickets which are part of the pool and provide such form to the Lottery Pool Manager prior to the deadline in this section. As soon as tickets are purchased, they will be digitally photographed, and that photograph of numbers will be distributed to all players for review and to check for winning tickets.
In the event that a person does not sign this agreement or provide funds by the deadline, tickets will NOT be purchased on their behalf, and they will no longer be considered part of the lottery pool for this drawing, and so will not reap any financial benefits or otherwise from any winnings.
In the event that any prizes are won, the Lottery Pool Manager, who shall serve without compensation, shall evenly divide the prize among the participants. ANY AND ALL FUNDS WON AS PRIZES SHALL BE CONSIDERED TO BE HELD IN TRUST FOR THE POOL BY THE LOTTERY POOL MANAGER. Distribution of funds will be determined by the total number of participants who have entered the pool, and not by their monetary contributions or number of tickets purchased.
Participant hereby agrees that only combined winning funds of all tickets in excess of amount purchased will be divided equally to be distributed back to group. If unable to divide equally, the excess amount will be used in a future drawing see (a). Any combined winning funds of less than amount purchased which are won will go towards any future drawing when a jackpot reaches (a) $100 Million Dollars.
This agreement shall not automatically renew and shall expire at the completion of the drawing.
In the event of a prize being won in excess of $ 10,000, and settlement options are provided, the vote of the majority of the pool members shall decide. If there is no majority, the Lottery Pool Manager shall decide.
Any member may withdraw by written notice to the pool manager, and their participation in the pool, subject to their tickets having not yet been purchased, shall thereupon end.
This is the entire agreement of the parties and there are no agreements express or implied not stated herein. This agreement may only be altered in writing signed by all parties.
Authorized by the Lottery Pool Manager: Bryant C. Schroder, Oct 17, 2018
Accepted and agreed by Pool Participant: , Oct 17, 2018