Lottery syndicates

ovetta2001

This is a bit confusing so sorry if i lose you (i'm still not quite with it).

Two girls at work buy lottery tickets together (i used to with them and am now kicking myself). Two weeks ago they won £10. Tracy wanted just to put the tenner back in but angela refused to. Sooo Tracy put in her £5 and Angela put in her £1 as normal. Sods law is that they then won a couple of grand.

Now these two have fallen out because Angela says she should get half but tracy says she only put in £1 so she should only get 1/6. Now I agree with her and i think tough !!!!!! to Angela who wanted her £5 so bad. She is even threatening to take her to court (so as you can guess work is wonderful right now).

But to the point. My manager is agreeing with Angela. I think I'm right but maybe I'm wrong

Belnahua

As far as I can see it, if they both had a pound in the draw that won, then it's 50/50. If the ticket goes on to win further then if Angela fails to cough up for the remaining 4 draws then the future wins should all go to Tracy.

This is assuming that they play a single line each?

If 6 lines were put on in one go, then it should 1/6 and 5/6.

geordie_joe

ovetta2001 wrote: »

Sooo Tracy put in her £5 and Angela put in her £1 as normal.

I think you should clarify what you mean by the above.

Are you saying they usually bought two tickets, paying a pound each, but this time one person paid a pound and the other paid 5 pounds and they bought six tickets?

ovetta2001

Correct - that is what I am saying

mountainofdebt

As far as I can see the issue is complicated because its not known which £ bought the winning ticket, further complicated because - in effect - tracy bought four more tickets than she normally would have.

I think that it would be fair if tracy had 5/6 and Angela had 1/6....but of course angela won't see it like that will she???

geordie_joe

ovetta2001 wrote: »

Correct - that is what I am saying

So Tracy bought 5 tickets and Angela bought 1.

The winnings should be divided into 6 shares, Tracy should get 5 shares and Angela should get 1.

You get out what you put in, put in 5 times more than the other person and you take out 5 times more.

geordie_joe

If anyone disagrees with my previous post could the PM me urgently.

They may be interested in my lottery scheme. It's quite simple, we put on 100 lines that are arranged to dramatically increase our chances of winning.

I put in £1 and the other person puts in £99 and we split the winnings 50/50.

[strike]I[/strike] We can't lose!

adamtango

ovetta2001 wrote: »

My manager is agreeing with Angela

Why does i matter what your manager thinks ? It sounds like a parent trying to seperate bickering kids.

Why not suggest that they donate the lot to charity? That way no squabbling and benefit to someone worse off.
But then they would need to decide on a charity that they both agree on....this could take a while....

Starz_Ceilings

Like someone has already said. You should get back the same proportion as you put in.

Divide the winnings by the number of £1.00 lines entered. The person who puts in £5.00 gets 5/6 of the winnings and the one who puts in £1.00 gets 1/6 of the winnings.

You cannot have your cake and eat it.

It is only like 6 people all putting £1.00 in each. They would all get 1/6 of the winnings each. Only in this instance the same person put £5.00 of the total £6.00 in and so gets 5/6 of the total.

[Deleted User]

How could the £1 person expect to get the same share of the winnings as the £5 person? That's crazy!! What's her logic behind this? And greed isn't logic...

moonrakerz

geordie_joe wrote: »

So Tracy bought 5 tickets and Angela bought 1.

The winnings should be divided into 6 shares, Tracy should get 5 shares and Angela should get 1.

You get out what you put in, put in 5 times more than the other person and you take out 5 times more.

Agree !

However this points out the need for a proper Lottery agreement, such as :-

http://www.lottery-syndicate-world.com/national-lottery-syndicate-agreement.html

It may sound a bit extreme to draw up a formal document between a bunch of "friends" - but when money is involved it's amazing how quickly friends can fall out.

I was in a syndicate which won a six figure sum, we had an agreement signed by all, there was absolutely no argument, every had agreed and signed up to it !