Let’s Start A Giant Powerball Jackpot Pool And Share The Winnings

Seriously, why haven't we done this already?!  Let's start a Powerball jackpot pool.  Like a giant pool, not just a few people from work. A big one with hundreds of people.  As you know, each ticket has a tiny chance of winning, but more tickets is more chances.

Everybody kicks in 2 bucks every time the jackpot gets big and if we hit, we share the winnings.  Honestly, I don't need 1.7 BILLION dollars.  If I hit that, I'd probably be dead in a few months from the celebration.  However, a cool few hundred grand or a million or two?  I think I could manage that!  Similarly, I'd love to win a thousand bucks too, but I'm not allowed.

Granted, math is totally not my strong point so someone check my work.

The new Powerball jackpot is supposed to be 1.7 billion dollars.  That's $1,700,000,000.  Suppose we get one thousand people to join in our little group.  If we hit the jackpot, we each get one point seven million dollars.  (Maybe a little less once the lottery accounts for all the other possible winners?  I dunno how that works, to be honest).  If I did that math correctly, it sounds pretty good.

$1,700,000 is a life changing sum of money for each of us thousand people!  Kids college is fund is fully funded!  In the same vein, the home renovation is more than finished.  Retirement probably comes a lot sooner too, if not immediately. Woohoo!

I suppose we could start a private group on a social network.  A group you have to be invited to join, or something like that.  After the group has got a few hundred people in it, we choose a person to manage the buying of the tickets.  We set a deadline of noon on drawing day for group members to Venmo the manager.  Could even use of those app-based lottery ticket things like Jack Pocket (I think that's what it's called).

If you didn't transfer by noon, you're not part of that group purchase of tickets.

Am I missing something?  Is this a giant legal problem waiting to happen? OR is it just that simple?