How to Organize an Office Lottery Pool

Arranging an office lottery pool is an easy task that can be carried out effectively. However, the important aspects of the job are who is involved, the rules of the lottery pool, the regulations and restrictions of the company organising the lottery, federal and state tax laws and a lot more. There are a number of ways to execute an office lottery pool effectively and efficiently.

Instructions

  • 1

    Discuss and decide the rules

    Put forward the general rules of play to the prospective office employees and staff. Make some additional changes and recirculate until the potential participants agree on the proposed rules. Then include the option for adding and removing people from the lottery pool. You should use names of the members added with a new contract every time a person is added or removed from the group.

    On the other hand, set an amount for buy-in. Make sure that no member is allowed a majority share only because they possessed more money in their purse on the given day. This will ensure that the lottery pool is fair and handled with care. After that, you will have to appoint a person for the group. He will basically handle all the cash and will organize the pool as well.

  • 2

    Transparency is important

    Inform clearly who is eligible to participate in the lottery pool and then designate a member that will supervise this whole activity. Also it is necessary to keep a record of all the group members and you should ask for their contact numbers in case for emergencies. You need to explain the winning procedures to the pool members as well. Tell them whether the process is standard for all claims or varies by amount or taxable figure.

    Moreover, force everyone to sign the contract in writing on a piece of paper. Pool members who want to be part of the group should sign the rules document which is basically the contract.

  • 3

    Give copies of the winners

    Provide scanned or photocopied winning tickets. However, keep the original and other tickets for some time in case there is an audit in the company. Give permission to the members to see the original ticket purchases or the scanned ones. This will help the designated person save some time and tireless photocopying. Also make sure the names are not available publicly. If you are going for a jackpot, make use of a trust to claim the winnings.

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