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Lottery: Should you join an office pool?

Lottery: Should you join an office pool?
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The jackpots for Mega Millions and Powerball continue to soar and millions of Americans are dreaming of hitting it big.

There are now more than $2 billion up for grabs this week, Mega Millions offering a historic $1.6 billion jackpot with a drawing Tuesday.

And with no winner Saturday, the Powerball is now at $620 million.

That next drawing is Wednesday.

Now the odds are long. Really long.

You're more likely to be hit by lightning or attacked by a shark than win the Mega Millions.

So let's just suspend all reason and dream for a moment and pretend that office pool was a winner.

A winning ticket, shared among your coworkers, could mean a lawsuit -- and it could mean years in court -- to settle the winnings.

So lottery officials and lawyers say coworkers should get everything in writing before throwing money into an office pool.

Some other tips:

  • Only enter with people you trust.
  • Create rules of the pool.
  • Assign a pool leader who will track the money, and the possible winnings.
  • And make photocopies, front and back, for each pool member.
  • And remember to keep the group consistent. Don't add more people if you roll the winnings forward and buy more tickets.