February 1, 2011 – April 30, 2011
LOTTERY POOL #14 RESULTS – MEGA MILLIONS AND POWERBALL
* Jackpot figures are estimates from lottery officials. Mega Millions annuities are paid out over 25 years, Powerball annuities over 30. Cash values are paid out immediately. Jackpots actually won are shown in gold.
** "Cash Value of 1 Share After Taxes" is the estimated after tax winnings of each share if we take our winnings in cash, which almost all winners do. Taxes are estimated at 35%.
*** The amounts shown here are believed to be accurate, but are for informational purposes only. Actual winnings will be known when tickets are redeemed at the end of the pool, and will be reported to participants at that time.
RULES AND PROCEDURES
8/2/10
By contributing to the pool, players agree that it will be conducted according to these rules and procedures. If you object to anything in here, please let Skip Sander know so he can try to make adjustments. If he can't, you agree that any unresolved disputes or disagreements will be settled forever by the return of your contribution to the pool.
Not Part of The USS Rankin Association
This pool is NOT an activity of The USS Rankin Association. It is exclusively conducted by and for those contributing to the pool.
Skip Sander in Charge
The pool is conducted by Louis “Skip“ Sander, who endeavors to operate it in an honest and transparent way, and who has done so since Pool #1 in 2007. Pool participants agree to abide by his decisions and to hold him harmless for any action or inaction in connection with the pool or its assets. They further agree that any and all disputes between a participant and Skip Sander, the pool, or other participants, will be settled forever and in full by the refund of their contributions to the pool. In spite of the above, participants and Skip Sander agree that any dispute involving more than ten participants and any prize in excess of $100,000 will be settled by arbitration administered by the American Arbitration Association.
Purpose of the Pool
The pool exists to play the multistate Mega Millions and Powerball lotteries, and occasionally others at the discretion of Skip Sander. Winnings become the property of the pool, and are distributed among participants as described below. No person benefits financially from the pool except its participants.
Duration of the Pool
Pools run for thirteen weeks, usually beginning with the first Mega Millions or Powerball drawing of a month. Tickets are bought for every one of the 52 drawings during that period: Mega Millions drawings on Tuesdays and Fridays, and Powerball drawings on Wednesdays and Saturdays. During its life, the pool therefore has 52 chances at Jackpots and other prizes.
Bank Account
The USS Rankin Lottery Pool has an account at the Perry Branch of Citizens Bank in Pittsburgh, for the sole purpose of holding contributions to and winnings from the USS Rankin Lottery Pools, and for paying the expenses of the pools. During a pool, this account typically holds $100-$400 or so. Any pool participant can see the records of the account upon written request to Skip Sander.
Shares in the Pool
Participants contribute money to buy shares in the pool. Each $25 contributed entitles the participant to one share. In the event that the pool wins $10,000 or more, the winnings will be divided among the participants in proportion to the number of shares they own at the time of the winning drawing. Smaller winnings are put back into the pool in accordance with 'What if a Ticket Wins?', below.
These shares are not intended to be securities under the laws of Pennsylvania or any other jurisdiction. In the event that any part of these rules and procedures modifies or breaches that intent, such part is declared null and void.
Participants in the Pool
Participation is open to anyone, but Pennsylvania law limits lottery participation to those 18 years of age or older. A person becomes a participant in the pool when his or her contribution is deposited in the pool's bank account. If the pool wins a large prize before a participant's contribution has been deposited, that participant will NOT have a share in the winnings.
Each participant has a claim to a portion of the pool's winnings, based solely on the number of shares he or she owns at the time the winning drawing occurs. No participant has any larger claim because some or all of his or her suggested numbers were used on one or more lottery tickets, or for any other reason.
Contributions to the Pool
Contributions to the current pool can be made at any time to USS Rankin Lottery Pool, c/o Skip Sander, 153 Mayer Drive, Pittsburgh, PA 15237-1840. Each $25 contributed entitles the participant to one share in the pool. Make checks payable to USS Rankin Lottery Pool.
Contributions to future pools will be accepted at any time, and will be kept in a separate bank account established for the sole purpose of holding them. Such contributions must be clearly identified as applying to future pools.
Money for new pools will be collected until the last mail delivery before the first drawing of the pool, and will be deposited before that drawing. Contributions received after then will be handled at the sole discretion of Skip Sander in consultation with the contributor. Typically, they will either be returned, applied to shares in the current pool, or deposited for use in a future pool or pools.
Choosing Numbers and Lotteries
The pool participates in the multistate Powerball and Mega Millions lotteries, and occasionally in others. Skip Sander will choose lotteries and numbers as he sees fit, possibly including "Quick Picks" by the lottery machine, or numbers suggested by participants. As much as is practical, the same numbers will be played for every drawing in a pool, except that additional tickets may sometimes be bought for individual drawings. As much as practical, Skip Sander will keep all participants informed of the numbers being played in every drawing.
Buying and Handling Tickets
Tickets will be bought at the sole discretion of Skip Sander. To minimize complexity, confusion, and chance for error, he endeavors to buy tickets for all drawings at one time, though this is seldom fully possible.
When the Jackpot is large, or when there is a drawing for which a specific USS Rankin Lottery Pool does not have tickets, or for any other reason, Skip Sander may, at his sole discretion, buy one or more additional tickets for the pool, using money from its bank account.
Skip Sander endeavors to balance the numbers played, number of players, and number of tickets bought to insure that the pool "breaks even" over its life. A pool "breaks even" if the cost of buying its tickets is paid for by player contributions plus the winnings of the pool from all the drawings in its lifetime.
When a ticket is bought for the pool, Skip Sander marks its back with his signature and a rubber stamp of the USS Rankin Association's address, and its front with the number of the playslip it corresponds to. A sample appears at the bottom of this document.
From time to time Skip Sander also buys lottery tickets for himself and other people. Such tickets will NOT have the USS Rankin stamp or playslip number, and will be marked in a way to clearly differentiate them from tickets belonging to the pool.
Participants agree to hold Skip Sander harmless for the loss or theft of their contributions or tickets bought for the pool.
A pool's cash is only very briefly exposed to loss or theft. Checks (and occasionally small amounts of cash) from participants are deposited into the Pool's bank account, either at a branch bank or an ATM. When tickets are to be bought, a cash withdrawal is made via a teller at a branch in or near a store that sells lottery tickets. The cash is immediately used to buy tickets at that store, usually less than 50 paces from the teller. The maximum amount of cash exposed to loss or theft at one time is about $2,000, and it is exposed for only a short time.
Skip Sander puts all tickets into a safe soon after they are bought. Unless the pool wins a prize of $10,000 or more, the tickets stay in the safe until the pool is over, at which time they are redeemed. Winning tickets are surrendered to lottery representatives when they are redeemed. Unsurrendered tickets are kept in the safe for at least a year after the drawing to which they apply.
Informing the Participants
During the pool, Skip Sander will send each participant, by email or postal mail, a list of all the participants, including their names and contact information, plus a list of all numbers being played, plus a copy of these rules and procedures.
He will also endeavor to keep participants informed by posting information on Twitter at http://twitter.com/ussrankin, and on the USS Rankin web site at www.ussrankin.org/lottery.htm, and by sending periodic emails to participants whose email addresses are known to him.
At the end of the pool, he will send each participant, by email or postal mail, a written accounting of money received, spent, and won during the pool.
Chances of Winning a Prize
Historically, USS Rankin Lottery pools have won less than 15% of the amount spent on tickets, for a net loss of more than 85%. Since Pool #1 in 2007, the biggest winnings in one drawing have been $152. The biggest winnings during an entire 13-week pool have been under $500. On the other hand, a lot of people have gotten a lot of hope, fun, and amusement by playing in these pools.
While we hope to win a Jackpot or other large prize, the mathematical chance of our doing so is close to zero, even if we buy hundreds of tickets. Nevertheless, SOMEBODY wins sooner or later, and during a typical pool, these two lotteries pay out over $100 million in cash Jackpots. They have paid out well over $2 billion in Jackpots since the start of Pool #1 in 2007.
The mathematical chance of winning a Mega Ball Jackpot is about one in 176 million. That of winning a Powerball Jackpot is about one in 146 million. In other words, the mathematical chance of winning a Jackpot is nearly zero. With 100 tickets, a pool's mathematical chance of winning a Jackpot increases to about one in 1.5 million. To put this in perspective, it is estimated that the mathematical chance of being struck by lightning is one in 700,000. Mathematically, you are about twice as likely to be struck by lightning as this pool is to win a Jackpot in any given drawing.
The mathematical chance of winning a prize other than the Jackpot is about 1 in 36. If a ticket matches the Mega Ball, it wins at least $2. If it matches the Powerball, it wins at least $3. Because the pool buys tickets covering all possible Mega Ball and Powerball numbers, it wins something in every drawing. That's a small amount compared to the cost of the tickets, but it CAN give participants the feeling of luck or success.
While it is interesting to consider mathematical chances of winning, mathematics says nothing at all about which ticket might win a Jackpot. It calculates chances without any consideration of luck, natural or supernatural activities favoring a given player or ticket, the possibility of humans being able to visualize success or to will it, or any similar thing.
With lightning, it is widely known that you can affect your chances of being struck by standing in one place or another during a thunderstorm. With lotteries, it is not widely known how you can affect your chances of winning, but of course there are many theories, and there may be many ways. If you can help us win something big, please do.
What if a ticket wins?
These lotteries offer several ways to win between $2 and $150. A pool typically wins $150-$400 of these prizes during its lifetime. If a ticket wins one or more of them, it will be held until the end of the pool, then redeemed. The winnings from all such tickets will be deposited into the pool's bank account, and ownership of the winnings will pass to the participants in the next USS Rankin Lottery Pool, if there is one, or otherwise to The USS Rankin Association.
There are also ways of winning $10,000 to $250,000. If a ticket wins one of these prizes, the participants in the pool will be notified promptly, the ticket will be redeemed, and the winnings will be distributed among the participants in proportion to the number of shares they own at the time the winning drawing occurs.
If one of the pool's tickets wins a multimillion dollar Jackpot, the money will be distributed among the participants in proportion to the number of shares they own at the time the winning drawing occurs, under the conditions described below.
Skip Sander likes to encourage the people who sell us tickets to wish us luck. He does so by promising them the car of their choice, within reason, if one of the tickets wins a Jackpot. Players agree to contribute up to $1,000 per share toward that purpose.
If the pool wins a Jackpot, Skip Sander will hold the winning ticket until the following steps are completed:
Copies of checks for all deposits to the pool are retrieved from Citizens Bank, to confirm the identities of all players in the pool. The USS Rankin Association and Skip Sander normally purchase shares in every pool, but if either or both of them have not done so in this case, or if the records are unclear, or if there is any uncertainty about their participation in the pool, each of them will be deemed to own one share in the pool.
Players are notified by telephone. Players not reachable by telephone are notified by Certified Mail.
The pool participants engage a qualified and experienced financial advisor agreeable to them all. The purpose of the financial advisor is to advise the group about taking the winnings in cash or in the annuity offered by the lottery, and to perform other tasks normally associated with financial advisors.
The pool participants engage a Certified Public Accountant agreeable to them all. The purpose of the CPA is to determine the amounts to be distributed, to distribute the money, to make necessary tax filings, and to perform other tasks normally associated with CPAs.
The pool participants engage an attorney agreeable to them all. The purpose of the attorney is to provide legal advice and to perform other tasks normally associated with attorneys.
In the event that the pool participants do not agree on a person or persons to fill the above roles within 30 days of receiving notification of their winning status, or in any event within 60 days of the drawing of the winning ticket, Skip Sander will engage the financial advisor, CPA, and attorney.
When the above steps have been completed, or before that, if in his judgment it is in the best interests of the winners, Skip Sander will release the winning ticket to the appropriate lottery officials.
Sample Lottery Ticket with Numbers from Playslip RN M2, Showing USS Rankin Lottery Pool Markings
NOTES AND UPDATES
We post notes about this pool and other USS Rankin matters on Twitter. You should be able to see them HERE. You can see them on a regular basis by following USSRankin at Twitter.
You can see the official Pennsylvania Lottery site HERE
You can see the official Mega Millions site HERE
You can see the official Powerball site HERE
You can get a list of Powerball jackpots and winners HERE
You can get winning Powerball numbers emailed to you HERE
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