USS Rankin Lottery Pool #8

USS Rankin Lottery Pool

USS Rankin Lottery Pool #8

This is the complete web page of a past lottery pool. It is here for historical purposes only. The rules, procedures, and other information on this page do not necessarily apply to other pools.

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This page provides details about the USS Rankin Lottery Pool running from August 1, 2009 through October 28, 2009. Information about previous pools can be found HERE.

ABOUT THE USS RANKIN LOTTERY POOL

We play every drawing in the multistate Powerball lottery, usually from Pennsylvania, but occasionally from elsewhere. A new pool starts every three months. Winning numbers, the pool's winnings, news, etc. are listed publicly below and on Twitter at USSRankin. Our detailed rules and procedures are shown at the bottom of this page.

Anyone can join our pool, but the maximum number of players is 80. Most of the players are from The USS Rankin Association, but we DO seek other players, and we have some.

Players send us $25. In return they get a share in the pool's winnings for the next 26 drawings. If you want to play in the next pool, send your money to USS Rankin Lottery Pool, c/o Skip Sander, 153 Mayer Drive, Pittsburgh, PA 15237-1840. Be sure to include your email address and telephone number. Make checks payable to USS Rankin Lottery Pool.

Nobody profits from the pool except the players. Winnings of $10,000 or more are shared equally among the players in the pool. Smaller winnings, usually about $200 for a 26-week pool, are accumulated in a bank account and used to pay expenses and sometimes to buy extra tickets.

The numbers we play and the identities of our players are shared among the players, but are otherwise confidential. At the end of the pool, players receive an accounting of money received, spent, and won.

Please let us know if you have questions or comments about our pool.

Louis "Skip" Sander

USSRankin@aol.com

NOTES AND UPDATES

We post notes about this pool and other USS Rankin matters on Twitter. They should appear in the box to the right. If not, You should be able to see them HERE

You can see them all by following USSRankin at Twitter.

You can see the Pennsylvania Lottery site HERE

You can see everything about Powerball HERE

You can get a list of Powerball jackpots and winners HERE

You can get winning numbers emailed to you HERE

8/28 - OOPS! I discovered that I had posted several sets of winning numbers into the wrong drawing in the table below. I've fixed it now. No great harm was done. Whew!

9/30 - The Jackpot is pretty large now, so I bought ten extra tickets. I'll continue this for every drawing until somebody hits it. As specified in our rules, if an extra ticket wins the jackpot, the winnings are divided among everybody who has ever played in one of our pools, in proportion to their total contribution to all our pools. If we had won tonight, payouts would range from $46,000 to $935,000.

LOTTERY POOL #8 RESULTS

#	Day	Date	Jackpot Annuity Value*	Tickets Bought	Cash Value of 1 Share After Taxes **	Winning Numbers (Powerball in Red)						Our Pool's Winnings *******	Our Pool's Winnings To Date *******
1	Sat	08/01/09	$120,000,000	80	$520,000	5	37	39	46	53	8	$8.00	$8.00
2	Wed	08/05/09	$138,000,000	80	$600,000	25	34	41	46	49	29	$7.00	$15.00
3	Sat	08/08/09	$161,000,000	80	$710,000	4	33	37	45	50	11	$6.00	$21.00
4	Wed	08/12/09	$186,000,000	80	$780,000	10	25	32	34	47	5	$18.00	$39.00
5	Sat	08/15/09	$213,000,000	80	$890,000	14	15	26	32	36	12	$6.00	$45.00
6	Wed	08/19/09	$129,777,212	80	$1,050,000	14	24	31	43	51	27	$10.00	$55.00
7	Sat	08/22/09	$20,000,000	80	$85,000	3	6	20	32	51	23	$8.00	$63.00
8	Wed	08/26/09	$25,000,000	80	$110,000	1	21	23	30	43	11	$6.00	$69.00
9	Sat	08/29/09	$33,000,000	80	$145,000	1	20	37	52	53	33	$7.00	$76.00
10	Wed	09/02/09	$45,000,000	80	$195,000	18	23	36	47	59	36	$7.00	$83.00
11	Sat	09/05/09	$57,000,000	80	$245,000	9	16	27	35	57	29	$7.00	$90.00
12	Wed	09/09/09	$67,000,000	80	$295,000	4	16	18	51	53	23	$14.00	$104.00
13	Sat	09/12/09	$81,000,000	80	$360,000	13	28	38	41	56	25	$8.00	$112.00
14	Wed	09/16/09	$95,000,000	80	$420,000	17	37	40	51	56	25	$6.00	$118.00
15	Sat	09/19/09	$112,000,000	80	$485,000	5	24	25	30	49	23	$8.00	$126.00
16	Wed	09/23/09	$129,000,000	80	$565,000	7	8	20	25	29	11	$107.00	$233.00
17	Sat	09/26/09	$150,000,000	80	$660,000	18	20	34	36	39	19	$7.00	$240.00
18	Wed	09/30/09	$170,000,000	80+10	$750,000	41	42	52	54	57	30	$7.00	$247,00
19	Sat	10/03/09	$101,160,404	80+10	$850,000	12	24	48	50	57	22	$6.00	$253.00
20	Wed	10/07/09	$20,000,000	80	$90,000	2	20	21	38	50	22	$8.00	$261.00
21	Sat	10/10/09	$25,000,000	80	$110,000	13	32	45	49	50	30	$7.00	$268.00
22	Wed	10/14/09	$16,703,508	80	$135,000	5	15	25	30	40	6	$8.00	$276.00
23	Sat	10/17/09	$20,000,000	80	$90,000	5	16	25	30	49	39	$10.00	$286.00
24	Wed	10/21/09	$25,000,000	80	$105,000	6	16	34	45	51	4	$7.00	$293.00
25	Sat	10/24/09	$31,000,000	80	$135,000	14	22	38	49	59	16	$13.00	$306.00
26	Wed	10/28/09	$41,000,000	80	$180,000	3	11	26	46	51	23	$7.00	$313.00

* All money amounts shown in this table are estimates, and can be verified only when winning tickets are redeemed. Jackpot amounts shown in white are estimated annuity values, paid out over 30 years. Jackpots actually won, if any, are shown in gold. (Sooner or later, somebody does win.) If a Jackpot was taken in cash, the amount is shown to the nearest dollar. Otherwise, it is an estimated annuity value, rounded to the nearest million.

** "Cash Value of 1 Share After Taxes" is the estimated after tax winnings of each pool member if we take our winnings in cash. (Most Jackpot winners do that, and we probably will, too.) For the lowest possible jackpot of $20,000,000 estimated annuity value and $10,000,000 cash value, if we have 75 players, each should get about $85,000 cash after 35% federal income taxes. If our pool had won the $139,421,731 cash jackpot of 3/15/08, each player's after-tax share would have been about $1,615,000.

*** Winnings and totals shown here are believed to be accurate, but occasional mistakes are made. Actual winnings will be known only at the end of the pool when tickets are redeemed.

RULES & PROCEDURES OF USS RANKIN LOTTERY POOL #8

By contributing to the pool, players agree that it will be conducted according to these rules and procedures. If you disagree with anything in here, please let Skip Sander know so he can try to fix things. 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 Association

This pool is NOT an activity of The USS Rankin Association (hereafter The Association). It is exclusively conducted by and for those contributing to the pool.

Participants in the Pool

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 your money has been deposited, you will NOT have a share in the winnings. Participation is open to anyone, but Pennsylvania law limits lottery participation to people 18 years of age or older.

Skip Sander in Charge

The pool is conducted by Skip Sander, who endeavors to operate it in an honest and transparent way, and who has a record of doing so since Pool #1 in 2007. Players agree to abide by his decisions and to hold him harmless for any action or inaction in connection with the pool. Players agree that any and all disputes between a player and Skip Sander, the pool, or other players, will be settled forever and in full by the refund of their contribution. In spite of the above, players and Skip Sander agree that any dispute involving ten or more players will be settled by arbitration administered by the American Arbitration Association.

Chances of Winning a Prize

The chance of winning a Powerball jackpot is about one in 146 million. In other words, the chance of winning a jackpot is nearly zero. (Nevertheless, SOMEBODY wins, sooner or later, and with 60 tickets, OUR chance of winning jumps up to one in 2.4 million.) Your primary reason for participating in this pool should be the fun that you and others have by participating. Just imagine, in the unlikely event that we win a Jackpot, there will be a LOT of smiling faces in the picture of all those people holding the giant check!

The chance of winning a prize other than the Jackpot is about 1 in 36. Because we buy tickets covering all possible Powerball numbers, we will win at least one small prize in every drawing. That's no big deal, but it CAN give you the feeling of luck or accomplishment.

Bank Account

The USS Rankin Lottery Pool has a checking 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. These items can be tracked by contributions and withdrawals for this account. Any player can see the records of the account at any time, upon request to Skip Sander.

Collecting Money

$25 contributions to the pool can be made to USS Rankin Lottery Pool, c/o Skip Sander, 153 Mayer Drive, Pittsburgh, PA 15237-1840. Make checks payable to USS Rankin Lottery Pool.

Pools run for three months, beginning with the first Powerball drawing of the month. Money will be collected until the mail delivery on the day of the first drawing, and deposited before the drawing. Contributions received after the deadline will be handled at the sole discretion of Skip Sander. Usually he can accommodate them to everyone's satisfaction.

Picking Numbers

The pool participates in the multistate Powerball lottery, and occasionally in others. Skip Sander will pick numbers as he sees fit, possibly including "Quick Picks" by the lottery machine. As much as is practical, the same numbers will be played for 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 will endeavor to buy tickets for all drawings at one time.

When a ticket is bought for the pool, Skip Sander marks its back with rubber stamps of his signature and the USS Rankin Association's address. He keeps all unredeemed tickets in a safe until one year after their drawing date.

From time to time Skip Sander also buys lottery tickets for himself and other people. Such tickets will NOT have the above two stamps, and will be marked it a way to clearly differentiate them from tickets belonging to the pool.

Extra Tickets

When the jackpot is large, or when there is a drawing for which a specific USS Rankin Lottery Pool does not have tickets, Skip Sander may, at his sole discretion, buy one or more tickets for the pool, using money from past winnings. Purchase of these tickets will be announced on the USS Rankin web site. If one of them wins $10,000 or more, the proceeds will be distributed to every person who has ever participated in one of our lottery pools, in proportion to that person's total contribution to all the pools. That means that anybody who has ever participated shares in the wealth.

Informing the Players

During the pool, Skip Sander will send each player, by email or postal mail, a list of all the players, 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 players informed by posting information on the USS Rankin web site at www.ussrankin.org/lottery.htm and by sending periodic emails to players whose email addresses are known to him.

At the end of the pool, he will send each player, by email or postal mail, a written accounting of money received, spent, and won during the pool.

What if a ticket wins?

The Powerball lottery offers several ways to win between $3 and $100. If a ticket wins one of these prizes, the ticket will be held until the end of the pool, then redeemed. The winnings, if any, will be deposited into the lottery pool's bank account. A pool typically wins $100-$200 of these prizes during its life.

There are also ways of winning $10,000 or $200,000. If a ticket wins one of these prizes, the participants in the winning ticket will be notified promptly, the ticket will be redeemed, and the winnings will be distributed equally among the participants.

If one of the tickets from the pool wins a multimillion dollar jackpot, the money will be distributed equally among the participants under the conditions described below.

Skip Sander likes to encourage ticket sellers to wish us luck. He does so by promising them the car of their choice, within reason, if one of the tickets hits the jackpot. Players agree to contribute up to $1,000 each toward that purpose.

If the pool wins a jackpot, Skip Sander will hold the winning ticket until the following steps are completed:

Players are notified by telephone. Players not reachable by telephone are notified by Certified Mail.

If The USS Rankin Association is a participant in the pool, its Executive Board designates a person to represent its interests and to act on its behalf.

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 one or more of the above four persons within 30 days of receiving notification of their winning status, or in any event within 45 days of the drawing of the winning ticket, Skip Sander will act as The Association's representative and 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.

Click Here for a Powerball Payout Worksheet

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