Selling my "potential" lottery winnings?

[curiouscurious]

Kansas.

Lets say I buy a lottery ticket. Then I ask all of my friends, if you give me a nickel, I will split the jackpot, if I win, between you and everyone else who gives me a nickel. Win or lose, I keep your nickel.

200 of my friends give me a nickel. If I win the lottery, I split the jackpot 200 ways.

What prevents me from doing this? Or what allows me to do this?

 

[Antigone*]

Kansas.

Lets say I buy a lottery ticket. Then I ask all of my friends, if you give me a nickel, I will split the jackpot, if I win, between you and everyone else who gives me a nickel. Win or lose, I keep your nickel.

200 of my friends give me a nickel. If I win the lottery, I split the jackpot 200 ways.

What prevents me from doing this? Or what allows me to do this?

I would never give you a nickel. There is nothing to preclude you from scamming your 200 friends out of their nickels.

 

[curiouscurious]

Written Contract?

Antigone, thanks for the response.

I'm not familiar with binding oral contracts at all, but let's say it's part of a legally binding written contract. Then, would it work? Im not asking whether you would or wouldn't, I'm asking if it's legal.

I have zero legal background, so I'm just trying to wrap my head around this.

 

[Zigner]

Antigone, thanks for the response.

I'm not familiar with binding oral contracts at all, but let's say it's part of a legally binding written contract. Then, would it work? Im not asking whether you would or wouldn't, I'm asking if it's legal.

I have zero legal background, so I'm just trying to wrap my head around this.

What you are proposing would be illegal gambling, as you are offering a share of your winnings. If you structured this simply as a pooled purchase of the lottery ticket, it would be fine.

 

[OHRoadwarrior]

What you are proposing would be illegal gambling, as you are offering a share of your winnings. If you structured this simply as a pooled purchase of the lottery ticket, it would be fine.

Which would mean all proceeds taken in by the pool are invested in lottery tickets and does not go to you.

 

[curiouscurious]

Zigner and Warrior, thank you for your responses!

I figured it would be illegal, otherwise it would be done by now. What are the technical terms that I could search for to back this up? or is this just common knowledge that I should know?

I gather since it is gambling, does that mean casinos or establishments with a gambling license can pull this off? However, since it's the lottery, then the proceeds of such a game would go to the state?

Thank you very much.

 

[OHRoadwarrior]

They would need to discuss the terms and rules of their licensing with an appropriate gaming attorney in their state.

 

[Banned_Princess]

Is there some sort of lotto ticket shortage? Do you have some sort of extra ability to win at lotto? Why would people give you 5 cents toward never winning the lotto?

Why don't you just ask your friends for nickles. I'm sure after a while they will always just throw them at you.

 

[OHRoadwarrior]

Is there some sort of lotto ticket shortage? Do you have some sort of extra ability to win at lotto? Why would people give you 5 cents toward never winning the lotto?

Why don't you just ask your friends for nickles. I'm sure after a while they will always just throw them at you.

He thinks he can make a business by getting people to give him 5 cents for his 2 cents. An admirable markup if it was legal.