Precautions when playing lottery with others - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Precautions when playing lottery with others

Amarillo, TX - The multi-state Powerball jackpot has reached $550 million on drawing day.

Sales in the state of Texas have totaled more than $29 thousand per minute. Chances of winning the Powerball are 1 in more than 175 million.

And those buying tickets aren't just spending a few bucks. Many are spending $30 or more, hoping to win big. Almost $107 thousand worth of tickets have been sold in Amarillo this week.

Going in with co-workers or even friends and family is one way many panhandle residents choose to play the lotto.

Since no one won last week's Powerball worth more than $300 million dollars, ticket sales have gone up more than 1,000%.

There have been people coming in all week to purchase their numbers, but those playing with others might need to be cautious.

Bob ward is a lotto regular. He says he plays every day. Not always with his friends... But he's done it before.

"What we did, he'd go collect it and come back. He's pretty honest," Ward says.

Ward and his friends he plays with just go by each other's word to divide up their winnings. But, that's not always the best way to play.

If you're the one who walks out of the store with the ticket, you're the one who get's the winnings unless there's a contract.

"It's just like anything else. It's only after you win and you find out you're not going to get a dime from your greedy office mate, who you trusted before. And now you've realized it's just another greed head who wants all the money," Jeff Blackburn, a local lawyer says.

Blackburn says a contract is the only way to insure you get your share of winnings.

"Everybody is your best friend until you make a lot of money. Then, everyone hates each other because they all want a slice of that pie. Okay," Blackburn says.

Getting a contract between everyone involved is simple. It can be just as easy as going online.

"Probably somewhere on the internet you would be able to find some model contract for an office lotto thing. Just print that out and use it," Blackburn says.

Blackburn says in most cases he has seen a majority of winnings get eaten up by lawyer fees when the matter is taken to court. He says to save yourself with a contract.

Powered by Frankly