Are you ready to go it alone, or power in numbers with an office pool?
PostItPlayIt CEO Drew Eckman advised to check with your company’s human resources department to make sure you aren't breaking any rules.
Eckman said it's legal to play the lottery in Texas and enter office lottery pools, but the University of Cornell Law found it's not legal for on-duty government employees or those who are on government property.
Whoever is buying the tickets needs solid documentation of the tickets bought and the lottery numbers.
“Office pools are a great way to increase your probability of winning. However, everybody’s friends until a big sum of money is up for grabs. So, make sure that you get everything documented,” said Eckman.
He said all office pool participants should make sure expectations are known upfront.
“Your first couple of calls should be an attorney and a financial advisor, so that you can set up some sort of entity, because it’s not going to be paid out to 50 individuals. It’s going to be paid out to one party and distributed from there,” said Eckman.
If your office pool should happen to win, each person will need their own lawyer and financial advisor, as well as compromise on the group's attorney and finance expert.