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FIB - Scams 101 - Ye Olde Archives

Re: How do the numbers work out?

Posted By: Eugene Mills
Friday, 4 March 2005, at 11:32 a.m.

In Response To: How do the numbers work out? (The Roadie)

> Not really. Dozens of misspellings, some of which are the kind that a
> spell checker would not find.

Good response, I correct those misspelling soon.

> Perhaps it's a good idea for you, but it depends how you plan to find
> members to join. Posting to forums like this is not likely to bring in a
> lot of business.

Finding new member shouldn't be a problem once my over site is finalized the wining results will speak for themselves, plus I do not need allot of members to make it work for everyone.

I'll recently up the number of tickets from 300 to 500 tickets.
Again there could be 1 member or 50 members in a pool, lets say there is only one member who goes out and buy 30 lottery tickets that’s only 30 chances to win a prize. Join my club with that same 30 bux and get a minimum of 500 chances spread out over 9 draws. The whole idea is to increase your chances without spending more money on tickets.

Put it anointer way I will make up the different out of my own pocket to make up different to assure every member from 1 - 50 get 500 chances, Stay tune I’m in this for the long haul.

> But I'm curious about the numbers.

> You say for $30 a month, a pool of up to 50 people will have lottery
> tickets bought for them.

> 1) That's a pool of $1500. Yet your guaranteed set of tickets is only 300
> tickets. Why the large discrepancy?

> 2) You claim:

> # No Setup Fee
> # No Handling Fee
> # No Administration Fee
> # No Fee on Lottery Club Winnings
> # No Transfer Fee
> # No Commissions Fee

> but this can't be a pure charity. Isn't the difference between whan you
> rake in and the cost of the tickets you buy a "fee"?

Not sure i understand your question, the above "No Fee's" is all about the Lotto Club not fee's for charity.

> 3) What are the tax implications for the winnings? You won't have the tax
> ID for all the members of the pool, yet you won't want to be stuck paying
> taxes on the entire pot yourself! This fact alone makes me think you
> haven't thought it all through, and it's a simple scam.

I'm currently working on the tax implications and will add it to FAQ
when finanalize, just like living in an imperfect world so to is my website quitiy as charge. But one thing is certain this is not some fly by night scam, I despise such activity.

> 4) You say:

> "Since this a non-profit site everyone wins in the
> end.For every $100 of winning at AIM (Angels-In-Motion) makes
> a 10% donation out of OUR account NOT yours you get 100%
> share of your pool winning tickets either in cash or roll-over in the
> next lotto draw."

I believe so strongly to giving to the less fortunte.... this is just
a way for me personally give MORE. Of course if my share of winning is a large sum I will give more than 10%.

No i'm not, I’m still working on the legal aspect. Right now I'm doing
this as a lottery pool like the ones you see at the work.
Again thanks for your great response.

> What do you mean: "your" account funds the donations? Why do you
> have an account at all, unless you're skimming part of the profits as a
> "fee"?

> 5) Are you registered anywhere as a non-profit? Are you filing the
> required paperwork with the state and US governments?

Lottery Club For A Good Cause

Messages in This Thread

Have you read MAAMAW'S CLICKY NOTES today?
Excuse me... You MISSED them??
At the top o' the page in the blue bars (sheesh!).

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You'll find great information in this "Read Only" Archive, but remember..... things change.
Be sure to visit the Current Message Board when you're finished here.

We're very friendly, so don't be shy... just jump right in and post your question.
Scams outnumber legitimate biz ops about a bzillion to one, so it's well worth your time.



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