Posts Tagged Excel Help
Have you ever held a lottery pool at your work or office, but find it difficult to manage who paid, how many tickets to buy and how much everyone won?
This Microsoft Excel document will help you manage all of your MegaMillions Lottery tickets for your lottery pool.
Unfortunately this Lottery Pool Calculator will only work with the MegaMillions Lottery, which is featured in the follow states: California, Georgia, Illinois, Maryland, Massachusetts, Michigan, New Jersey, New York, Ohio, Texas, Virginia, and Washington.
For more details on the MegaMillions, click here.
What is a Lottery Pool?
A Lottery Pool is a group of people that all contribute a relatively small amount of money (i.e – $5 each) to a pool to purchase lottery tickets. The Lottery Pool moderator purchases “easy pick” tickets with all of the money collected. All of the earnings from the winning tickets is then evenly distributed to all of the members of the lottery pool.
- 20 people contribute $5 each for a total of $100 or 100 lottery tickets.
- Of the tickets purchased, 5 are worth $10, 2 are worth $1000, and 1 is worth $15,000.
- That’s a grand total of: $16,050.
- Split that evenly between the 20 people and each member of the lottery pool gets $802.50.
How to use this Lottery Pool Calculator:
There is 3 sheets in the Excel document; MegaMillions Calculator, Lottery Ticket Numbers, and Group Members.
Start on the MegaMillions Calculator sheet. In the yellow cell, type in the contributing price of each member.
Next click on the Group Members sheet. Type in the name and contact information for each participating member. As you collect the money from each member, mark them as Paid, by selecting Yes from the drop-down box.
After you’ve collected all of the money from the group members, click on the Lottery Ticket Numbers sheet. It will tell you how many tickets you need to buy.
Purchase the lottery tickets with the collected money and on the Lottery Ticket Numbers sheet type in the numbers for each Lottery ticket (yes, it can be time consuming if you bought a lot of tickets!). You’ll notice that the Lottery Pool Calculator will keep track of how many tickets you have left to enter.
Once you’ve completed adding all of your purchased lottery ticket numbers, wait for the big night, the winning numbers. When the winning numbers are announced, click on the MegaMillions Calculator sheet and type in the winning numbers in the green cells. Also type in the Jackpot (in millions) in the blue cell.
Now here’s the fun part…
Select “Yes” for Activate Results (in the red cell). This will output your winning results and how much each member of the pool should receive.
To see the winning tickets, click on the Lottery Ticket Numbers sheet and you’ll notice the highlighted rows for the winning tickets. The color of the highlight corresponds to the winning value found on the MegaMillions Calculator sheet.
That’s it! Collect your earnings, distribute them equally between the group members, rinse and repeat!
08-09-2010 UPDATE! I’ve removed the password on the lottery pool calculator, so you can now edit it!
If you’ve revised the Lottery Pool Calculator for other lotteries and would like to share, please email me and I would love to share your version with the community!
Download MegaMillions Lottery Pool Calculator:
This program is free software: you can redistribute it and/or modify
it under the terms of the GNU General Public License as published by
the Free Software Foundation, either version 3 of the License, or
(at your option) any later version.
This program is distributed in the hope that it will be useful,
but WITHOUT ANY WARRANTY; without even the implied warranty of
MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. See the
GNU General Public License for more details.