TFM Club is a group of individuals that believe that by participating in a lottery pool, their chance of becoming a millionaire increase. Participating in the group does not guarantee that you will become a millionaire, but it is recognition that you share a common vision with others in the group. Participation is completely voluntary. A choice to participate or failure to participate in a particular group or drawing is the sole responsibility of each individual.
There may be multiple groups of TFM Clubs at any given time, depending on participation in various lottery drawings. For example, there may be a group participating in a MegaMillions drawing at the same time as a group participating in a PowerBall drawing. There also may be a group from a previous that carries over into a consecutive month in which another group is also participating. While individuals may be members of multiple groups, the groups are not otherwise related. Therefore, if one group wins, members of another group are not entitled to any portion of the other group's winning funds. A carryover may occur if a group wins a small sum of money that is reinvested into a few tickets of a latter drawing.
You must be an acquaintance of TFMC's organizer. While you may not know other members, no one unfamiliar to the organizer will be permitted to participate.
Participation is voluntary. The organizer is not responsible for solicitation of your participation in any drawing or renewing your participation in succeeding drawings.
Your participation in a particular TFMC group is acknowledged when funds are presented to the organizer by the deadline for that drawing.
Groups may be based on the drawing (i.e. PowerBall or MegaMillions) and the periods, typically the entire month. Special drawing groups may also be organized.
Each upcoming drawing will be posted here, with an entry deadline indicated. The cost of participation will be based on the number of draws during the upcoming month. The deadline date will allow time for purchase of the tickets and the posting of the ticket numbers.
The tickets will be held in a secure location. The numbers for each group will be posted on a webpage with a unique URL. A Sample Is Here at . That URL will be provided to each participant in the form of a receipt at time of payment. In addition to the numbers, the first name and first letter of the last name of each participant in that group will be posted.
If the organizer is the holder of private tickets (those not posted on the website) not associated with any group, no group or other individuals are entitled to those winning funds.
There is no guarantee of the number of participants, the number of tickets purchased, or the amount of winnings (if any) for any given game.
Current TFMC Groups are shown below. The Lines / Player demonstrates how many lines in the game will be purchased by the entry fee. For example, if the participation fee is $16, the number of draws is 8 and the Lines / Player is 2, that means the game is $1 per line (MegaMillions). If the Lines / Player is 1, that means the game is $2 per line (Powerball). If the Lines / Player is 2.5 and there is an odd number of players, the organizer will contribute the extra dollar to complete a line.
Any winnings from the numbers posted in association with this group will taken as follows:
Win in excess of $100,000: Immediate Cash Dispersement to each participant after legal councel involvement, with each participant contributing to legal fees.
$500 to $99,999: Organizer will make arrangements for each participant to complete the appropriate tax paperwork.
$1 - $499: Group will vote on rolling over funds to the next drawing with new tickets & numbers or payout to participants. Majority Rules.
|TFMC Group||Payment Deadline||Participation Fee||# of Draws||Game*||Draw Date(s)|
|2017-Q1||5 PM - January 3, 2017||$26||26||MegaMillions||1/3/17 - 3/31/17|
|2017-Q2||5 PM - April 3, 2017||$26||26||MegaMillions||4/4/17 - 6/30/17|
|2017-Q3||5 PM - June 29, 2017||$26||26||MegaMillions||7/4/17 - 9/29/17|
|2017-Q4||5 PM - September 29, 2017||$26||26||MegaMillions||10/3/17 - 12/29/17|
|* MegaMillions Drawings||each Tue & Fri nights|
|* Powerball Drawings||each Wed & Sat nights|
Any team ticket winning $600.01 or more claim at KLC headquarters in Louisville or at the Lexington regional office up to $49,999. There will be an IRS W2G form issued for any prize of $600.01 or more. A separate W2G will be issued for each member of the group. Taxes will be withheld (25% federal and 6% state) for any winnings of $5,000.01 or more. To claim a team's prize of $600.01 or greater, put together a team document (preferably typed) to bring at the time of claiming. This document needs to contain the full name of each team member, along with their completed address and social security number. The share (or amount won) for each team member must be listed. The entire group doesn't need to come in to cash the ticket - the Lottery Captain can handle the responsibility. The Lottery Captain needs to sign the back of the ticket, and they will also fill out the claim form in their name. An IRS form 5754 will also be completed by the captain. Using the information provided on the team document, a separate W2G tax form will be issued for each member of the group. The W2G will include each team member's share amount for tax purposes. Unless you are a jackpot winner, a single check will be issued for the prize amount in the name of the Lottery Captain. It is then the responsibility of the Lottery Captain to distribute the funds. The Lottery Captain will not have tax liability for the full amount, as the share amounts included on the W2G forms will be reported to the IRS. If a team wins a Powerball or Mega Millions jackpot, however, separate checks will be issued for each team member. It takes about two weeks after claiming a jackpot prize before funds can be distributed to everyone in the group.