Want To Buy In?

[Dunbar]

I just want to point out how careful you need to be about something like this. It would easy for there to be ambiguities that could lead to anything from hard feelings up to lawsuits.

For example, what happens if the total money paypal'd to you is greater than the cost of the ticket? Who gets what share then?

What happens if someone WU's you money but you don't pick it up before the bet goes in? Are they still in? What happens if they WU you at 3:15pm?

What happens if you hit a monster payout--how will you handle it tax-wise? Will you send 1099's to your partners next January?

You have to think about as many of these things ahead of time as possible.

--Dunbar

[justindew]

Originally Posted by Dunbar

I just want to point out how careful you need to be about something like this. It would easy for there to be ambiguities that could lead to anything from hard feelings up to lawsuits.

For example, what happens if the total money paypal'd to you is greater than the cost of the ticket? Who gets what share then?

What happens if someone WU's you money but you don't pick it up before the bet goes in? Are they still in? What happens if they WU you at 3:15pm?

What happens if you hit a monster payout--how will you handle it tax-wise? Will you send 1099's to your partners next January?

You have to think about as many of these things ahead of time as possible.

--Dunbar

Good points. I think we can work everything out though. Shouldn't be a problem.

[jman5581]

What happens if someone WU's you money but you don't pick it up before the bet goes in? Are they still in? What happens if they WU you at 3:15pm?

Ahhhhh, the old mailbox rule... acceptance of an offer is made when dispatched