In order to turn on LootShare, a player must enter a Friends Chat in which the owner has enabled Lootshare. Usually, players are added by the owner so they are able to use LootShare. To activate LootShare, the player must be in a Friends chat, and click on the money bag. You will need to wait 2 minutes before it activates, and once it does, you are allowed to use it.
With the release of the Grouping System, LootShare can simply be enabled for everyone by the group leader, rather than by the players wishing to LootShare. This can save some hassle for new players and players who might not know how to enable LootShare in a Friends Chat.
Regardless of how much damage the player dealt to the monster, if they share LootShare with the group that dealt the most damage and are within 16 squares of the defeated monster, then they are eligible for LootShared items. When a player receives a drop, the value of the item(s) on the Grand Exchange is subtracted from the player's chances of collecting another item, which is called commonly "LootShare points" (lsp). When a player receives a high valued drop from a monster, it is very likely their "LootShare points" will be depleted. The surrounding players also in the LootShare group gain a fraction of the "Lootshare points" based on the number of players in the group. Effectively, the chances of getting a drop increases every time someone else in the group gets a drop.
The ring of wealth and other such luck rings may affect drops while LootShare is on, provided that the tier of the ring applies to the drop table of the monster. However, the affected drop does not necessarily go to the player wearing the ring, it will still be awarded via the LootShare system.
Lootshare points may be accumulated over time, but are automatically reduced by 10% per day.
The worlds available for lootsharing are: 4, 5, 7, 9, 10, 11, 12, 14, 22, 28, 29, 30, 33, 34, 35, 37, 39, 40, 41, 44, 45, 46, 48, 49, 51, 52, 54, 56, 63, 64, 67, 68, 72, 75, 76, 77, 79, 84, 85, 87, 88, 92, 105, 106, 108, 114, 115, 117, 123, 134, 135, 136, 137, 140, 141.
Charms, Ancient effigies, and Defender drops have a value even though they are untradeable. Gold, green, crimson, and blue charms are worth 100 coins each, while abyssal and obsidian charms are worth 1 coin each.