In order to turn on LootShare, a player must enter a Friend Chat in which the owner has enabled Lootshare. Usually, players are promoted into recruits so they are able to use LootShare. To activate LootShare, the player must be in a Friend's 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.
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 potential". When a player receives a high valued drop from a monster, it is very likely their "Lootshare potential" will be depleted. The surrounding players also in the LootShare group gain a fraction of the "Lootshare potential" 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 does not affect drops while LootShare is on. Lootshare points may be accumulated over time, but are automatically reduced by 10% per day. In addition LootShare combines the damage together when in a Friend's chat. Loot given is not based on who did the highest damage.
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, 76, 77, 79, 84, 85, 87, 88, 92, 105, 106, 108, 114, 115, 117, 123, 134, 135, 136, 137, 140, 141.