Small cracks form in concrete over time because of erosion or settlement of the pool structure. However, a crack can be symptomatic of a leak in the pool, especially if it grows larger over time. If the underlying reason for the crack is not addressed, the pool will continue to lose water on a regular basis, and the crack will grow even if you plaster it over.
Cracks in concrete can occur because of expansion and contraction of the soil underneath the concrete. Moisture causes soil to expand; when the soil dries, it contracts, causing a crack. Over time, the concrete continues breaking until it is destroyed, which can cause your pool to sink into the ground. Thus, you must stabilize cracks as soon as they appear to correct this problem.
Cracks in concrete around pools are more serious than cracks in concrete elsewhere. Since pools are full of water, if a crack develops on the bottom of the pool, the resulting leak provides more moisture, which thus accelerates the expansion/contraction process, leading to bigger cracks. If cracks get sufficiently large, the pool or the walkway around it can sink into the ground, ruining the pool and possibly causing injuries to people near or in the pool.
Drain the pool immediately if you see cracks in the concrete. After the pool is drained, look for cracks in the bottom of the pool structure. To repair cracks in the bottom of the pool, use a grinder or diamond blade saw to cut the crack out 1/2-inch deep, making it an inch longer on each end. Wipe away dust from the crack and caulk it. Once the caulk dries, patch the crack with a mixture of white Portland cement and white sand and refill the pool.