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Termyn8or -> RE: public raffles/lotteries (10/6/2008 9:46:49 AM)
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In the US any proceeds must benefit a recognized charity organisation. Be careful setting it up if you find things the same there, you can't keep any profits beyond what the prize was worth. Even pay taxes on any profits, that would be considered gambling. If gambling is legal in your area there is likely to be a plethora of regulations with which you must comply.
You might be alot better off just putting your items up for sale in the newspaper or some online similar enterprise. I can't see the regulations on such lotteries or raffles being any less stringent in a country where you need a license for a TV set.
I could be wrong, if so, to make a raffle drawing with an open ended date, that is the drawing does not happen until all the tickets are sold, might not be legal and you could lose your arse. If you are stuck with some tickets at the end, and actually win your own flat back for example, there will no doubt be a tax bill coming. The proceeds still need to go to charity. Net loss. As a competent gambler, I say don't bet what you can't afford to lose.
I can only give you those general caveats because laws are similar. However if I were you I would consult an attorney in your area first, or if your company has one on staff who is underworked, have him research the matter. I know a bunch of people who went to jail over something like this, admittedly they are crooks, but the same type of snare that caught them could catch you inadvertently.
Seek legal advice and be very careful should you decide to do this.
T
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