Enjoy Freedom? Money?

Get Breaking Fastlane Updates.
  1. the entrepreneurs red pill

    Talk To Other Millionaire Entrepreneurs ... for FREE!

    Some people take advice from millionaires, others take advice from people who want to be millionaires. If you're tired of taking millionaire advice from your broke uncle, your paycheck-to-paycheck friend, or your 30K millionaire co-worker, register today and get the uncensored, and yes, the sometimes uncomfortable truth from real millionaires who live and die in the entrepreneurial trenches.
    register for the fastlane forum

    Start Your Own Personal Revolution: Grab the Book that Started it All!

    Get The Millionaire Fastlane ||| Download 3 FREE Chapters ||| Learn More

Business Idea: Lambo Lottery Giveaway (legal issues?)

Discussion in 'Franchising, Chains, Traditional B&M' started by lkn2bfd, Nov 17, 2007.

  1. lkn2bfd
    Offline

    lkn2bfd 10 kph

    Joined:
    Sep 22, 2007
    Messages:
    60
    Likes Received:
    2
    Speed Points:
    12
    Location:
    Birmingham,Al
    Rep Bank:
    $17
    The only problem is this legal in your area, contest were you are giving things away. I have thought about this to and if so what would you have to do to keep it legal ? I wanted to do this with a lambo sell tickets for 20 bucks who knows would like to hear information on legality's


     
  2. CRBFL
    Offline

    CRBFL 10 kph

    Joined:
    Oct 9, 2007
    Messages:
    137
    Likes Received:
    13
    Speed Points:
    17
    Rep Bank:
    $22
  3. lkn2bfd
    Offline

    lkn2bfd 10 kph

    Joined:
    Sep 22, 2007
    Messages:
    60
    Likes Received:
    2
    Speed Points:
    12
    Location:
    Birmingham,Al
    Rep Bank:
    $17
    LoL, sure crbfl if I give it a try you get the first ticket !!!
     
  4. lkn2bfd
    Offline

    lkn2bfd 10 kph

    Joined:
    Sep 22, 2007
    Messages:
    60
    Likes Received:
    2
    Speed Points:
    12
    Location:
    Birmingham,Al
    Rep Bank:
    $17
  5. CarrieW
    Offline

    CarrieW 150 kph Read The Millionaire Fastlane Speedway Pass

    Joined:
    Nov 12, 2007
    Messages:
    2,341
    Likes Received:
    811
    Speed Points:
    298
    Gender:
    Female
    Location:
    suburbs of savannah in Ga
    Rep Bank:
    $3,371
    Thats how it is in pa also, only people allowed to raffle are non profit's.(we wanted to raffle our first house off)

    everything else has to be a game of skill, or a contest.

    I think it is simular in most if not all states.

    Let us know what you decide to do!
     
  6. kurtyordy
    Offline

    kurtyordy 50 kph

    Joined:
    Aug 28, 2007
    Messages:
    2,376
    Likes Received:
    262
    Speed Points:
    70
    Location:
    PA
    Rep Bank:
    $100
    Here are some thoughts I had awhile ago on a means to circumvent. Make it a notalotto. Make it a social experiment tracked on a website. Tagline- Can 20,000complete strangers pick who to give a lambo to from amongst themselves. This would be a social gifting experiment. Each person gets a 'share' of a lambo, and collectively they must all give their 'shares' to one person. This elliminates the prize tax on the recipient as well I believe.

    You could then set up a social networking site with only these members being able to use, but others able to see. maybe have voting rounds to narrow the pool of recipients. I think this would be fascinating on multiple levels.

    Imagine if MJ suddenly declared that he was going to give a lambo to a member of the forums, but we must all decide who will recieve it. The ensueing posts would be hillarious to watch unfold.

    Keep in mind I have never tested the notalotto theory, but it is the best I can come up with to circumvent the nanny state laws restricting great ideas.
     
  7. kurtyordy
    Offline

    kurtyordy 50 kph

    Joined:
    Aug 28, 2007
    Messages:
    2,376
    Likes Received:
    262
    Speed Points:
    70
    Location:
    PA
    Rep Bank:
    $100
    I read somewhere recently about someone doing this, but not sure what state. They had not been able to sell their house for some time, so they got the charity to agree to buy the house for the amount of a year old appraisal if I remember correctly, then the charity got to keep all proceeds over that amount.

    edit- here is the story, apparently it was in maryland http://www.todaysthv.com/news/news.aspx?storyid=62154
     
  8. Rawr
    Offline

    Rawr 150 kph FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

    Joined:
    Aug 12, 2007
    Messages:
    1,450
    Likes Received:
    817
    Speed Points:
    300
    Location:
    Midwest
    Rep Bank:
    $1,048
    There is a 360 modena sitting in the Mall of America right now - for $20 you can enter to win. It is for some Jewish charity - and from what I saw there are a lot of people wanting to take the chance. Car is from a private seller - over 30k miles if I'm not mistaken.
     
    Jbellefeuille likes this.
  9. Jbellefeuille
    Offline

    Jbellefeuille 10 kph

    Joined:
    Sep 10, 2007
    Messages:
    36
    Likes Received:
    0
    Speed Points:
    12
    Gender:
    Male
    Location:
    Chicago
    Rep Bank:
    - $36
    I know they are doing this with a Ferrari at the Mall of America in Bloomington, MN - they have been raffling tickets for months now. I bet some little old lady going to get a call in 6 months saying that she won the car.
     
  10. Jbellefeuille
    Offline

    Jbellefeuille 10 kph

    Joined:
    Sep 10, 2007
    Messages:
    36
    Likes Received:
    0
    Speed Points:
    12
    Gender:
    Male
    Location:
    Chicago
    Rep Bank:
    - $36
    Too bad I didn't read Rawr's post.... now I feel like a shmuck
     
  11. Jbellefeuille
    Offline

    Jbellefeuille 10 kph

    Joined:
    Sep 10, 2007
    Messages:
    36
    Likes Received:
    0
    Speed Points:
    12
    Gender:
    Male
    Location:
    Chicago
    Rep Bank:
    - $36
    This is how you can do it in the state of MN - I have more documents as I may be organizing a Non-profit texas hold-em tournament if I am unable to raise enough funds for a current Community Project here in Minneapolis.

    For those of your curious as to your states laws just visit your states local Gambling Control Board:

    For example http://www.gcb.state.mn.us/

    :smx9::banana::banana::banana::banana::banana::smx9:
     

Share This Page

Certain Xenforo Add-Ons by Waindigo

Follow Fastlane!

Fastlane Toolbox

Book links provided by Amazon.com affiliate program. Links are not endorsements from MJ DeMarco and/or Viperion Corporation.

Sponsors

Postradamus

advertise at fastlane