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Business Idea: Lambo Lottery Giveaway (legal issues?)

Discussion in 'Business Models, Niches, Industries' started by lkn2bfd, Nov 17, 2007.

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  1. lkn2bfd
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    lkn2bfd New Contributor

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    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
     
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    lkn2bfd New Contributor

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    LoL, sure crbfl if I give it a try you get the first ticket !!!
     
  4. lkn2bfd
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  5. CarrieW
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    CarrieW Silver Contributor Read The Millionaire Fastlane Speedway Pass

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    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
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    kurtyordy Bronze Contributor Speedway Pass

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    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
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    kurtyordy Bronze Contributor Speedway Pass

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    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
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    Rawr Gold Contributor Speedway Pass

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    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.
     
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  9. Jbellefeuille
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    Jbellefeuille PARKED

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    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
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    Jbellefeuille PARKED

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    Too bad I didn't read Rawr's post.... now I feel like a shmuck
     
  11. Jbellefeuille
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    Jbellefeuille PARKED

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    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: