WIN A SPYDER?

[Motza]

Can this be done legally?
Hold a raffle to win a Spyder.
$25 or $50 a ticket gives you the chance to win a Spyder.

:chat:

[bjt]

Raffles are regulated or governed by state gaming commisions, or at least they are in some states. Not sure what all is involved but I'm guessing at least a permit or a license (money in their pocket).

[Roaddog2]

Raffles are regulated or governed by state gaming commisions, or at least they are in some states. Not sure what all is involved but I'm guessing at least a permit or a license (money in their pocket).
:agree:

[Zerocool]

Can this be done legally?
Hold a raffle to win a Spyder.
$25 or $50 a ticket gives you the chance to win a Spyder.

:chat:

Yes, but you need to check with local authorities. If I recall correctly, years ago in CT, I needed to fill in a permit at the police department.

Basically, the number of tickets sold must be in-line with the value of the prize and the odds MUST be published and accurately accounted for. That is, you can't sell 100,000 $50 tickets for a $20K prize.

DISCLAIMER: I am not a lawyer (IANAL), so do your homework ;-)

[Firefly]

Seen it done with cars and houses - just have to get a registration number from your state. I don't believe they can regulate how much you're allowed to make. Had a local guy sell a car a few years ago that way - he made out pretty well.

Someone did a house awhile ago too - but they set it up that if they didn't get a certain amount of money then it just became a 50/50 raffle. I'm sure this varies from state to state. The tickets on the $125,000 house were $100 each - or 5 for $400 and they were only selling like 200 tickets. I bought 5 as the odds were pretty good.

Didn't win - and they didn't sell enough so someone won the 50/50 thing. I think this one was some charity thing though.

Considering I've seen new 2008 Spyders listed for $13,800 from actual dealers on Ebay (Dee's marine in Michigan) - a raffle might not be a bad idea if you think you'll get much more than $10-$12 grand from a used Spyder.

[bone crusher]

Yes, but you need to check with local authorities. If I recall correctly, years ago in CT, I needed to fill in a permit at the police department.

Basically, the number of tickets sold must be in-line with the value of the prize and the odds MUST be published and accurately accounted for. That is, you can't sell 100,000 $50 tickets for a $20K prize.

DISCLAIMER: I am not a lawyer (IANAL), so do your homework ;-)

Not true...if it's a non-for-profit fundraiser and the proceeds go to charity, you have a lot of liberty to do what you want.

The winner also has to pay taxes on the winnings...argh!

[bone crusher]

Can this be done legally?
Hold a raffle to win a Spyder.
$25 or $50 a ticket gives you the chance to win a Spyder.

:chat:

Why do you want to raffle off your spyder? We all thought you liked it...is this part of your commercial?...to track you spyder around the world and back? Ah hah...I knew it!!!!!:D

[Motza]

Why do you want to raffle off your spyder? We all thought you liked it...is this part of your commercial?...to track you spyder around the world and back? Ah hah...I knew it!!!!!:D
Not selling my Spyder...
just thought it would be a good idea for people to raffle off their Spyders.
Has nothing to do with the commercial.