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#1440256 - 09/08/10 06:57 PM Football lottery
ozzie Offline
100 Club
Joined: Jun 2003
Posts: 155
Can someone please tell me what Regulation contains information about not having lotteries in the bank. I have employees who want to offer a lottery type- game of chance football game at work for employees. I just want to be sure this is OK. Thanks.

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Operations Compliance
#1440291 - 09/08/10 07:22 PM Re: Football lottery ozzie
Pup Offline
Power Poster
Joined: Sep 2003
Posts: 5,045
Pedaling along a scenic highwa...
Don't sponsor it. Office pools are not illegal, correct? I ask because I actually don't know for sure....and I may or not participate in them.... whistle

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#1440481 - 09/09/10 12:18 AM Re: Football lottery Pup
rlcarey Online
10K Club
Joined: Jul 2001
Posts: 83,039
Galveston, TX
All unlicensed sports betting is illegal - including office pools.
The opinions expressed here should not be construed to be those of my employer:

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#1440643 - 09/09/10 02:26 PM Re: Football lottery rlcarey
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,486
Bloomington, IN
Can someone please tell me what Regulation contains information about not having lotteries in the bank.

National Bank Act (12 USC 25a) prohibits lottery activities by national banks.

If a state bank check your state laws.

For IN look to IC 4-32-1-2. It says a licensed qualified organization may engage in a raffle. IC-4-32-6-20 defines a qualified organization. Banks do not come within the definition.
The opinions expressed are mine and they are not to be taken as legal advice.

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#1441699 - 09/10/10 09:45 PM Re: Football lottery Dan Persfull
West Coast Comp Offline
Gold Star
West Coast Comp
Joined: Jun 2010
Posts: 350
Lost in the rain.
Office pools are subject to state law. Technically in WA office pools are not legal (but the only penalty might be a letter from the state gaming commision telling you to stop).
Where I go there I am. smile

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#1441704 - 09/10/10 09:53 PM Re: Football lottery West Coast Comp
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Banks (and other businesses) usually look the other way for small departmental pools. I have stopped ones that got totally out of hand size wise with outside parties (family, customers) participating.
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy

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