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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
Pup
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
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rlcarey
Joined: Jul 2001
Posts: 79,959
Galveston, TX
All unlicensed sports betting is illegal - including office pools.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1440643 - 09/09/10 02:26 PM Re: Football lottery rlcarey
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,965
Bloomington, IN
Quote:
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.
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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).
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#1441704 - 09/10/10 09:53 PM Re: Football lottery West Coast Comp
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,285
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.
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Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
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www.kaybeescomplianceinsights.com

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