Posted By: LostinRegLand
Sweepstakes vs. Lottery - 11/05/21 08:43 PM
When is it okay to be part of a sweepstakes vs. an absolute no because it becomes a lottery.
I read the FDIC PARTICIPATION BY STATE NONMEMBER INSURED BANKS IN LOTTERIES AND RELATED ACTIVITIES rule. It is when does it turn into consideration for something given thus triggering a lottery?
A local newspaper is sponsoring a nationwide sweepstakes to win rent or mortgage payments for a year. I am generally fairly risk adverse and was surprised to find out management agreed participation in this. Before I go to them I need more information as to whether or not this is allowable, sweepstake vs. Lottery. Prior to them making this decision I had provided them with a summary of the FDIC rule along with a link to the rule if they wanted to read it.
NO PURCHASE NECESSARY TO ENTER OR WIN A PRIZE. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. VOID WHERE PROHIBITED BY LAW.
If you satisfy the eligibility requirements (described below), you may enter the National Sweepstakes by completing the entry form for a Local Sponsor Sweepstakes on a participating Local Sponsor Website (defined below). Following the conclusion of the Sweepstakes Period, Sponsor will select one (1) National Sweepstakes winner through a random drawing from among all eligible entries received. Participation in this National Sweepstakes constitutes entrant’s full and unconditional agreement to and acceptance of these Official Rules and the decisions of Sponsor.
ELIGIBILITY: This National Sweepstakes is open only to individuals who who are legal residents of any one (1) of the (50) United States, the District of Columbia, who are at least eighteen (18) and the age of majority under applicable law in their state, province, territory or jurisdiction of primary residence as of the start of the Sweepstakes Period. Local Promoter, may have different eligibility requirements for Local Promoter Sweepstakes, if any, as set forth on the Local Promoter’s Website.
I read the FDIC PARTICIPATION BY STATE NONMEMBER INSURED BANKS IN LOTTERIES AND RELATED ACTIVITIES rule. It is when does it turn into consideration for something given thus triggering a lottery?
A local newspaper is sponsoring a nationwide sweepstakes to win rent or mortgage payments for a year. I am generally fairly risk adverse and was surprised to find out management agreed participation in this. Before I go to them I need more information as to whether or not this is allowable, sweepstake vs. Lottery. Prior to them making this decision I had provided them with a summary of the FDIC rule along with a link to the rule if they wanted to read it.
NO PURCHASE NECESSARY TO ENTER OR WIN A PRIZE. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. VOID WHERE PROHIBITED BY LAW.
If you satisfy the eligibility requirements (described below), you may enter the National Sweepstakes by completing the entry form for a Local Sponsor Sweepstakes on a participating Local Sponsor Website (defined below). Following the conclusion of the Sweepstakes Period, Sponsor will select one (1) National Sweepstakes winner through a random drawing from among all eligible entries received. Participation in this National Sweepstakes constitutes entrant’s full and unconditional agreement to and acceptance of these Official Rules and the decisions of Sponsor.
ELIGIBILITY: This National Sweepstakes is open only to individuals who who are legal residents of any one (1) of the (50) United States, the District of Columbia, who are at least eighteen (18) and the age of majority under applicable law in their state, province, territory or jurisdiction of primary residence as of the start of the Sweepstakes Period. Local Promoter, may have different eligibility requirements for Local Promoter Sweepstakes, if any, as set forth on the Local Promoter’s Website.
