What to do if I want to set up a lottery pooling business, wherein I will legally split the fair share on the amount of ticket they from what I win?
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What to do if I want to set up a lottery pooling business, wherein I will legally split the fair share on the amount of ticket they from what I win?
I also understand that I will have to have a signed paper of how I will split the fair share and will take lump sum instead of annually. I will be running this business by myself, and why I think I will be successful at executing this is my organization skills. Will this be legal? It is a form of gambling or an investment? How the business will run is pretty much I get $5, $10 (digits of $5, max $25 for now) from the customer and will buy the same amount of tickets as the money they have given me $1 = 1 ticket.
Asked on August 14, 2013 under Business Law, California
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
What you describe is almost certainly illegal. Taking money from people to place bets for them, including on the lottery, would meet the definition of providing a gambling service and/or place of gambling in every jurisdiction with which I am familiar. However, you may not do this without a license from the state, which is VERY difficult to get. Providing gambling services without authorization or a license is a crime, so you are advised to not do this.
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