Can a individual hold a 50/50 raffle for his or her own personal gain?
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Can a individual hold a 50/50 raffle for his or her own personal gain?
Asked on October 8, 2011 under Business Law, North Carolina
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
An individual can hold a 50/50 raffle for his or her personal gain but the raffle would be illegal in every state in this country as a form of illegal gambling and the person holding such a raffle would most likely be subject to criminal charges.
In order to hold a raffle in every state in this country, the entity holding it must be a recognized tax exempt charitable organization under Internal Revenue Service rules and guidelines as an initial requirement. Once there is an established recognized tax exempt charitable organization, state law must be referred to in order to establish whether or not raffles are allowed in that state and at the local level (county and township).
Good question.
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