jschonhaut
Junior Member
What is the name of your state (only U.S. law)? SC
Hi,
I had an idea a few months ago for a site that would allow for users to post items for not auction, but raffle, in a similar nature to that which eBay uses. The "seller" would post an item for say $1000 and then "bidders" would buy opportunities to win the item for say $1 each. When the item reached $1000 in bids, the raffle would then run, automated, and deliver the winner of the raffle. The "seller" would also be able to set a reserve - the minimum amount at which the raffle could run, so if the total amount of tickets had not gotten to 1000 within - say one month - the raffle could still happen at that reserve. And if the reserve wasn't met either, then all funds were returned... except, of course, the seller's deposit for listing the item (list fees, like eBay fees, would apply)... It can get more complicated than that, I'm sure, but that's the basic premise.
I put this idea out of my head soon after I thought of it because a half hour or so of research told me that this was more or less illegal, and I gave up on it...
Today at work it came up in casual conversation and now my whole office is encouraging me to see about getting this idea off the ground... that "there has to be some way... etc. etc."
So, that's my question...
IS THERE A WAY? AND HOW?
Anything you can offer would be appreciated - even if the answer is... it's not possible, you're wasting your time... just to get them off my back.
Hi,
I had an idea a few months ago for a site that would allow for users to post items for not auction, but raffle, in a similar nature to that which eBay uses. The "seller" would post an item for say $1000 and then "bidders" would buy opportunities to win the item for say $1 each. When the item reached $1000 in bids, the raffle would then run, automated, and deliver the winner of the raffle. The "seller" would also be able to set a reserve - the minimum amount at which the raffle could run, so if the total amount of tickets had not gotten to 1000 within - say one month - the raffle could still happen at that reserve. And if the reserve wasn't met either, then all funds were returned... except, of course, the seller's deposit for listing the item (list fees, like eBay fees, would apply)... It can get more complicated than that, I'm sure, but that's the basic premise.
I put this idea out of my head soon after I thought of it because a half hour or so of research told me that this was more or less illegal, and I gave up on it...
Today at work it came up in casual conversation and now my whole office is encouraging me to see about getting this idea off the ground... that "there has to be some way... etc. etc."
So, that's my question...
IS THERE A WAY? AND HOW?
Anything you can offer would be appreciated - even if the answer is... it's not possible, you're wasting your time... just to get them off my back.
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