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Is This Legal?

Discussion in 'BlackHat Lounge' started by nam6641, Jun 16, 2009.

  1. nam6641

    nam6641 Supreme Member

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    http://floridaluxuryauctions.com/

    Basically, the people can't pay their mortgage so they are going to raffle off their house. The thing is, they bought it for $2.35 million, but they want to sell 300,000 tickets at $10 each = $3 Million in raffle proceeds.

    Is this legal? Could I buy a $20k Mustang and sell $30k worth of tickets and pocket $10k just like that?
     
  2. Hyperion

    Hyperion Regular Member

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    Well chances are you wont sell all of your tickets and you probable also have to pay commission so I don't know how lucrative it will be in the end.
     
  3. nam6641

    nam6641 Supreme Member

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    Pay commission to who?

    I think selling 3,000 tickets at $10/pop to win a new mustang would not be very hard with the internet.
     
  4. kleg

    kleg Registered Member

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    5. The drawing will benefit the Mission of St.Francis
    There's your loophole. I believe only non-profit organizations are allowed to have raffles.