Lets say I have a PS2 I want to sell. I was thinking of selling 30 raffle tickets for $10 a pop. After 2 weeks, I’ll draw a winner and they get the PS2, I get the profit. How legal is that? What if I advertise in the paper or on the internet? What if I sell 5 Playstations instead of just one with the same rules?
Any lawyers out there know the answer? Does it matter what state I’m in (Missouri)? Is this gambling or just a for-profit raffle?
Thanks!