Each year my company organizes a company pool around the NCAA tournament. Real money is entered and won. Is this legal?
2007-03-13 06:47:07 · 3 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
GENERALLY, yes.
If all the money goes into the pot and is distributed to the winner(s), it is PROBABLY OK.
If the person running the pool - or anyone else - takes a fee for running it, that's "making book" and a MAJOR legal problem.
I'm an attorney. We have an office pool, which I will probably enter. I do not expect to be arrested!
So have fun! (Check local law, just in case.)
2007-03-13 06:50:11 · answer #1 · answered by American citizen and taxpayer 7 · 0⤊ 1⤋
yeah - basically. The main thing is that the person organizing it or the business itself is not making any money off of it - only the person / people who win.
2007-03-13 13:51:26 · answer #2 · answered by Liberty Belle 5 · 1⤊ 1⤋
In many states, no. This would be unregulated gambling, and is against the law. However, these laws are rarely enforced.
2007-03-13 14:55:30 · answer #3 · answered by Anonymous · 0⤊ 1⤋