lets just say. a ticket costs 5 $ ..
ill get 5million tickts. so thats 5 * 5million=25mill $
the first winner gets 3millions
second 2 million
third 1 million
two millions fees taxes etc ...
20million $$ straight up to my pocket .. will that be possible ?
is there something im missing?
2007-09-05 16:07:02 · 6 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
how much money do i need to start it anyway ? 100,000 $ ?
2007-09-05 16:08:56 · update #1
wait, is it illegal to start a lottery ? whys that ? i see alot on TV these days
2007-09-05 16:12:27 · update #2
why cant a person do it anyway ? a private one ? i hate goverments
2007-09-05 16:15:44 · update #3
Yes, there is something you are missing. Even if you get a license to do that, how do you know that you will sell 5 million tickets? Why would people buy your tickets rather than a mainstream lottery, or some charity related lottery. To make it attractive you will have to give some really good odds to the players, in other words further increase your risk.
The only "guarantee" here is that you will have to come up with 5 mill to begin with and accept that you will never see these 5mills again because you will have to pay the winners, even if you only sell 3 tickets. Scary stuff,,,,
2007-09-05 16:26:51 · answer #1 · answered by Stamatios D 5 · 0⤊ 0⤋
That is a great idea!! Bet if could be done, the millionaire's would start it. Yes, you are missing something..see below.
You need a business, or a candy store something like that,
then you have to apply to your state for the lottery license.
All approved, they put a lottery machine in your store.
You can sell all the tickets you want, plus scratch offs.
You will get a commission on all the sales you make each month...and if someone wins big.....you get a big cut of that.
Sorry, if I took your good idea away......But if you really want to sell lottery tickets you can do it!!
Good Luck and success.
2007-09-05 16:20:21 · answer #2 · answered by Eve 7 · 0⤊ 0⤋
In order to be rich - you must think rich. A million dollars in the hand of a fool is as good as toilet paper. Start reading books on how to attract wealth such as Think & Grow Rich and The S.O. Getting Rich Book. Watch how you start attracting better opportunities in your life.
2007-09-05 16:12:09 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Lottery= gamble
in theroey it seems like a good idea but short of having it fixed, you might end up losing money. plus you will need a gaming lisence, and have to report every penny you make or you lisence will be revoked. and lisence's cost a butt load.
2007-09-06 02:48:11 · answer #4 · answered by pukeypie89 4 · 0⤊ 0⤋
If you're in the U.S., you might want to start with your state government, and see if they have any rules on gambling and lotteries.
I think you'll find that they do, and they say you can't do it.
2007-09-05 16:13:13 · answer #5 · answered by open4one 7 · 0⤊ 0⤋
Nice idea BUT it is not legal to have a private lottery ..too bad!
2007-09-05 16:12:42 · answer #6 · answered by MeInUSA 5 · 0⤊ 0⤋