Lotteries and their licenses. For your information the world is very full of different types of lottery games and licenses you need to be aware of, some of them need license in order to operate and others fortunately don’t.Have a look below are the types of lottery licenses you must know:
Work society lotteries – are the ones for colleagues who work on the same premises and they must be nonprofit and raise money for a charity or good cause.
Private society lotteries – these are the ones that must raise funds to support the work of the society, a charity.
Customer lotteries – must be run by a business on its premises for its customers only, prizes cannot have a value over £50.
Incidental lotteries – are held at events such as fetes and must be for commercial gain, but to raise money for good cause. Tickets must be sold at the event and no more than £100 can be deducted for expenses you will need an operating license from Gambling commission to run these types of lotteries.
Local authority lotteries – these are run by local authority that can use the net lottery profits to assist with their running costs. The maximum prize limit is £200,000 per lottery.
Large society lotteries – must generate a minimum of £25,000 in ticket sales per lottery, or £350, 000 per year. These lotteries should be noncommercial and raise money for culture, sport or charitable causes again, the maximum prize per lottery must not exceed £300,000 although you don’t need an operating license you do have to register with your local authority if you run.