Windknot508

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Posts posted by Windknot508


  1. 3 mins ago, TimS said:

    Because the government doesn't allow illegal gambling? Because the admins are taking a cut from an illegal raffle?

     

    In NJ the fines for holding an illegal raffle are noteworthy:

    "A violation of the bingo and raffles licensing laws or regulations carries a fine of up to $7,500 for a first offense and up to $15,000 for the second and each subsequent offense."  

     

    When these guys making $80 or $100 with their waffles end up facing a stack of $15,000 fines....it's not gonna seem like such a great idea. I'm not even sure what kind of racketeering laws the feds will charge them and the 'admins' with, but I'm betting it will make the $15K each offense fine look like lunch money :read: 

     

    Here's a quick google of the federal requirements, lol:

    "Federally, nonprofit organizations are required to report raffle prizes if the payout is at least 3 times the amount of the wager, and the amount of the prize minus the wager is over $600. The nonprofit must file a Form W-2G with the IRS and give a copy to the prize winner."

     

    So when these guys start getting busted, can you imagine the list of laws the feds are going to throw at them? Everything from racketeering charges, illegal gaming, IRS charges, failure to file specific forms, failure to report income, failure to report income accurately, tax fraud and probably some good stuff about breaking all those laws across state lines. 

    Interesting… this is such a common practice with things like watches, cars, sneakers and anything collectible on all social media platforms, I’ve just never seen it with plugs.