How is Sweepstakes defined in a legal contract?
- Sweepstakes means any game, contest, or promotion where no payment or consideration is required for a person to participate or become eligible to receive a prize, with the outcome determined by chance. This excludes bingo, pari-mutuel wagering, lotteries conducted by the state lottery commission, and casino gaming. Seen in 16 SEC filings.
- Sweepstakes means any competition, drawing, plan, or other selection process or promotion where anything of value is awarded to participants by chance or random selection. This does not include activity of licensees regulated under certain provisions of law. Seen in 16 SEC filings.
- Sweepstakes means procedure for awarding a prize based on chance. Sweepstakes includes any such procedure in which a person is required to purchase anything, pay anything of value or make a donation as a condition of winning a prize or of receiving or obtaining information about a prize. Seen in 11 SEC filings.
- Sweepstakes means any game, advertising scheme or plan, or other promotion, which, with or without payment of any consideration, a person may enter to win or become eligible to receive any prize, with the outcome determined by pure chance. Seen in 7 SEC filings.
- Sweepstakes means a procedure, activity, or event for the distribution of anything of value by lot, chance, or random selection, where the odds for winning a prize are equal for each entry. Seen in 6 SEC filings.
- Sweepstakes means a contest that awards one or more prizes based on chance or the random selection of entries. Seen in 4 SEC filings.
Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Sweepstakes means a promotion or contest where an individual can win a prize based on chance, without the necessity of payment.
Relevant Contract Types
Relevant Circumstances
- Setting up a promotional campaign
- Organizing a marketing event
- Establishing a contest within an organization
Relevant Sectors
Genie Definition 2
- Sweepstakes means a process where any item of value is distributed by lot or random selection, with equal winning odds for each entry.
Relevant Contract Types
Relevant Circumstances
- Planning a giveaway event
- Organizing a charity or fundraising event
Relevant Sectors
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Sweepstakes means a promotion or contest where an individual can win a prize based on chance, without the necessity of payment.
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