(a) A qualifying organization is authorized to conduct a raffle under this chapter.
(b) A raffle conducted by a qualifying organization under this chapter:(1) May be conducted on:(A) A digital or electronic device;(B) An online platform, website, or software application; or(C) Any premises owned, leased, or otherwise utilized by a qualifying organization; and(2) Shall be:(A) Based on an official game or sporting event between a qualifying organization's collegiate athletic team and an opposing institution of higher education's collegiate athletic team; and(B) Limited to one (1) raffle per official game or sporting event.
(1) May be conducted on:(A) A digital or electronic device;(B) An online platform, website, or software application; or(C) Any premises owned, leased, or otherwise utilized by a qualifying organization; and
(A) A digital or electronic device;
(B) An online platform, website, or software application; or
(C) Any premises owned, leased, or otherwise utilized by a qualifying organization; and
(2) Shall be:(A) Based on an official game or sporting event between a qualifying organization's collegiate athletic team and an opposing institution of higher education's collegiate athletic team; and(B) Limited to one (1) raffle per official game or sporting event.
(A) Based on an official game or sporting event between a qualifying organization's collegiate athletic team and an opposing institution of higher education's collegiate athletic team; and
(B) Limited to one (1) raffle per official game or sporting event.
(c) A qualifying organization conducting a raffle under this chapter:(1) May determine what method of payment the qualifying organization will accept in exchange for a raffle ticket;(2) Shall designate the prize amount or division of receipts of a raffle; and(3) Shall publicly announce the prize amount or division of receipts of a raffle prior to the sale of the raffle ticket.
(1) May determine what method of payment the qualifying organization will accept in exchange for a raffle ticket;
(2) Shall designate the prize amount or division of receipts of a raffle; and
(3) Shall publicly announce the prize amount or division of receipts of a raffle prior to the sale of the raffle ticket.
(d) A qualifying organization may utilize receipts from the raffle for the following purposes:(1) Payment of prizes designated for the raffle;(2) Payment of administrative costs, fees, or expenses to operate, conduct, advertise, and promote the raffle under this section;(3) Purchase of software, technology, supplies, or equipment to operate, conduct, advertise, and promote the raffle under this section;(4) Provision of scholarships, financial aid, stipends, or other compensation to a student-athlete attending the institution of higher education;(5) Compensation of a student-athlete for the commercial use of his or her publicity rights in accordance with the Arkansas Student-Athlete Publicity Rights Act, § 4-75-1301 et seq.;(6) General support of the institution of higher education's athletics teams or programs; and(7) Purchase, maintenance, repair, debt service, or construction of the institution of higher education's collegiate athletic property, facilities, or equipment.
(1) Payment of prizes designated for the raffle;
(2) Payment of administrative costs, fees, or expenses to operate, conduct, advertise, and promote the raffle under this section;
(3) Purchase of software, technology, supplies, or equipment to operate, conduct, advertise, and promote the raffle under this section;
(4) Provision of scholarships, financial aid, stipends, or other compensation to a student-athlete attending the institution of higher education;
(5) Compensation of a student-athlete for the commercial use of his or her publicity rights in accordance with the Arkansas Student-Athlete Publicity Rights Act, § 4-75-1301 et seq.;
(6) General support of the institution of higher education's athletics teams or programs; and
(7) Purchase, maintenance, repair, debt service, or construction of the institution of higher education's collegiate athletic property, facilities, or equipment.
(e) If a qualifying organization elects to allow credit cards as a method of payment under subsection (c) of this section, there shall be a cap of two hundred fifty dollars ($250) per transaction.