I need to know, is this allowed?

Discussion in 'Products, Businesses, & Services' started by 72Volt, Apr 14, 2012.

  1. I'm starting a service in the Empire called Premium Bonds.

    Basically, people come to me and buy one or more Premium Bonds. Each bond has a ten-digit number, and if this is drawn at the end of the month, the owner of the bond could win 500, 1000, 2500, 5000 or the grand prize of 10,000r. The more bonds you buy, the higher the chance you have of winning.

    The money is responsibly reinvested in other Empire businesses for security, so the buyers know they'll be getting a prize.

    What I want to know is, is this service allowed? Would admins be okay with me running this
    nick5013 likes this.
  2. So this is just a lottery?
  3. Oh, no, it's based on the premium bond system in the UK.
    The difference is you can take out any money you've paid and matching a few numbers doesn't win you anything.
    nick5013 likes this.
  4. It sounds like a lottery to me, but it isnt completely clear from the brief description you provide.
    As long as your lottery/game fulfills the requirements, rules and guidelines stated here, you will have no trouble from staff. :)
  5. It sounds sort of like Bonus Bonds, a system we have in New Zealand.. but I think it more of a lottery. For Bonus Bonds you can buy so many bonds and there is a monthly draw done. If your number is drawn you win a certain amount (usually 20-40 units/$ transferred into more bonds). The prizes can get very high, but the main difference between a bond and a lottery (at least here) is that you can withdraw your bonds whenever. You don't lose any money, you only gain (if/when one of your bond numbers are drawn). I would call this a lottery unless the player can choose to take back all the money they put into it at any time.
  6. precisely what I'm talking about. excuse my descriptive skills, people.
    nick5013 likes this.
  7. So, if you re-invest the money people use to buy these bonds, what would you do in the unlikely event that everyone happened to want to return their bonds at once? Could you handle that?
  8. Yeah, I'd hate to have to bail you out XD
    nerone94 likes this.
  9. I would hope he would have some of his own money in it to cut down on that risk, and never go below the initial investment from everybody.
  10. And we can hope he's not an avid follower of Bernie Madoff
  11. Well, it will be necessary for me to take one initial low-risk at the start, but from then on, I will just reinvest whatever I make from the first investment and have my wealth grow exponentially, to back up any prizes or refunds anyone may want.
    nick5013 likes this.
  12. Also, I'd just like to reassure anyone buying Premium Bonds from me that I am fully committed to responsible investment of your money when I am put in the position to do so and that I am keeping records of who has premium bonds and the bond numbers :)

    That's my promise, and I'm sticking to it :D
    nick5013 likes this.