Prizes

News & Analysis as of

Sweepstakes Attorneys: Protecting Your Promotions

Promotions Law and Sweepstakes Attorneys - Conducting a sweepstakes, contest or other form of promotion can be a highly effective way of increasing your customer base, or creating stronger brand loyalty among existing...more

SEC Fines Fantasy Stock Market App Developer

The Securities Exchange Commission (“SEC”) recently fined New York-based Forcerank LLC (“Forcerank”) $50,000 in connection with charges that Forcerank’s fantasy stock market mobile app illegally offers complex derivative...more

United States Olympians Score a Win against the 'Victory Tax'

On October 7, 2016, President Obama signed into law the United States Appreciation for Olympians and Paralympians Act (the “Act”), H.R. 5946. The Act amends Internal Revenue Code § 74, which governs the taxation of prizes and...more

FTC Sues Terry Somenzi Over Fake Prize Schemes

Last week, the FTC filed a lawsuit against Terry Somenzi and International Advisory Services, Inc., among other defendants, for an allegedly fake prize scheme in federal court. According to the FTC’s complaint, the defendants...more

A Sweepstakes Lawyer Can Help Keep Promotion Sponsors out of Hot Water

Last Thursday, the Federal Trade Commission (the “FTC” or “Commission”) sued several individuals and businesses in a Los Angeles federal court for engaging in allegedly deceptive sweepstakes sponsorship and marketing...more

Social Media Competitions in the UK: Play Fair

With 1.65 billion users on Facebook, 332 million users on Twitter and 400 million on Instagram, it is unsurprising that many companies are seeking to increase brand awareness and customer engagement by running competitions...more

Tax Brackets: Revisiting the Tax on Gambling Winnings just in Time for the NCAA Tourney

March Madness is upon us and, at least until Thursday, all brackets have yet to be busted. When completing your bracket for your office pool or a pick ‘em group with friends, keep in mind the tax consequences if you hope to...more

Is it a game of chance or a game of skill?

As most of the readers of this blog already know, a sweepstakes or contest that contains a prize, consideration, and chance may be found to be an illegal form of gambling in most states. For that reason, it is important to...more

UK: Tweaks to Rules on Sales Promotions and Competitions

The UK’s Committee of Advertising Practice (“CAP”) has introduced changes to the provisions of its advertising code which deal with the running of sales promotions, including prize promotions. The full regulatory statement...more

FTC obtains $9.5 million judgment against fraudulent sweepstakes operators

On February 11, 2015 the Federal Trade Commission announced that it had accepted a $9.5 million settlement in a case brought against a sweepstakes operator for violating a previous FTC order. The settlement also permanently...more

Running a Sweepstakes or Contest on Social Media?

If entry for the chance to win a prize requires participants to post content featuring your company’s products or services, the participants should be instructed to disclose that their posts are pursuant to a contest. ...more

FTC Says That Sponsors of Pinterest Contests Should Require Users to Post Pins with Hashtags Warning When Pins are Posted for a...

In a March 20, 2014 closing letter sent to fashion company Cole Haan, the FTC warned that use of the hashtag #WanderingSole in conjunction with a recent Pinterest contest did not adequately communicate the “material...more

Prize Promotions Across the World (Global)

Prize promotions are an effective and increasingly popular marketing tool used globally for attracting customers. The internet and various social media platforms make this an attractive, cost efficient means of reaching a...more

Tax Law Blog: Taxing Olympic Winnings

You may or may not have known that Olympic medalists receive a cash prize for winning a medal (in addition to the physical medal, the notoriety, and the likelihood of endorsements). U.S. medalists receive $25,000 cash for a...more

The Tax Court Of Canada And The World Of Opera

Moliere once said, “Of all the noises known to man, opera is the most expensive.” In Knapik-Sztramko v. The Queen (2013-799(IT)I, October 17, 2013), the Tax Court of Canada managed to reduce some of that cost, at least...more

Advertising Law - Apr 25, 2013

- Marc Roth Invited to Present on Privacy Issues in Marketing at NYC Bar CLE Program: On May 3, 2013, the New York City Bar Center for CLE and the Brand Activation Association (formerly the Promotion Marketing...more

Three Point Shot - March 2013

In this Issue: - Reversal of Fishy Court Opinion Gives Boat Crew Another Chance to Reel in a Million-Dollar Prize - Don’t Eat the Yellow Snow - Grades for Football Prospects Copyrightable, But Sports Writer Not...more

Contest insurance, part two: Protecting your payout

Part 1 of this series discussed how important it is to have contest insurance if the promotion has an expensive prize. It also warned that there are scammers who will sell you insurance but refuse to pay if someone wins the...more

Contest insurance, part one: Get it or regret it

Recently I have helped several clients with contests that seemingly required entrants to do the impossible to win a prize. One promotion required contestants to guess a six-digit code that would open a safe. Another involved...more

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