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E-raffle ticket for shrimp suggestion


Hungle64
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I think would be cool to have a raffle tickets for shrimps once a month. I think it would help Will to offset the cost of running shrimpspot.com and someone lucky to win a higher price shrimp.

 

What would everybody think?

 

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That would be a good idea but how would the person putting up the shrimp benefit? Would be alright donating but I think there would be an abundance of people not willing to donate imo. Might be a good idea if. You could make the cost of the shrimp back!

-Chris

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For example

if Will is selling a shrimp of $50 but if he selling  it thru raffle thing of 100 tickets and cost of ticket is $1.

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Do you know a good way to collect something as small as $1 though?  Paypal fees would kill most of that.

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It's a business so technically no you shouldn't mess with the tax man.

PayPal fees isn't tax, that's how they make their money.

-Chris

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Yeah, but you still don't want to do that- or at least I wouldn't.  I don't want to risk freezing my acct or being shut down.  I've heard horror stories.

 

Granted- I don't pay taxes on what I sell on shrimp stuff because I don't make that much, but I *do* use paypal a lot to receive and buy.

 

Besides, don't they still take out the percentage?  Just out of YOUR acct and not the sellers if you do friend?

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I agree to spending a little more with a peace of mind. Maybe we should have all members vote to see who would like to anticipate ?

 

I am in !

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Hey, I'm in for every month if all I have to do is buy a virtual ticket to win shrimp!

 

Cool idea that the seller gets pd and the rest goes to the site.  I'm HUGE on win-win situations.  And this wins for the seller, raffle buyers and the forum- as the money would be used for maintenance and upgrades!  Heck, we don't even pay for memberships yet!

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So if I understand this correctly people would buy tickets to enter the raffle and the winner would get the shrimp.  The cost of the shrimp are deducted from the proceeds and the rest goes to maintain the website, am I understanding that correctly?  What would happen if the raffle tickets did not cover the cost of the shrimp? 

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As to regards for taxes, Paypal only sends your information to the IRS(Internet Revenue Service) if you qualify by doing the following, receive $20000 AND 200 or more transactions in one year. This applies to any online marketplace such as eBay, Amazon, Paypal. Whatever you can name. IRS will send you a 1099k for the taxes. 

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So if I understand this correctly people would buy tickets to enter the raffle and the winner would get the shrimp.  The cost of the shrimp are deducted from the proceeds and the rest goes to maintain the website, am I understanding that correctly?  What would happen if the raffle tickets did not cover the cost of the shrimp? 

 

That's something to figure out for sure as this may be a possibility.  Perhaps it carries over to the next week lottery if not enough to pay for the shrimp.  (Similar to the real lottery if there is no winner?)  You could even have a count down system that shows X amount of tickets that still need to be sold in order for the shrimp to be drawn this week.

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To help on pay pall fees, you could buy $x worth of credits and each raffle ticket costs 1 credit. That how alot of online app games do it any ways.

Sent from my SM-N900V using Tapatalk

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Maybe you could have everyone send the money to one person through the family and friends way, and that person holds all of the money

until the end, then pays, so then the fee is paid just one time? 

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