Earlier this year, Coinbase ran a Bitcoin sweepstakes promotion offering the chance to win one of six prizes, with the top two prizes amounting to the equivalent of $1,000 USD in Bitcoin (along with merchandise and event tickets). Note that our office has not reviewed the Official Rules for Coinbase’s Bitcoin sweepstakes and, as such, […]
Is a Bitcoin Sweepstakes Promotion Legal? Read More »
Unique and highly coveted prizes provide an effective means for brands to drive consumer engagement with sweepstakes and promotional contests. Because prizes serve as the lure to entice consumers, sweepstakes operators have an incentive to offer prizes of significant value. However, business should remain mindful that certain state law requirements may be triggered where prize
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Conducting a sweepstakes promotion through a social media venue provides businesses with a potent marketing combination: Sweepstakes sponsors can increase engagement with their social media accounts, while increasing brand awareness through the allure of prizes. However, there are numerous regulatory considerations and social media network rules that apply to each aspect of this marketing approach,
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By awarding prizes in connection with a sweepstakes promotion, a business can generate valuable publicity and goodwill. This is especially true when the sweepstakes sponsor is able to publish the name and/or likeness of the winner. Putting a name and face to the winning entrant is an effective means of connecting with the public and
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The allure of prizes offered in a sweepstakes promotion can be an effective means of attracting consumers to a brand and/or its specific products/services. This is especially true when the prize in question involves tickets/admission to a highly sought-after live event. Before proceeding with such a promotion, however, businesses must address certain specific considerations relevant
Live Event Sweepstakes Considerations Read More »
On April 11, 2024, New York Senator Joe Addabbo introduced a bill proposing major changes to New York’s fantasy sports law. S9044 seeks to alter the landscape of fantasy sports contests in New York in several ways. As our readers are aware, last October, the New York State Gaming Commission (the “Commission”) adopted New York
New York Senator Introduces Novel Fantasy Sports Law Amendments Read More »
Sweepstakes promotions can be valuable tools for businesses seeking to attract new customers. Unlike static ads, newsletter sign-ups and other basic website registration forms, sweepstakes incentivize consumers to provide their information to businesses by offering entrants the chance to win prizes. As noted, sweepstakes can be a viable means for building a customer database. However,
Why You Need A Privacy Policy for Your Sweepstakes Promotion Read More »
Earlier this week, Stryve Foods, Inc. (“Stryve”) announced the launch of its Bitcoin sweepstakes – allegedly the first of its kind by a meat snack purveyor. Participants will be given the chance to win one of five prizes, each equal to $1,000 USD in Bitcoin. Note that our office has not reviewed the Official Rules
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