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PostPosted: Thu Aug 25, 2016 9:34 am 
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Joined: Thu Aug 25, 2016 9:16 am
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Hi everyone. My name is Theodor as you can guess by username :wink:
It's nice being part of a community based around businesses since I find it pretty hard to find decent and clear suggestions/answers on many topics around business. So. Hi from me.

What I'd like to ask is about online business. I don't own yet a business (probably that's why some questions could look silly to other members around here).

I had on my mind an idea/project that I would like to make it into an online business.

It is some kind of "scavenger hunt" but with images. I intend to make a website hosting online photo contests. The members will pay an entrance fee for the contests and money accumulated by the participants will be given to the winner of each contest. That is pretty much the very basic idea in a nutshell.

Now my question is: When participants take place in a scavenger hunt/contest and pay the "Buy in" must I have some kind of Receipt/Invoice for them to give them? How exactly is this working? I don't think any kind of sites like sports betting sites or casino sites or even any site upgrading from basic (free)to some premium (not free) membership option give any kind of receipt to the user. So how am I going to move with this part? I don't need any receipt since I should pay tax for the business's profits anyway in the end of the year?

I have other questions too in my mind but this one seemed like one of the imminent and important ones that I wanted some more advanced knowledge/experience to help me out with this. What is your opinion about how should I proceed taking into account the way all the sites I described work?

Thanks for any reply on the post. Have fun everyone and hope the site can help me and I can help others here too. :)


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PostPosted: Thu Aug 25, 2016 9:48 am 
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Joined: Thu Aug 25, 2016 9:16 am
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PS: Forgot to mention. Don't know if it is important for the question but at this period I reside in Norway.


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PostPosted: Thu Aug 25, 2016 3:16 pm 
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Joined: Thu Mar 15, 2007 10:29 am
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Location: Melbourne AU
Hi Theo, and welcome to the forums.

Not only must you issue receipts/tickets/records for each entrant, you'll also need to ensure that your lottery (that's what it is, legally) is properly licensed by local authorities. In Norway, that's probably the government's relevant authority and/or possibly the EU.

You'll need to have all the required legal and financial protections in place, including secure server for your site, and appropriate financial oversight.

The following website may be of help: http://www.worldgamblingreview.com/norway-online-gambling.php

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PostPosted: Thu Aug 25, 2016 4:55 pm 
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Joined: Thu Aug 25, 2016 9:16 am
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Hi! Nice to meet you :)

I think there has been a misunderstanding. I am not intending to make a lottery and gambling site as you describe/specify. I just brought such sites as example since they also have members that deposit to them but don't give any invoice/receipt. They just have to pay tax as any business based on their profits.

What I had in mind is based on skill and photography, not gambling or lottery at random. So I think getting license can be /will be fairly easy. What I'm not sure though is the part with any possible receipt that I may have to provide. But I'm not sure if it will work this way as in similar situations in the example sites I provide. Any chance for discussion with you or any more opinions are greatly appreciated.

Thanks :)


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PostPosted: Fri Aug 26, 2016 11:41 am 
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Joined: Thu Mar 15, 2007 10:29 am
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Location: Melbourne AU
Theo,

There's no misunderstanding on my part. If people pay money to be eligible to win prizes, you can bet your life that the government will insist on regulating the process, for two reasons…

1. To keep the process honest and transparent — to protect participants.

2. To pay for the cost of regulating the process.

Whether it involved skill or luck makes little difference. You need to understand these basic realities and be prepared to comply.

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