Comments on: EphCOI:Finance – Options on Final Four tickets? http://www.ephblog.com/2008/03/05/coifinance-options-on-final-four-tickets/ All Things Eph Fri, 12 Mar 2010 23:42:28 +0000 http://wordpress.org/?v=abc hourly 1 By: frank uible http://www.ephblog.com/2008/03/05/coifinance-options-on-final-four-tickets/#comment-21400 frank uible Thu, 06 Mar 2008 11:05:21 +0000 http://www.ephblog.com/2008/03/05/coifinance-options-on-final-four-tickets/#comment-21400 The 3 elements of an illegal lottery are a) payment of consideration, b) existence of a prize and c) determination by chance. The relevant question in the subject scheme is "does the selection of one's team constiute an exercise of such substantial skill that for the purposes of the law the outcome is taken out of the realm of chance"? Research would probably cast light on the answer to this question, but I ain't going to do it. The 3 elements of an illegal lottery are a) payment of consideration, b) existence of a prize and c) determination by chance. The relevant question in the subject scheme is “does the selection of one’s team constiute an exercise of such substantial skill that for the purposes of the law the outcome is taken out of the realm of chance”? Research would probably cast light on the answer to this question, but I ain’t going to do it.

]]> By: emajor03 http://www.ephblog.com/2008/03/05/coifinance-options-on-final-four-tickets/#comment-21317 emajor03 Thu, 06 Mar 2008 03:30:52 +0000 http://www.ephblog.com/2008/03/05/coifinance-options-on-final-four-tickets/#comment-21317 Hey Frank - that's certainly possible. I haven't done the research, but I will guess it is legal. So even though there is a probability / betting component, I think it is fine because there is a physical deliverable at a predetermined price. The real question is how accurate they'll be in predicting the outcome - there certainly won't be much liquidity. Hey Frank – that’s certainly possible. I haven’t done the research, but I will guess it is legal. So even though there is a probability / betting component, I think it is fine because there is a physical deliverable at a predetermined price.

The real question is how accurate they’ll be in predicting the outcome – there certainly won’t be much liquidity.

]]> By: frank uible http://www.ephblog.com/2008/03/05/coifinance-options-on-final-four-tickets/#comment-21301 frank uible Thu, 06 Mar 2008 01:36:52 +0000 http://www.ephblog.com/2008/03/05/coifinance-options-on-final-four-tickets/#comment-21301 Sounds like an illegal lottery. Sounds like an illegal lottery.

]]>