Anyone here have knowledge about offering tournaments with prize money?

by zikamime_lukujitaku. Posted on Sep 14, 2020    1    3


I started a video production business that specializes in live video. I want to be able to live broadcast sport competitions, but also realized that some of them I may have to actually be the organizer for.

My biggest example is that I would love to host a dunk contest down the road, and be able to offer prize money and whatnot.

My research tells me that I may need to license a “Competition business” or the such, just curious as to if people on this sub have experience with it, and if they know of any good resources for me to read through to understand the fundamentals of hosting athletic based tournaments/competition


Comments

kfbrewer 1

As someone who has a business that host gaming tournaments daily (or did pre-Covid) this gets brought up all the time in our industry.

The answer is always, ask YOUR lawyer.

CCC_PLLC 1

I’m an attorney who specializes in this. My clients offer prize pools for esports competitions and it is a very tricky legal landscape.

The best place to start is to look up the state laws for competitions with cash prizes where you want to host the competition. Pay specific attention if they have a law regarding “games of skill” or skills based competitions, or athletic based competitions. Chances are they do and it’s ok, but you have to check.

If you’d like to set up a time to chat with me directly to discuss professional advice on the subject, feel free to message me.

Zazenp 2

You’re entering a legal and liability quagmire. I would not proceed without a local attorney familiar with the laws surrounding that sort of thing.