Article 11. Formation and distribution of the prize fund of the Lottery Law and Lottery Activities

Home / RLA / Article 11. Formation and distribution of the prize fund of the Lottery Law and Lottery Activities

1. The lottery operator is obliged to ensure the formation of a prize fund in the amount of at least fifty percent of the proceeds from sold lottery tickets, electronic lottery tickets of a particular lottery, or at its own expense.

2. The prize fund is formed in accordance with this article and the terms of the lottery.

3. The prize fund of the lottery draw is formed before the start of its drawing.

4. The lottery operator is prohibited from burdening the prize fund with any obligations, except for obligations to lottery participants to pay winnings, as well as to use the funds of the prize fund other than to pay winnings.

5. The prize fund of a draw lottery must be fully drawn within the framework of the draw to which it belongs, with the exception of a draw lottery that uses the principle of accumulative prize pool formation over several draws (super prize).

6. The payment of winnings is carried out in accordance with this Law and the terms of the lottery.

The payout of winnings must begin no later than thirty days after the relevant draw and last for at least six months from the date of publication of the results of this draw (prize pool drawing). After this period, claims for unclaimed winnings are accepted in accordance with the procedure stipulated by the lottery terms.

7. Winnings that are not claimed within the time limit set by the lottery conditions are stored by the lottery operator for three years from the date of publication of the results of the relevant draw (prize pool drawing), after which they are credited to the budget revenue in the form of a non-tax payment.

The Law of the Republic of Kazakhstan dated April 9, 2016 No. 495-V SAM.

President

Republic of Kazakhstan

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases