savings promotion raffle
(3) Definitions For purposes of this subsection— (A) Deal in The term “deal in” includes making, taking, buying, selling, redeeming, or collecting. (B) Lottery The term “lottery” includes any arrangement, other than a savings promotion raffle, under which— (i) 3 or more persons (hereafter in this subparagraph referred to as the “participants”) advance money or credit to another in exchange for the possibility or expectation that 1 or more but not all of the participants (hereafter in this paragraph referred to as the “winners”) will receive by reason of those participants’ advances more than the amounts those participants have advanced; and (ii) the identity of the winners is determined by any means which includes— (I) a random selection; (II) a game, race, or contest; or (III) any record or tabulation of the result of 1 or more events in which any participant has no interest except for the bearing that event has on the possibility that the participant may become a winner. (C) Lottery ticket The term “lottery ticket” includes any right, privilege, or possibility (and any ticket, receipt, record, or other evidence of any such right, privilege, or possibility) of becoming a winner in a lottery. (D) Savings promotion raffle The term “savings promotion raffle” means a contest in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or other savings program, where each ticket or entry has an equal chance of being drawn, such contest being subject to regulations that may from time to time be promulgated by the appropriate prudential regulator (as defined in section 5481 of this title ).