Gambling Advice Business Legality

Summary

Offering gambling advice for a fee involves legal considerations in Wisconsin. Ensure compliance with state gambling laws, which regulate betting activities. Licensing may be required if the advice is financial in nature. Additionally, review consumer protection laws to ensure your refund policy is compliant. Consider consulting a local attorney to navigate these legal requirements effectively.

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I have a business idea and am wondering how/if it would be legal. Many sportsbooks such as draftkings have new user bonuses where you bet $* to get $* in bonus bets. Would it be legal for me to charge someone $* for advice after telling them how to make an account and advising how to bet. If they do not profit at least $* then I would refund them the advise fee.
Hey ****! Your business idea involves elements of gambling and financial advice, so there are a few legal considerations you should be aware of:
- Ensure compliance with Wisconsin gambling laws, which regulate betting and gaming activities.
- Consider licensing requirements for providing financial advice.
- Review consumer protection laws regarding refund policies.
Have you thought about the potential need for a license or any other legal requirements related to gambling or financial advice?
No
Hey ****! Here are a few things you might want to consider as you explore your business idea:
- Gambling Laws: Wisconsin has specific regulations around gambling, so it's essential to check if your service aligns with these laws.
- Licensing for Advice: Depending on the nature of your advice, you might need a license, especially if it borders on financial advice.
- Consumer Protection: Make sure your refund policy complies with consumer protection laws.
Do you want to explore getting a license or learn more about these legal requirements?