Azerbaijan Adopts New Rules on Lotteries

The State Securities Committee (SSC) adopted at the beginning of May "rules of the organization and conduct of lotteries." The new rules are also aimed at regulating the disclosure of information and the provision of the SSC organized lotteries (with the exception of stimulating lotteries) reports. The only organizer of the lottery draws in Azerbaijan since 2001 is the state of "Azerlotereya".

According to the rules, the organizer of lotteries must approve its conditions (period, place wins, the minimum prize fund ratio to the total amount of tickets sold, the sample ticket, payment terms of wins, etc.).

In terms of target lotteries should also be given information about the funded project. Terms of lotteries shall be made public in the media.

In addition to paper forms, lottery tickets can be implemented in an electronic manner, in conformity with the law of e-commerce. In this case, the organizer provides direct access to the SSC to ensure control of the electronic system. After the party will choose the e-lottery or make your ticket, the system prompts them to confirm. The ticket is sold after the response to the request.

Winning Lottery Fund formed an hour before the draw. The size of the winning fund may not be less than 50% and above 80% of the value of tickets sold. These frames are defined for the released amount of instant lotteries.

Lottery shall be registered in the SSC for at least 20 working days prior to the event. Draw Commission formed the organizer of not less than 5 people, including at least one representative of the media or public organization.

Winning tickets shall be made public in the media for not later than 5 working days. Admission of replicable winning lottery begins no later than 7 working days after the drawing is completed and not earlier than 90 working days.

Unsold tickets are destroyed by burning them. - 08D -