What are the laws concerning a for profit organization hosting a Tournament with an entry fee and a $50,000.00 to $100,000.00 pay out to the top 10 winners.
Will this fall under the Penal Code Chapter 47 Sec. 47.01 not included as a bet;
B) an offer of a prize, award, or compensation to the actual contestants in bona fida contast for the determinations of skill, speed, strength, or endurance or to the owners of animals, vehicle, watercraft, or aircraft entered in a contest;
Are there any lic. needed?