Regulatory Compliance Guide
Understand compliance requirements for DrawBid campaigns and ensure your campaigns meet all applicable rules.
How DrawBid Ensures Compliance
Transparent Operations
All systems designed for transparency and accountability
Audit-Ready Logs
Complete transaction history and draw records for review
Automatic Prize Payouts
Prizes are automatically credited to your wallet after a draw
Compliance Alerts
Notifications on campaign deadlines and important updates
Product Compliance Requirements
Description
DRAWs fall under PNG Gaming Control Board oversight. Organizations need a Class 2 Gaming License + individual permits per campaign. Automatic tax withholding on prizes. Full audit compliance required.
Key Features
- NGCB Class 2 License required
- Individual permit per campaign
- Automatic tax withholding
- Compliance audit-ready logs
- Draw execution safeguards
- Monthly NGCB reporting
Approval Timeline
5-10 days
Risk Level
Low (fully regulated)
Frequently Asked Questions
Are auctions regulated?▼
No. Auctions are standard commercial transactions with no element of chance. They fall under normal business rules. Quick approval, lower compliance burden.
What about fundraisers?▼
Fundraisers have varying requirements depending on the beneficiary type and fund usage. Charity verification may be required. Our team can advise on your specific campaign.
How do prize draws work?▼
Prize draws use cryptographic random selection to ensure every draw is provably fair and transparent. Every draw is logged and verifiable.
What about tax on prize money?▼
Prize winners are responsible for any applicable tax obligations. DrawBid provides winners with statements for their records.
Need More Help?
Our compliance team is here to answer questions about campaign requirements and help your campaigns succeed.
Install DrawBid App
⚡ Works offline · Instant access · Push notifications