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The Federal Reserve Act, the National Bank Act and the Federal Deposit Insurance Act all have provisions prohibiting a covered financial institution from participating in a lottery. Also, there are state laws governing lotteries. In general a lottery is any arrangement whereby three or more persons advance money or credit (generally defined as anything of value) to another in exchange for the possibility that one or more, but not all, of the participants will receive more than the participant advanced to participate and the result is determined by either a random selection, the result of a game, race or contest, or the outcome of various events. 

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