Is it legal in USA to organize no-profit tournaments (any sport) among friends, with each player putting some money to play, and 100% of the total pot goes to the winner (and possibly second/third place) as a prize, with no profit for the organizer (unless he/she gets a prize cause of the ranking of course). I live in Florida and I am interested only in beach volleyball (2 versus 2), but I guess other people could be interested so a general answer might be preferred. Specific questions:
- Does the amount of money matter? We would like to put $5-10 each, so really just for fun and to make it a little more competitive
- Does it matter the number of persons involved (my case not more than 10-14 probably)?
- Is there a difference if the tournaments are organized at a public location (e.g. beach), private location (my backyard), or other private/public locations (University campus, the backyard of a bar/restaurant, etc?)
- I am interested in the Florida case, but is it a federal law or each state has their own regulations?