For the purpose of this chapter the following definitions shall apply unless the context clearly indicates or requires a different meaning.
NET PROCEEDS. The gross receipts from the conduct of raffles, less reasonable sums expended for prizes, village license fees, and other reasonable operating expenses incurred as a result of operating a raffle.
RAFFLE. A form of lottery, as defined in the Criminal Code, ILCS Ch. 720, Act 5 § 28-2(b) conducted by an organization licensed under this chapter in which:
(1) The player pays or agrees to pay something of value for a chance, represented and differentiated by a number or by a combination of numbers or by some other medium, one or more of which chances is to be designated the winning chance.
(2) The winning chance is to be determined through a drawing or by some other method based on an element of chance by an act or set of acts on the part of persons conducting or connected with the lottery, except that the winning chance shall not be determined by the outcome of a publicly exhibited sporting contest.
('79 Code, § 1408(1)) (Ord. 1981-O-1, passed 1-6-81)