(230 ILCS 15/1)(from Ch. 85, par. 2301) Sec. 1. Definitions.) For the purposes of this Act the terms defined
in this Section have the meanings given them. "Net Proceeds" means the gross receipts from the conduct of raffles, less
reasonable sums expended for prizes, local license fees and other reasonable
operating expenses incurred as a result of operating a raffle. "Raffle" means a form of lottery, as defined in Section 28-2(b) of the
Criminal Code of 2012, conducted by an organization licensed under this Act, 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.