OK� Not Everyone Likes FOOLottery!

Our revolutionary lottery creates buzz and draws fire. We knew it would.

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By Franklin Singer (TMF Smoltzy)

At The Motley Fool, we may have done it again, lighting the fuse on another revolution in consumer finance. And this revolution is being televised.

In a taping that will air tomorrow, FOOLottery! Chairman Larry McCloskey spent a half-hour this morning explaining to Fox News host Bill O'Reilly why everyone, their friends, and family should go in for as many tickets as they can afford. The odds are that remarkable.

Again, our decision to launch a worldwide lottery on the Internet is fueled by a desire to:

1. Bust open the state monopoly on lotteries;
2. Offer a 110% payout -- the highest in history;
3. Make our lucky winners rich;
4. Do something cool (our core mission).

Have you played your first FREE ticket yet?

The launch of FOOLottery! is creating buzz across the world, while already drawing ire and criticism from a few predictable places. We're not surprised:

The State Lottery Council (SLC)
Accelerated attempts this morning by the State Lottery Council (SLC) to lobby elected officials, the Justice Department, and the federal courts, seeking an injunction against Internet lotteries have, apparently, failed.

Like other alligator-shoed lobbyists, the State Lottery Council derives the majority of its funding from private corporations -- in this case, those that sell products and services to the nearly 40 states that have been ripping off their citizens (often the poorest and least educated) for the better part of four decades.

The Federal Bureau of Investigation (The FBI)
After being contacted by the Union for State Lottery Workers and Homeroom Educators, the Federal Bureau of Investigation (FBI) visited the headquarters of The Motley Fool just past nine this morning, seeking documents related to the controversial launch of FOOLottery!, claiming it violates U.S. gaming laws.

After a pretty brief meeting, both sides agreed that the service is legitimate because, like other Internet gaming sites, we have domiciled our lottery business on foreign soil. FOOLottery! operates out of the Cayman Islands, Amsterdam, Sydney, St. Thomas Island, and an autobus in Belize. It was a stunning moment when one of our own, Motley Fool Senior Analyst Bill Mann, said calmly to the visiting FBI agents, "I think we can all now agree. There's nothing you can do to stop this."

Play on!

The Usual Senators
Lottery opponents can be found in the halls of Congress, as well -- even though most of their state budgets are funded by it. (By lotteries that pay much less than 110%.)

Idaho state congressman Lin Evans leads The People Against Lottery Spending (PALS), a bipartisan coalition of politicos and glitterati including Ice-T, Gary Nevlin of WCCO Radio Minneapolis, former New York Giants quarterback Phil Simms, and a number of actors from the WB network -- all of whom have publicly derogated lottery players in the past year.

But they and their lawyers were in for a little surprise this morning. As long ago as this February, The Motley Fool had obtained a ruling -- in fact, a court injunction -- forbidding all entities, for-profit or not-for-profit organizations -- like PALS -- from public usage of all language resembling anything like, "The lottery is a tax on stupid people."

The decision, put forth by a Hot Springs, Va., court, ruled that this language is "defamatory" and "creates a psychological barrier to the free flow of commerce." Sorry, Phil Simms.