Setting up a prize money competition

Hi all,
If I wanted to set up a competition on a website whereby everyone who participates pays up 10 euro and there are 100 tickets to be bought, and
there will only be one winner and will receive 500 euro.

Does anyone know what's involved in doing this as it would probably be viewed as gambling. Is it legal? DO you have to register these competitions with some state body?

Thanks,

Kevin

It is gambling and I believe the Betting and Lotteries Act is a relevent pice of legislation, which AFAIK is administered for registration puposes etc. by the Revenue.

BTW, retention of 50% of the stake-money is a better margin than bookies or slot-machines manage.