Why not? Shouldn't I enter absolutely every sweepstakes? No, I'll explain.
No matter how good they look, some sweepstakes are not meant for you. The Rules will tell you who is allowed to enter the sweepstakes. If you don't meet the sponsor's criteria, you will not be able to enter. Some of the most common limitations include geography, age, gender, or profession. For example, if a sponsor has limited entrants to Indiana residents who are over 18 and employed as elementary school teachers, your entry will not be be accepted if you fall outside that description.
Pay attention if you are inclined to enter sweepstakes for trips. Many of them provide specific times for you to travel, especially if the sweepstakes is in support of a particular event. If you are not able to travel on the dates shown, you can't reschedule, cash out, or give the prize to someone else. Also, some travel prizes only provide the hotel stay, not the travel expenses. Read the rules carefully before you decide whether or not to enter.
Here's another thing to think about before entering: the ARV. ARV (Approximate Retail Value) is the amount the sponsor says the prize costs. It is also the amount that you will likely need to report at income tax time. Let's say the prize is a $30,000 car and you really want the car. Go for it. The taxes will be much less than the cost of the prize so you'll come out ahead. However, let's say the prize is a $30,000 vacation for you and nine coworkers at the Mexican Riviera for a week. They'll have a great time, but you'll be paying the taxes on the full ,000. Still want the prize?
Yes, there are plenty of great sweepstakes out there, but stop and think before you try to enter all of them.
