Portelli, 35, is charged with nine counts of conducting or assisting in the conduct of an unlawful lottery in South Australia, while his business Xclusive Tech Pty Ltd, which trades under the name LMCT+, is charged with 10 counts of the same offence.
He was not required to appear In Adelaide Magistrates Court on Wednesday, where lawyer Ben Lodge entered not guilty pleas on behalf of Portelli and Xclusive Tech.
The charges, instigated by South Australia's Consumer and Business Services, allege Portelli's business did not hold a licence to conduct the lotteries in SA.
View this post on Instagram A post shared by LMCT+ (@lmctplus)
There had not been any negotiations with the prosecution on the charges, Mr Lodge told Magistrate Luke Davis.
"We have had our discussions with our clients … and the matter is contested. We are keen to progress the matter to trial as quickly as we can," he said.
"We ask that these matters be listed for a pre-trial conference and our preference is that be listed today."
Mr Davis adjourned the matters for a pre-trial conference on March 6.
Portelli's company offers members subscriptions to a "rewards club", which includes entries to win cars and properties.
Under SA law, any trade promotion lotteries with prizes exceeding $5000 need a licence to operate and entries must be free of charge.
"The major prize for the lottery was a property situated in Gisborne in the state of Victoria, as seen on the Australian television show The Block, or a cash prize of $3,000,000," court documents state.
Winning the prize "involved an element of chance" but the defendant "did not hold a licence to conduct the lottery in South Australia".
Portelli and his company face a potential maximum penalty of $190,000.
He has said on social media that if he were convicted, he would "round it up to $200,000".
In a social media post in December after the charges were laid, Portelli promoted a membership-based giveaway for South Australians.
"It's okay SA we still love you. Your gambling commissioner won't allow you to win major life changing prizes so I've decided to run exclusive, DAILY $1000 cash giveaways to you guys instead," he wrote.
Melbourne-based Portelli gained fame as "the Lambo Guy" in 2022, after arriving at a house auction for The Block in a yellow Lamborghini.
In last year's series of the reality show, he spent $15.03 million to acquire all five homes on offer.
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