Raffle off an Apartment!!

pagekarl · 30-07-2008 10:07pm #1

Hi im doin some research at the minute in relation to raffling off my apartment and am wondering how much interest there would be in buying a ticket -

The Raffle - The raffle will consist of tickets being sold on EBAY where a buyer purchases a ticket number betweeen 1 and "the final number of tickets to be sold, lets say 50,000 for arguments sake". Each ticket will be €5-10 each. The raffle itself will have legal documents drawn up by my own solicitor and all terms and conditions will be attached to the ebay purchase. The raffle will be held by a official adjudicator on line and a date will be attached to ebay for the raffle to take place so people can log on and watch the winning ticket being pulled.

The rules - It is my intention that a min number of tickets will need to be sold for the raffle to go ahead (again this will be mentioned on ebay). I these tickets are not sold then all moneys will be refunded via paypal.

Profit - It is not my intention to make profits on this raffle however advertising, tax, gaming licence costs etc will need to be covered within the number of tickets sold. The number of tickets been sold will be decided on ebay agreement therefore the buyer knows their odds will not vary i.e odds of 1 in 50k and not 1 in infinity.

Reason - :mad:Recession:mad: and dont want to sell apartment at a loss which in the current market is more than likely:mad:.

The Prize - The :Dwinner:D will be pulled out on the date mentioned on the ebay purchase. That person will then be handed over the deeds to a 1bedroom luxury apartment in a highly sought after location in dublin. That person will be mortgage free. That person will have spent no more than the charge of purchasing the ebay ticket.

Sound like somenthing you would be interested in?

The more positive responses I get the more chance this raffle has of taking place.

Cheers

:eek:

beertons · 30-07-2008 10:09pm

What's the apt like? Where is it?

pagekarl · 30-07-2008 10:20pm

"1bedroom luxury apartment in a highly sought after location in dublin"

Heisenberg. · 30-07-2008 10:21pm

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jetski · 30-07-2008 10:24pm

Id buy a ticket or ten

Kavinsky · 30-07-2008 10:28pm

I might buy a ticket if I knew the value of the apartment. Also you would need to generate a serious amount of publicity to offset the cost of raffle tickets with the apartment.

Trump · 30-07-2008 10:29pm

Reason -

Recession

and dont want to sell apartment at a loss which in the current market is more than likely

.

Based on the reason you have provided above for considering such a competition.

Quite simple really: Wait until the recession is over and market recovers then sell your apartment.

harlem · 30-07-2008 10:30pm

I think its a gr8 idea, a couple in the UK are doing the same with their house <http://www.winadevonpropertywithfishing.co.uk/index.php>, I've bought my ticket already

imagine for the sake of a £25 entry being able to win a £1million property? I think its a genius marketing idea.

pagekarl · 30-07-2008 10:36pm

Kavinsky - I woul only need to sell between 50k-100k of tickets depending on cost of tickets and cost of excercise.
And I dont wanna wait till after recession before selling as I want a house -legitimate reason.

Kavinsky wrote: »

I might buy a ticket if I knew the value of the apartment. Also you would need to generate a serious amount of publicity to offset the cost of raffle tickets with the apartment.

wheelscarlow · 30-07-2008 11:24pm

I would be interested at that price in 1 or 10:D:D

Epic Tissue · 30-07-2008 11:37pm

I'd buy a few tickets

Senna · 30-07-2008 11:38pm

Sorry mate it wont work (be allowed), i've heard for people doing this before, a fella tried to raffle off his house, it was in the papers but it was completely illegal and he was fined and had to pay everyone back. Raffles are allow and are authorized by the garda sup'er on a case by case basis, he'll never allow this, if it was for GAA, society or charity, thats a different story.

Have you read this http://www.irishstatutebook.ie/1956/en/act/pub/0002/index.html, A raffle comes under the GAMING AND LOTTERIES ACT, 1956.

Secondly, ebay do not allow raffles, unless for charity.

Darragh29 · 31-07-2008 2:14am

pagekarl wrote: »

"1bedroom luxury apartment in a highly sought after location in dublin"

Hmmm, what's the problem with just saying where the property is located??? Maybe you haven't noticed yet, but nowhere in Dublin is "highly sought after" at the moment, hence why property valuations are down approximately 10%-15% across the board. If it was "highly sought after", in all reality would you be on here trying to offload it in this manner??? :rolleyes::rolleyes::rolleyes:

Patrickof · 31-07-2008 9:51am

I'm afraid that Senna is quite correct. You're not the first to think of it and it is, unfortunately, illegal.

travellerI · 31-07-2008 10:01am

Regardless of the legaility or otherwise of this idea, isn't it a scary prospect that properties which you may have had to queue up overnight to purchase in late 2005 early 2006 are now being raffled on E-Bay.

punchestown · 31-07-2008 10:24am

Senna wrote: »

Sorry mate it wont work (be allowed), i've heard for people doing this before, a fella tried to raffle off his house, it was in the papers but it was completely illegal and he was fined and had to pay everyone back. Raffles are allow and are authorized by the garda sup'er on a case by case basis, he'll never allow this, if it was for GAA, society or charity, thats a different story.

Have you read this http://www.irishstatutebook.ie/1956/en/act/pub/0002/index.html, A raffle comes under the GAMING AND LOTTERIES ACT, 1956.

Secondly, ebay do not allow raffles, unless for charity.

Barney Curley
1984
Middleton House
Private Limited Subscribers Draw 9,000 tickets @ £200 Irish punts each
Originally found guilty of running an illegal lottery
Sentenced squashed on appeal by way of defendant paying charitable donation.

ShooterSF · 31-07-2008 11:00am

Has that law seriously not been updated since (goes on about sixpence and ten pence etc.) bit antiquated.
What about all those pub raffles and school raffles? How do they get their licenses for them?

Darragh29 · 31-07-2008 11:12am

ShooterSF wrote: »

Has that law seriously not been updated since (goes on about sixpence and ten pence etc.) bit antiquated.
What about all those pub raffles and school raffles? How do they get their licenses for them?

Whatever about the legality of the what the poster is trying to do, the idea in itself is completely wooden headed. Sounds like a complete chancer, if a property is located in a "highly sought after" area, what the hell is he doing on here researching a raffle to get rid of it!?!?!

Heisenberg. · 31-07-2008 11:34am

This post has been deleted.

PopeBuckfastXVI · 31-07-2008 11:52am

pagekarl wrote: »

Profit - It is not my intention to make profits on this raffle however advertising, tax, gaming licence costs etc will need to be covered within the number of tickets sold. The number of tickets been sold will be decided on ebay agreement therefore the buyer knows their odds will not vary i.e odds of 1 in 50k and not 1 in infinity.

Actually it is your intention to make profit... it's your intention to take in more money than the open market value of the item being raffled, anything over and above the open market value is profit to you.

Given this I don't know why you wouldn't go all out and try to make even more than that, nothing wrong with making profit.

As other said though, it's not legal... if it was you might get away with it being the first, but there's a very limited amount of times this can be done. Once, maybe twice.

I wouldn't bother with it personally though... the odd's are crap and the payoff isn't all that great.

Best of luck with your sale through conventional means though, you might just have to take a hit... investments may fall as well as rise, past performance is not an indicator of future performance etc. etc.

jackal · 31-07-2008 12:52pm

Trump wrote: »

Reason - Recession and dont want to sell apartment at a loss which in the current market is more than likely.

Based on the reason you have provided above for considering such a competition.

Quite simple really: Wait until the recession is over and market recovers then sell your apartment.

Quality suggestion there trump. :pac: Unless there is another property bubble right after this one finishes popping, then you are highly unlikely to see the "market recover" to anything close to prices in 2006. Property will of course recover, but by the time we see a 1 bed apartment for 450k again, the average wage might be 100k. Good luck sitting it out.

punchestown · 31-07-2008 1:01pm

ShooterSF wrote: »

Has that law seriously not been updated since (goes on about sixpence and ten pence etc.) bit antiquated.
What about all those pub raffles and school raffles? How do they get their licenses for them?

Usually Chief Superintendant in District will give authorisation for such but purely where there is a charital benefactor not a private individual chancing his arm.

ShooterSF · 31-07-2008 1:02pm

I was thinking about this as I've seen plenty of things raffled off even on those tv shows where you text in to enter. Unfortunately for my noggin I won't be able to forget about it till I test all avenues

Ok I remember before people being asked why they ask the stupid questions like who makes the playstation, apple sony or nintendo, when it's already mentioned in the raffle (to win a sony playstation simply answer the question below...) and they said it had to do with the legalities of holding the draw.

The following is theory based on the above.. so maybe if there's a question it's now considered a competition with a prize rather than a raffle and falls under new laws. Theres definitely precedence for having such "raffles". I can't see the difference between raffling a playstation vs a house under the lotteries act as the only difference is value and from what I can see the lotteries act only differenciates (sp?) on prizes greater than £50 (it was 1956) and both would be, so legally should be considered under the same rules...

Any ideas?

ShooterSF · 31-07-2008 1:04pm

punchestown wrote: »

Usually Chief Superintendant in District will give authorisation for such but purely where there is a charital benefactor not a private individual chancing his arm.

Most pubs I know pocket the taking for draws (well anyone's I've worked in) .... eh though if that was done illegally the above was a hypothetical comment ....

dushflan · 31-07-2008 2:34pm

I think its a gr8 idea, a couple in the UK are doing the same with their house <http://www.winadevonpropertywithfishing.co.uk/index.php>, I've bought my ticket already imagine for the sake of a £25 entry being able to win a £1million property? I think its a genius marketing idea.

Can you tell me what the answer to the question is for this raffle?? I wonder how they can get away with it when its illegal here in Ireland??

ShooterSF · 31-07-2008 2:41pm

Noticed they have a question on their's too...hmmm me thinks this is where the loop hole is my friend...

dushflan · 31-07-2008 2:54pm

You don't know the answer do you??

Q. What is the cost of an adult full season coarse fishing licence for 2008/2009?

ShooterSF · 31-07-2008 3:09pm

dushflan wrote: »

You don't know the answer do you??

Q. What is the cost of an adult full season coarse fishing licence for 2008/2009?

Google is your friend. (Hint: it's same price as a ticket for the draw)

dushflan · 31-07-2008 3:31pm

Thanks very much

pagekarl · 01-08-2008 8:44am

Me thinks there is a loophole alright! Rephrase the first from "Raffle" to "Competition"....

Il investigate and post later

dushflan · 01-08-2008 9:48am

I e-mailed that crowd to see why it wasn't illegal there and they said the following:

"Thank you for your interest in our competiition.
A raffle for a prize this size would be illegal in this country too, that is
why it is a skill based competition. The question we have asked is such
that not everyone would know the answer, that indicates a level of skill
required."

Raffle off an Apartment!!

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