Raffles for new houses

Agent Coulson · 31-12-2018 07:19PM

I see a County Boards doing them for the GAA all around the Country.

Another way for the GA to rake it in.

They probably sold the land to the developer to build the houses in the first place as well with the assurances that they get at least one free house out of the development.

yabadabado · 31-12-2018 07:21PM

Roscomm GAA gave 10k to a charity,I presume that was to cover the charity aspect of the raffle.

marketty · 31-12-2018 07:27PM

The last raffle I was at was very interesting because the people who ran the raffle actually won it.
So it's not unusual for that to happen now and again.

Plumbthedepths · 31-12-2018 07:28PM

marketty wrote:

The last raffle I was at was very interesting because the people who ran the raffle actually won it. So it's not unusual for that to happen now and again.

Was it on Craggy Island?

blindside88 · 31-12-2018 07:29PM

Carlow gaa are running one for a house in October 2019. Tickets on sale at €100. From reading the t&c’s the €100 gets you membership of “club Carlow” which is the supporters club and all members are entered into a “free draw” for a house. I assume that’s their work around needing a license for it. Limited to 8000 tickets. I’ll probably buy a ticket for it

KathleenGrant · 31-12-2018 07:30PM

marketty wrote: »

The last raffle I was at was very interesting because the people who ran the raffle actually won it.
So it's not unusual for that to happen now and again.

OOOOOH. Mrs. Doyle wants number 11.

Collie D · 31-12-2018 07:30PM

Agent Coulson wrote: »

I see a County Boards doing them for the GAA all around the Country.

Another way for the GA to rake it in.

They probably sold the land to the developer to build the houses in the first place as well with the assurances that they get at least one free house out of the development.

Nothing wrong with it if they did. I believe the Roscommon GAA house was donated to the County Board so every ticket sold was profit.

The Tetrarch · 31-12-2018 07:32PM

Sorry, Ted. I was holding the ticket upside down.

yabadabado · 31-12-2018 07:51PM

Agent Coulson wrote: »

I see a County Boards doing them for the GAA all around the Country.

Another way for the GA to rake it in.

They probably sold the land to the developer to build the houses in the first place as well with the assurances that they get at least one free house out of the development.

A lot of assumptions there.

In the case of Roscommon they bought the house and they definitely didn't sell the land to the developer.

All money raised will be used for redevelopment of the county ground and a CoE.

mvl · 31-12-2018 08:35PM

iamwhoiam wrote: »

There was a raffle ( lottery ) every year in Berlin for a house . I thought it was a fabulous idea and see nothing at all wrong with it

was it for houses that didn't sell ?
think this guy had a good idea https://www.thisismoney.co.uk/money/mortgageshome/article-5633381/Could-win-home-5-Entrepreneur-sets-Raffle-House-platform.html

iamwhoiam · 31-12-2018 08:46PM

mvl wrote: »

was it for houses that didn't sell ?
think this guy had a good idea https://www.thisismoney.co.uk/money/mortgageshome/article-5633381/Could-win-home-5-Entrepreneur-sets-Raffle-House-platform.html

No brand new houses , you bought a ticket and there were multiple prizes ranging from small items to top prize of a house . When I was living there you could visit the site and over a few years there were already 5-6 houses on that site . All won on the lottery !

31-12-2018 10:36PM

LirW wrote: »

They sold for 100€ and they sold I think close to 9000, maybe even more.

While driving through the Fifth Province a few days ago I noticed that Meath GAA was having a draw for a house on 29 December. It was limited to a 'maximum of 12k tickets for sale', 'Tickets cost €100', '3-Draw Ticket: €250'.

The main prize was a 3-bed house worth €275,000 in Naaaaavan so not only could you get a house but you could have the honour of getting one of Ireland's most entertaining accents. There was a whole slew of cash prizes to beat the band on top of it:

Royal House Draw: win a house with Meath GAA

All the money was going towards a major redevelopment of Páirc Tailteann in Navan which will give the community there a great facility. So, if I'm going to spend €250 on a lottery, it makes much more sense to buy those tickets than to buy the equivalent in National Lottery tickets, where the odds of winning Euromillions are 140 million to 1, while the odds of winning the Lotto are 11 million to 1. Meanwhile the odds of being struck by lightning are a comparatively high 300,000 to 1 (Source).

In other words, somebody who chooses to gamble on any of the GAA draws with their comparatively restricted ticket numbers is a genius compared to anybody who gambles their money on the Euromillions or Lotto (and plenty of people would lose well more than €250 nett per year as a result of buying National Lottery products). And the money stays in the locality rather than going back to the Ontario Teachers' Pension Plan as is the case with much of the National Lottery's money now.

lawred2 · 31-12-2018 10:38PM

Ally Dick wrote: »

Sounds disgusting to me. Is it legal to do this? I have seen a few of them advertised. Was Barney Curley sent to prison from doing something similar?
This should be stopped. It sounds so crass in a housing crisis.

Why?

super_furry · 31-12-2018 10:53PM

What kind of tax would you be stung for if you won one, and wanted to sell it?

4068ac1elhodqr · 31-12-2018 11:15PM

The idea isn't bad, but if the raffle isn't 'independently verified' to be 'fair' it could be very messy.

How does such draw take place, is the lucky ticket physically picked from a hat or via software (RNG),
i..e How can be assumed to be fair, beyond all reasonable doubt?

The charity % issue must also be upfront and clear before tickets are sold.

31-12-2018 11:15PM

KERSPLAT! wrote: »

That's definitely not the case. There was one for Roscommon GAA yesterday and I've seen a few others advertised recently.

And if I recall, back in 1982 one Ray Coyle - better known as Mr Perri/Hunky Dory/King/Tayto/Tayto Park etc - decided that with land and house prices so low he would raffle his house at £300 a ticket. So he did:

"At the time, I owed the bank £1.2 m and had no way of paying it back," he admits. "I wasn't even able to raise enough money from selling my farm at the time," he adds.

In what can only be described as a stroke of genius, Ray decided instead to raffle his farm. Selling 4,000 tickets at £300 each, he was able to raise the £1.2m and clear his debts with the bank. (Ray Coyle: From struggling farmer to being Mr Tayto)

theguzman · 31-12-2018 11:31PM

CAT

Bubbaclaus · 31-12-2018 11:42PM

theguzman wrote: »

CAT

Nope

r93kaey5p2izun · 01-01-2019 12:12AM

Raffling cars and motorbikes seems to be all the rage lately so why not houses too!

Guy:Incognito · 01-01-2019 12:13AM

Fiftyfilthy wrote: »

Money goes to a deserving charity

Is it not GAA clubs and the like doing it?

KevRossi · 01-01-2019 02:06AM

Agent Coulson wrote: »

I see a County Boards doing them for the GAA all around the Country.

Another way for the GA to rake it in.

They probably sold the land to the developer to build the houses in the first place as well with the assurances that they get at least one free house out of the development.

Wrong.

House is in Ashtown in Dublin, just clicking on a link would have told you that, but don't let that get in the way of a rant.

yabadabado wrote: »

Roscomm GAA gave 10k to a charity,I presume that was to cover the charity aspect of the raffle.

Roscommon GAA like all GAA clubs is a CLG, Company Limited by Guarantee with all profits being reinvested back into the running of the organisation.

They should be strictly called 'Not for Profits' rather than a 'Charity'.

Anyway, a county of just over 60,000 people managed to raise almost €1,000,000 in less than 3 months, so fair play to them.

Numbers were printed out and placed into a large plexiglass drum, number was pulled by Roscommon manager Anthony Cunningham. It was done at a public event at the Hodson Bay Hotel last night.

I had a ticket and it seemed pretty transparent to me.

NIMAN · 01-01-2019 09:19PM

thelawman wrote: »

I remember a few GAA clubs doing it back in the day,

I bought a ticket for a raffle in Donegal to win a house.

It was run by a soccer club.

No joy, but fair play to them for organising it, must have taken some doing.

I did wonder what the tax implications might have been had I won it, but that was a problem I was happy enough to have.

jesuisros · 03-01-2019 01:04PM

NIMAN wrote: »

.........I did wonder what the tax implications might have been had I won it, but that was a problem I was happy enough to have.

Apparently you'd only have to pay Capital Gains if you sold the house for more than the advertised value as it was a competition prize.

weldoninhio · 03-01-2019 01:11PM

Deleted User wrote: »

What if it’s too far from your family, work, school, pub....

Leave it empty, wait for it to appreciate in value, sell for huge profit!!

heroics · 03-01-2019 01:48PM

weldoninhio wrote: »

Leave it empty, wait for it to appreciate in value, sell for huge profit!!

Sure if you only pay 100€ for the ticket why wait to sell it if you win?

weldoninhio · 04-01-2019 12:11AM

heroics wrote: »

Sure if you only pay 100€ for the ticket why wait to sell it if you win?

Property is rising in price all of the time. The longer you leave it empty, the more it rises, sell it when you think it’s reached peak market price. Be a handy spot to crash in the odd time for a weekend away etc. Free accommodation. Even if you miss the peak, once it starts losing value sell and you’d still be a few hundred thousand up.

CFlat · 04-01-2019 12:20AM

super_furry wrote: »

What kind of tax would you be stung for if you won one, and wanted to sell it?

If it's not your primary residence I think CGT.

Raffles for new houses

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