House Raffle Scams

"Sorry Ted. I was reading the ticket upside down!"

The National Lottery advertise everywhere even though the average return is less than the cost of a ticket. People aren't buying a return, they are buying a dream. For the cost of the ticket, you get to dream about how you would spend the millions if you win.

These house lotteries are pretty much the same deal. Its a bad investment, but your chance to dream. I wouldn't call them scams. Someone does win.

Some more regulation would be welcome, but I dont think they should be kept out of the papers.

"Nobody ever wins these houses, probably not even one in Ireland has been won."

That's not true.

The winner is usually a friend of a friend of a friend... Wink wink......

haha CPC

g'dluck with that, I sent them info on an actual scam & all the details on it & who did it and it took them 1 whole year to get back to me. I sent them further details and they basically told me that there was a slim chance of any repercussions for the perpetrator and they'll probably get away with it.

Not a small scam either, I rightly estimated 100k plus in a very short timeframe and directly from defrauding consumers.

I wouldn't call these house raffles a scam as such, the consumer knows and is informed that if the tickets don't sell there will be a raffle anyway for a lesser amount of money. The one mentioned in the article is being ran by a company that has a fairly decent track record in this type of thing too. I would say it is greed though on the owners part - she dresses it up as "giving hope" to someone who might not have a house when in reality all she wants to do is give herself a fat cheque above market value on the back of that "hope".

Also unregulated doesn't automatically equal scam - pcp finance being a big one although that is due to change this year.

Why do the Gardai not investigate? The gaming and lotteries act is pretty strict.

There has definitely been real winners. I'm not saying there aren't lots of scams, but to say there are never any winners isn't true.

Girl I know won a house in a gaa club draw, someone got her the ticket for her 30th. Wasn't an inside job as she'd no connection at all to the club.

If you're not in, you can't win.

How many posters here have been refused a mortgage. 1or 2 or ??

It seems that the GAA used these raffles as a fundraising mechanism fairly regularly.

Usual t and c is that purchase of the ticket enrols the purchaser in the relevant club until after the draw.

This stipulation is probably required under the law granting the permit to run the draw.

24,000 tickets at €100.

If done right this can work.

Clare GAA has one too.

Someone wins the lotto once in a blue moon too.

The lotto is often derided as a tax on poor.

Those who least can afford it spend proportionately more.

It too started as a pseudo charitable idea to "support" good causes.

Have to love the first link.

It says

"It also found staff and directors have won a prize in 30pc of the credit unions that operated a draw."

Massively important but tiny letter "a".

Charlie Weston doing his best to sensationalise the issue.

From reading the article it is clear that poor governance is involved rather than outright criminality.

The third article is the same as the first one.

The second is more interesting.

It too relates to the same Central bank investigation referenced in the other 2 links.s

Regarding the staff member winning it seems to have been entitled to purchase a ticket, which he did. And the rates smiled on him and he won.

Obviously the CU realised how this could be interpreted (see one Charlie Weston) and proceeded to exclude staff from participating in draws.

We're there improprieties?

Of course.

Was there widespread criminal activity?

Based on the linked Central Bank article, no.

Incompetence, amateurish behaviour, misplaced trust definitely.

Regarding your chances of winning big tonight they are the same probably as mine, provided I buy a ticket.

Either way the Canadian Teachers pension fund will thank us.

The lotto is a tax on stupidity and best part about it is proportional.

For the same money (Circa €200) I would rather buy share in Providence Resources and wait for the oil to come up in my life time.

The lesson learned is a fool and his money are soon parted.