Property Lottery???

[Russ]

Does anyone know what the legalities are behind setting up a property lottery?

 

[Jayne]

Daily Mail do something a bit like this, the win a dream cottage!

Is this the sort of thing you were thinking off?

If you promised to put my ticket to the top of the hat, i'd buy one :lol:

Jayne

 

[Russ]

Hi Jayne

Yes that is the kind of thing except I was going to do it along the lines of the "Million dollar Pixel Page"
with each entrant buying a pixel as an entry..... or as many entries as they wish.... Better odds than the national lottery and I think quite a quick way of raising some funding for a business venture?

Anyone got any thoughts on this?

 

[NickGJ]

Hi - just picked up your enquiry into property lottery.
I am currently some way down the line in developing a business on this - contact me if you want to discuss

Many thanks

Nick

 

[A13KS]

I am currently running a competition at winmyspace.co.uk.
I have spent the last 8-9 months researching this & building the website.
Please feel free to have a look & ask me any questions.

 

[Scott-Copywriter]

To be honest this Pixel page stuff has been overused to the point of it being useless in normality. You'll have to really put across the chance of winning a property in the Domain name and any advertising/marketing or people are just going to not even bother clicking.

The chances of getting 1,000,000 people to pay a Pound each is also very low. The click-to-buy rate will be low so you will probably need ten's of millions of visitors. So just be prepared to cut the draw short once you have a decent amount of entrants or people are going to be waiting a long time, possibly forever.

On the bonus side though. If you're giving away something big like your house you could raise some media attention.

 

[A13KS]

I agree with the pixel page stuff. It was a great idea (why didn't I think of it) but it has been done. Property lotteries have also been done but many have not been succesful due to the promoting of it or just the trust factor. Many have been "faceless" & the honesty of the competition is questioned.
My competition winmyspace.co.uk I have limited sales to 10,000 tickets & am closing it in December 06. If enough tickets haven't been sold the first prize reverts to a cash prize. I am also donating money to charity. 1,000 tickets sold = £1,000 donated. All 10,000 tickets sold, bonus £2,500 donated. Possible total of £12,500 to G.O.S.H.
Everyones a winner!

 

[Optegris]

I agree with the pixel page stuff. It was a great idea (why didn't I think of it) but it has been done. Property lotteries have also been done but many have not been succesful due to the promoting of it or just the trust factor. Many have been "faceless" & the honesty of the competition is questioned.
My competition winmyspace.co.uk I have limited sales to 10,000 tickets & am closing it in December 06. If enough tickets haven't been sold the first prize reverts to a cash prize. I am also donating money to charity. 1,000 tickets sold = £1,000 donated. All 10,000 tickets sold, bonus £2,500 donated. Possible total of £12,500 to G.O.S.H.
Everyones a winner!

Can I ask how many tickets you have sold so far and how long the competition has been running?

Nice flat by the way

 

[A13KS]

The competition has been running for just shy of 3 weeks. Just returned of a 2 week holiday so not had a lot of time to spread the word yet.
I am just sending out the press release tomorrow to all local newspapers & radio stations and I've also pulled a few strings with a couple of national newspapers as I work within the Newsprint Industry.
The only promoting so far is a banner hanging outside the flat and an email that I have sent out. I am also working on some more promotion ideas.
I have sold around 200 so far.
Thanks for your comments about the flat. Its a great place.

 

[didier07]

Your website is very impressive, as are the looks to your website. I must commend you on the ethos to your site and the way you have gone about apporaching this idea. Can i ask a few more pressing questions?
- What are you expecting your costs of advertising to be?
- what legal advice did you take before setting this up. Did you get a solicitor to write the terms and conditions, or did you write them?
- In your experience what is the best avenue you have had the most success in selling your tickets?

 

[Balls]

A good idea. In Australia especially in sunny Queensland they have these dream homes by the water which are palmed off in lotteries run by charities. What is a charity? well that depends on how and why you want to do a property lottery.

The Income tax act in many countries provide various definitions and because of the dual taxation agreement between many nations these days you can actually jurisdiction shop on this one till you get the most liberal and convenient then apply to the place of domicile and beyond.

If you need help let me know. Good idea always a market for it.

 

[fifi]

Any updates on this? Has anyone actually sold a property in a lottery?

 

[pawelsza]

started seal houses with lottery in Roland, first one already sold, another 5 on sale now, best luck with it in other countries!!!!

 

[The Resolver]

I have recently advised on a house lottery and just written terms on a similar prize lottery. The main law here is that, if you charge for entry (why else do it?) it must be a game of skill. So the question should not be too easy to answer. This is a grey area. There are guidelines being that there is skill if it deters a significant number from entering the compettion or prevents a sigificant number from winning.