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Legal Commentary

: eLegal Canton

Can’t sell your house? - create your own lottery!

By David Canton

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Outlaw.com has an article about a British family that was having trouble selling their house.   So they sold £25 tickets and raffled it off.  They were successful enough that others are trying it too.  They apparently sold 46,000 tickets for a total gain of £1.15 million.  (The article doesn’t say what the house was actually worth.)

There are some wrinkles to this approach.  It captured the attention of the Gambling Commission, given the gambling/lottery laws.  One would have to take a close look at those laws in your jurisdiction.  And of course you set yourself up for a real loss if you don’t sell enough tickets.

Full post as published by eLegal Canton on May 22, 2009 (boomark / email).

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