David Canton is a business lawyer and trade-mark agent with a practice focusing on technology issues and technology companies.



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May 22, 2009

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

Tags: , — David Canton @ 7:16 am

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.

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