Homeowner forced to postpone £1 million raffle
Brian Wilshaw has fallen foul of the Gambling Commission after plans to raffle his home were suspended until a review of the terms of the raffle. He has already sold 46,000 tickets at a cost of £25 which will raise just over £1 million although when all costs and expenses are deducted he would actually receive £1 million, i.e. the current value of his home and additional property.
The Gambling Commission has request sight of any entrance questions to the raffle as they claim such draws may be breaking the law if they are open to the whole of the UK population. Mr Wilshaw has shown them evidence of a fishing related question and the fact that only 500,000 in the UK might possibly know the answer straight away. He believes that this will cover the possible breaches being investigated but as ever with regulators, nothing is certain.
While Mr Wilshaw is not the first person to look as such a novel way of selling his property, we could either see the practice erased forever or a trail of copycats in due course. The chance of acquiring a £1 million home for £25 certainly appeals to a great number of people!
Share this..
Related stories
Lloyds bank confirms 95% take-up of rights issue shares
Lloyds bank has today confirmed that 95% of the new shares on offer in the £13.5 billion record-breaking rights issue have been taken up by existing shareholders. This leaves a relatively small amount of shares to be placed with institutional shareholders and allows the company to move on to stage two of its financial restructuring which will see a further £9 billion injection for the company's...
Read MoreWhy did David Cameron use the services of Lord Hutton?
The long-awaited review of the public sector pension situation has been revealed today with former Labour Cabinet minister Lord Hutton leading the way. There is speculation that David Cameron used Lord Hutton, and his many Labour contacts, so that the release of today's report would be smoothed in some way with regards the expected backlash from opposition parties. Despite the fact that the uni...
Read MoreThe free broadband revolution that will cost you!
The UK government has this week announced plans to roll out broadband across the UK and ensure that families from low-income backgrounds have access to such services. This proposed substantial rollout of broadband has been welcomed across the board although as ever the devil is again in the detail.
While the government has been very proactive of late on the broadband front it now ap...
Conservatives cut benefits for young people
29/09/2014 David Cameron has announced that a Conservative government would restructure the benefits system for 18-21 year olds. The prime minister said that if the Conservatives win the next general election, then they would cut the maximum household benefits cap from £26,000 to £23,000. He also said that 18-21 year olds would be treated differently to other people in the benefits syst...
Read MoreWhy is the Scottish economy lagging the rest of the UK?
Over the last few months it has become obvious that the Scottish economy is currently the weakest in the UK and the situation could get worse before it gets better. Despite the fact that the UK as a whole, including England, Ireland, Wales and Scotland has pulled away from the recession the situation is still very difficult north of the border. There has been constant friction between the SNP g...
Read More