Gambling on your house!

From time to time we get enquiries from people wanting to sell their house and having difficulties in doing so even in these buoyant times in the current housing market.

One option that some people consider and ask our advice about are so-called  “house raffles”. Essentially this involves the homeowner offering their house as a prize  in return for either the purchase of a ticket in a draw or paying to enter a competition. The Gambling Commission have recently issued updated guidance on this topic and a link is  to the guidance can be found here 'Don't take a gamble raffling your home'.

If you are thinking about this as an option as the article by the Gambling Commission says, you need to be very aware of the law surrounding this area and take specialist advice otherwise you could fall foul of the law.