Good point, Ally still gets his money back and the fundraiser gets a big boost!Originally Posted by Mr Curta
Hat off to you, great gesture!
Dave's raffle was 100% altruistic with full proceeds going to Nepal.
This raffle is achieving full asking price with additional ticket monies going to the fundraiser. It's a novel way of selling but I don't think the two are comparable.
Dave gave away his favourite watch at the time for a cause that meant a lot to him.
Which is why I never drew any comparison with Daves incredible donation. I quite simply am not in a position to offer the same.
As I understand it to be lawful a 'private lottery' must:
1. list the name and address of the promoter on the ticket. Not sure if OP would want to give this out to 100 people.
2. not be for private gain. Not sure this is the case here, if OP intends to take £3750 out of the proceeds.
Don't want to be negative about a nice gesture, but equally wouldn't want a nice gesture to lead to trouble for the OP.
Great gesture OP - count me in
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Guy I know won a BMW 1 series for £200 on a bonus ball raffle couple of years ago. There was a Facebook page for this type of thing a couple of years ago but then it all went quiet.
I'd buy a ticket.
You will probably get 80 out of 80 tickets sold.
If its 100 tickets you may only get 60 sold.
It's not private gain. The "prize" has a value. If the promoter retains that value only then there is no gain.
I'm in, sounds like fun!
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If you decide to go with this you can count me in for a ticket.
I wonder whether this would be classed as a 'Private Society Lottery'. As I understand these can only be promoted for charitable or non-commercial purpose. I think in this case where there is an OP who buys and sells watches and who intends to keep the £3750 'value' of the prize (and since the recent sale of the Sub was at a good price how is this 'value' to be assessed?) it would be advisable to seek advice about whether this lottery could be deemed to be for private gain or commercial purpose. If the £3750 is used to fund further watch purchases which result in a profit could this be deemed a commercial purpose?
I'm sure I'm overthinking this, but would hate the OP to be caught out.
Your right you are overthinking it, way I see it he's not gaining £3750 the only way the op would gain is in the difference between what he paid for the watch and what he sold it for (which could be a loss)of which he's giving to the fundraiser
I think there may even need to be a raffle to get a chance to buy one of the 80 tickets to start with...!
There is a MTB suspension service company who has been going bike raffles. £3 per ticket to win a £6k bike. He's had to have an external company to do the draw in order go comply with the law after some bedwetter reported him (he was pulling names out of his woolly hat) I'm pretty confident that he financially benefits from it so I see no issue with that side of it.
You can get some ideas from trf[after dark thread]
You need random org,
a gtg where the draw will take place,as there has to be as many ticket owners as pos.[10 should be the minimum]
purchases through paypal with donation or invoice,
if not 80 tickets sold then you refund,
Dunno abt taxes or anything has to do with your financial laws.
gl
I'll have a ticket
Deleted
Last edited by Analogue; 15th September 2017 at 03:24.
I'd be in for a ticket too!
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It would be not the whole 4k to charity of course. Still this would be an awesome gesture and a fun event for the forums!
OP edit thread title?
Wasn't the idea of the thread to find out, if the tickets would be sold?
As for ways of determening the winner and collection of the money I'd connect the drawing to some official lottery results that can be checked by everyone and give every participant a random number. And for collecting the money, I guess paypal gift option would be alright. There is online services that do the whole raffle, but I think they take around 5% share.
It was and they've all been sold.
Sorry, I did not realize the thread was posted so fast. Wasn't aware this already had closed. Can't believe I missed out on it. :-(
That was quick, cant believe I missed that thought I was being thorough checking in. Lol.
Good luck to all who entered and well done op, nice gesture.
I was surprised how quick they all sold. Luckily I saw the thread on SC about 15 mins before they were all gone.
Its a great idea imo, thanks OP
Great idea. I would be up for it.
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Way too late to the party dude.
Aye, so it seems.
Did everybody pay, if yes what time is the draw?
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