MoneyMagpie

Join MoneyMagpie today!
Log in or Register.
Aug 05

House raffles do work

Reading Time: 4 mins

Benno Spencer, CEO of Raffle House, talks about how house raffles are evolving, and how some are changing their customers’ lives after his company awarded the property in its most recent draw.

House raffles have received their fair share of negative press in the past, often because the competitions’ promoters failed to sell the minimum number of tickets required to award the property and a cash-prize was awarded to the winner instead.

But since the start of the year, more than five properties have been successfully raffled, including our £500,000, two-bed London apartment which was won by 27-year-old Niomi Boontam from Bournemouth earlier this month.

Because we met our minimum ticket threshold, Niomi was also given the keys to a brand-new £30,000 Land Rover Discovery Sport. For Niomi, buying a ticket to our competition was absolutely life-changing in every sense of the word.

When we broke the news of her win, she said: “I never thought I’d actually win. This morning I was shaking, my hands were shaking, and I was thinking, this is not real, but I checked on RaffleHouse.com and started reading it all and…oh my goodness! It’s amazing.

“I live with my other half and we’re renting and it’s a lovely location but we don’t own it. I don’t have the words to describe this. This has just made lockdown worthwhile.”

So why have house raffles been successful now and what changes have the operators of these draws made to ensure they award the property as the top prize? A lot of it is down to the experience gained by running previous competitions.

 

Lessons learned from previous competitions:

When property raffles rose in popularity over two years ago, many vendors saw it as an easy way to achieve unrealistic values for their properties. They also failed to effectively market and advertise their draws or set up a legally sound operation.

This meant that the minimum ticket thresholds – often high and unrealistic to reach – were not met and, as a result, properties were not awarded. In some cases, cash-prizes were awarded instead but there was often a discrepancy between the value of tickets sold and the prize awarded.

Furthermore, many competitions were shut down by the Gambling Commission for not sticking to the appropriate law and regulations. The result? Bad headlines and a big dent in customer sentiment.

 

Customers demand and deserve transparency:

This is why Raffle House has gone to great lengths to be transparent and open about everything we do. We have even published information about the financial aspect of the current property we are raffling so that entrants can better understand the costs associated with awarding the property.

In addition to this, we have 24/7 customer support which can be contacted publicly or privately plus open social media channels where we respond to all questions and queries.

We also have a Trustpilot ticker that appears across the Raffle House website, inviting customers and visitors to investigate what people think of us in an open, third-party forum.

This has allowed us to build incredible trust among our 55,000 strong player base and has been instrumental in us blasting past the minimum number of ticket sales required to award the property for the competition we just closed.

We have also learned a lot about how to market our competitions, the cost of marketing and the incentives we need to offer our players to add more value to the tickets they purchase – we award £1,000 every week to one lucky player for the duration of our current draw.

 

Why you should enter house raffles:

With house raffle operators in a stronger position to ensure properties are awarded, now really is the time to enter draws so you can be in with the chance of winning an amazing apartment or house from a low-cost ticket.

Tickets to our current competition cost just £2 but do your own due diligence into every operator before buying in; not every promoter takes the same pains as we do and that means potential disappointment.

Here are some of the other benefits:

Great odds of winning: you are more likely to win a house raffle competition than a lottery such as Euromillions or the National Lottery. With the total number of tickets to be sold at the threshold set at 650,000, the odds are hundreds of times better than Euromillions’ 1 in 139,838,160

Regular draws: at Raffle House, we are on track to have successfully carried out two property draws this year with even more planned for next year. Ultimately, we want to be able to award a property to someone every week of the year.

Incentives for multiple ticket purchases: unlike most lotteries, when you enter a house raffle you are often given discounts and free tickets when you purchase a set number of tickets to the draw. This gives you even more chance of winning the jackpot prize.

Extras: when you enter a house raffle competition, you will often find there are other prizes up for grabs including cash prizes, cars, technology packages and even once in a lifetime holidays. And all this from the same ticket you purchase to the main draw.

Charitable donations: just like when playing big-name lottery draws, house raffles usually donate a percentage of ticket sales to charitable organisations. Raffle House raises money for homelessness charities Centerpoint and Housing for Women.

As you can see, there are plenty of upsides to entering house raffle competitions and now that some operators know what they need to do to make sure the property is awarded, the odds are better than ever before of winning an amazing apartment or house from a low cost ticket.

As the saying goes, you have to be in it to win it. And if you want to be in with the chance of winning our latest property, a £750,000 house in South East London, all you have to do to enter is click here and save more than 55% when you spend £30 or more.

 

WHAT DO YOU THINK?

0 0 vote
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Related Articles

Experian Financial Control
 

Make Money and Save Money

ideas for everyone
 
Send this to a friend