Affordable housing is rare in London. This makes it hard for buyers to find a house they can afford. Saving for a deposit as well as being able to get a mortgage is proving to be more and more difficult. This is the reasonwe thought about running a skill competition where entrants have the opportunity to win a house or a cash prize.
We must sell 120,000 entries to give the house away as a prize. In the event that we do not receive 120,000 paid entries by the Closing Date, the prize will not be the Prize but will be a cash prize which will be 50%* of the total amount of Payments received less the transaction fees. We hope that the winner will use that money toward buying a house. Every little bit helps with the deposit!
*The 50% figures refer to all entry fees received but excludes the payment processing fee. For example if 100,000 tickets were sold at £11, total entries would be £1,100,000 less payment processing fees would be £1,000,000. Therefore the winner would receive 50% of £1,000,000 which is £500,000.
The extra funds received will pay for the costs of running the competition (e.g. marketing, and legal fees) and a return to our investors for funding it. We plan to reinvest our profits into offering more properties to be won by this method. In an ideal scenario, we will make enough money to offer more properties as prizes, so that everyone will have a chance of winning a house.
We will pay stamp duty and all legal fees associated with transferring the house to the winner. Please refer to our terms and conditions for further details.
Yes the furniture will be included.
The winner of the house will need to insure it from the time it is transferred to them. They will also have to pay Council Tax and for utilities. Solar panels have been installed on the roof of the house to lower the costs of electricity. The house could be rented out or sold by the winner if they do not want to live in it.
Yes the entry process involves answering a complex skill question, which means that it does not fall within the definition of a “lottery” under the Gambling Act 2005. Distributing a prize by this method is legal in Great Britain and does not require a license.
There is no requirement for the promoter to be regulated as the activity does not require a licence. We have made sure that we looked into all aspect of the law that relate to skill competitions, so that we comply with both the Gambling Act 2005 and ASA CAP Code.
The Skill Competition is open to all residents of any country where such competitions are permitted by law and all entrants must be 18 years or over. It is the responsibility of the individual entering the Skill Competition to ensure that doing so would be lawful in the country of their residence and that there would be no restriction on them winning and accepting the Prize or the Cash Prize. We are governed by UK regulations that govern skill competitions as detailed in the Gambling Act 2005.
Due to our payment processor not accepting payments from certain countries, the residents of countries listed below will not be able to enter the skill competition:
- Czech Republic
- Hong Kong
- United Arab Emirates
- United States of America
All payments received will be billed in Pound Sterling (GBP) and subject to the typical and current exchange rate at the time of the transaction.
Until end of day on August 18th 2020.
Visit our website, fill in the entry form and make a payment of £11 and answer the skill question. Without answering the skill question your entry will be considered invalid. You will not be told if your answer is correct or incorrect. If you plan to buy more entries at a later date, you will need to answer a skill question again. We do this to make sure that entry to the competition always involves the exercise of skill.
The maximum number of entries per individual is restricted to 1000.
Yes and this will increase your chance of winning.
You will receive confirmation on the entry page and an e-mail confirming your entry. You can also view all your entries on your account page on our website. You will not be told if your answer is correct or incorrect.
The draw is conducted using a random number generator by an independent third party Sterling Lotteries.
You will be notified by telephone and e-mail using the details that you provided when you entered. For this reason, it is important that you check your contact details are correct. If your details change, please notify us by e-mail at firstname.lastname@example.org.
Sterling Lotteries Lottery Payment Manager v2 platform is a fully PCI Compliant card payment platform. Supporting the latest TLS v1.3 encryption to keep card data secure in transit.
Card details are never stored on Sterling servers, all card details are sent to and processed by Barclaycard SmartPay.