Is the writing on the wall for house raffles?
They’ve been around as long as the Rat and Mouse, the change to win a home for the price of a ticket, and while the type and location of the properties have been various, one thing has been fairly consistent: a property doesn’t tend to change hands at the end of it. That’s because there’s usually a clause stipulating a minimum number of ticket sales, and a cash prize as an alternative. Which magazine has been doing some research, looking at the value of these cash alternatives and some taxation black holes in the small print, and is launching a campaign for greater scrutiny. Could the writing be on the wall for house raffles?