Win 2million With Raffle House - Closed
Raffle House are offering entrants the chance to win "a dream home worth more than £2million" in their latest prize draw. However unlike in previous draws where the property has been designated this time round the prize is just £2million cold hard cash to achieve your property dreams. Tickets for this one cost from £10 and subscriptions are now an option.
Launched: 1st August 2023 Closed: 22nd October 2023
Platform: Raffle House
Location: UK, RM14
House Value: £2000000 (6 Bedrooms)
Ticket Price: £10.00 (Free Entry Available)
Tickets Sold: Unknown
Cash Alternative: 70% cash sum (after deductions)
Having adopted the Omaze model of big money properties, Raffle House have had a bit of a pivot and looked towards Tramway Path for inspiration. However unlike the latter - who gave away up to £500,000 to be used towards a property - Raffle House have upped the stakes by offering £2million as the prize. This money can be spent as you see fit. You could put it towards a multi-million pound house or perhaps you fancy being a property mogul and opt to create a portfolio of rentals. According to the website you could even just hold on to the cash and save it for a rainy day. As far as we can tell there's no caveat that says the prize money has to be spent on a property or any time limits as to when you must spend the cash. By the way, simply for a reference point, we've kept the location the same for the previous Raffle House draw.
About The Property
Usually at this point we explain a little bit about the property that you can win, but there isn't one! However Raffle House have obviously looked at previous draws at realised that whilst million pound dream homes are desirable they also come with their own set of problems. As we've commented on at different times a big house has big costs and they're not always manageable. There's no point owning a million pound property if you're broke. Interestingly a recent Daily Mail article (sorry) explained that only 3 out of 15 Omaze property winners are still in their prize homes. The other 12 have either sold or are selling their winnings. And it's not just big money houses that create issues. One of the big reasons why many property raffles have failed in the past is simply because people either didn't want the property or want to move to the area. Offering cash solves that problem!
How To Enter The Competition & Discounts
To enter the prize draw you simply need to select the number of tickets that you wish to purchase. It now operates in a very similar way to Omaze. For example for £10 you can get 15 tickets, £25 lands you 50 tickets, £100 buys you 100 tickets and there's a massive 2000 tickets should you wish to part with £300. However there is a free postal entry option. Note that you must be registered with Raffle House to use this option. For this prize draw Raffle House are supporting multiple charities and entrants are able to choose from one of over 25 charities to donate to. Like Omaze, Raffle House have also added a subscription option. This apparently gives you three times more tickets than a one-off purchase. Taking the option really depends on your faith in the platform.
As with Omaze there isn't a ticket target indicated on the site. All we know is that there's a closing date set for the 22nd October 2023. This draw also does have an early bird draw. Enter before the 17th September 2023 and you have the chance to win £250,000. According to the terms if by the closing date "the actual number of Entries received is less than the required number of Entries, the Competition will close and on the Draw Date there will be a Draw, at the sole discretion of the Promoter, by reference to the proceeds received from the Entries to award to the Winner the Cash Prize". This figure is determined as "70% of the total value of the total Entry Fees received up to the Closing Date net the Promoterís operational costs; less (2) the amount of the Charity Donation".
Raffle House have made an interesting move with respect to this draw. Offering a large cash sum to purchase a dream property (or keep the money if that's the option) offers so much more flexibility. People don't always want to move to multi-million pound properties in Cornwall or London, but using £2million to perhaps make the family mortgage free and stay in the same area they're already in has more appeal. Having cash to perhaps buy two, three, four or more properties is also appealing. We think that this move may well help create a lot more buzz for Raffle House. It's more flexible than Omaze and more money than Tramway Path. It'll be interesting to see how they both react to this - will Omaze consider offering cash and will Tramway up their prizes?
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