Heard a story today and thought, mmm, that might work so I thought I'd share and get your feedback.

The idea is to sell your car using a lottery type system, thus securing the money for the seller but also benefitting others.

Using round figures, for example:-

The seller decides on the price, to include the sale price of the vehicle and 'incentives' to get required number of 'players'.

e.g. £17000 + £1000 + 2x £500 + 5x £200 = total of £20000

Number of players = 100

So, all 100 players buy a unique lottery 'ticket' for £200 to cover total figure of £20000.

Winning player gets the car, in essence for £200.

Runner up gets £1000

Next two get £500

Next five get £200

Seller gets £17000

Clearly not to be played every week but for a specific car you want or for a quick profit. Nine out of the hundred would 'win' or break even.

Depending on the overall asking price of the vehicle you may need more of less players, depending on a reasonable figure all are prepared to pay for their ticket.

Thoughts?

Chubbs

Been tried and found illegal unless you apply for a Gaming and Lottery licence from the Local Authority and abide by their strict rules.

As he said ^

Also, you'll find a similar thing happening in airport lobbies ("win a 911 for £10!")