LewisK1975 Posted October 30, 2019 Posted October 30, 2019 Just seen this on Facebook - I've entered, gotta be worth a shot for £50? Quote
Sibob Posted October 30, 2019 Posted October 30, 2019 (edited) I'm not really sure how I feel about this types of promotions. I certainly understand that it's a great deal if you win, but not sure I'd want to spend £50 on nothing as most of the entrants will be doing. Again, not sure how I feel about them.....as such, won't be entering. Good luck to everyone though, does look like a lovely bass Si Edited October 30, 2019 by Sibob 2 1 Quote
Jakester Posted October 30, 2019 Posted October 30, 2019 23 minutes ago, Sibob said: I'm not really sure how I feel about this types of promotions. I certainly understand that it's a great deal if you win, but not sure I'd want to spend £50 on nothing as most of the entrants will be doing. Again, not sure how I feel about them.....as such, won't be entering. Good luck to everyone though, does look like a lovely bass Si Our local guitar shop ran a promotion like this - £5 a ticket, limited to ‘X’ tickets, on a fairly middling PRS guitar. I think it was 150/200 tickets, though I may be wrong. If you add that up, they’re making more than the retail price of that particular guitar if they sell all the tickets. Not sure what actually happened, mind, as I think the deadline got extended and then it went from the window. From the shops point of view, a good way to make a profit on slow moving stock! Quote
jrixn1 Posted October 30, 2019 Posted October 30, 2019 3 minutes ago, Jakester said: From the shops point of view, a good way to make a profit on slow moving stock! That would not be allowed. https://www.gamblingcommission.gov.uk/pdf/quick-guides/running-a-lottery-quick-guide.pdf Quote Customer lotteries These can only be run by a business, at its own premises and for its own customers. No prize can be more than £50 in value. This type of lottery cannot make a profit, and so is unsuitable for fundraising. No rollovers. Quote
Jakester Posted October 30, 2019 Posted October 30, 2019 14 minutes ago, jrixn1 said: That would not be allowed. https://www.gamblingcommission.gov.uk/pdf/quick-guides/running-a-lottery-quick-guide.pdf Well, they did it... 1 Quote
EBS_freak Posted October 30, 2019 Posted October 30, 2019 So what's been determined then? Legal... or illegal? Quote
Chris2112 Posted October 30, 2019 Posted October 30, 2019 I saw this advertised on Facebook and thought it a good idea, though the entry fee is maybe a little steep (I see performance cars getting flogged in Facebook lotteries for £20 a ticket all the time, with more tickets sold but less customer outlay). I didn't realise it was actually illegal. The regulations around gambling are rather strict. Quote
Dan Dare Posted October 30, 2019 Posted October 30, 2019 Hmmm. As a betting man, I don't fancy those odds. A stake of £50 and a 50/1 shot. Think I'll pass, thanks. Quote
Beedster Posted October 30, 2019 Posted October 30, 2019 I'd assumed it was for charity, is that not the case? Quote
Chris2112 Posted October 30, 2019 Posted October 30, 2019 Whatever the case, they have really supercharged their social media presence since Marcus got on board. I see YouTube videos and Facebook posts every day. They're really rising from obscurity to bring the Enfield brand to the fore. Quote
taunton-hobbit Posted October 30, 2019 Posted October 30, 2019 I used to be in the gaming machine business - this is illegal, end of - Facebook is stuffed with this stuff and the 'operators' never seem to get pulled - maybe it's too much like hard work for the Authorities? 😎 Quote
EBS_freak Posted October 30, 2019 Posted October 30, 2019 4 minutes ago, taunton-hobbit said: I used to be in the gaming machine business - this is illegal, end of - Facebook is stuffed with this stuff and the 'operators' never seem to get pulled - maybe it's too much like hard work for the Authorities? 😎 This one seems a little (oo-er) because it's a lottery as opposed to a "prize draw" with an element of skill involved. These things tend to come accompanied with a question to answer so there's an element of "skill" involved in the process. There's quite a notable youtube raffling off a Golf R at the moment in such a manner. (https://planetofdreams.co.uk/product/the-youtube-famous-560bhp-golf-r/) There was a similar business idea presented to Dragon's Den and they laboured the point about being a prize draw with an element of skill to remain on the proper side of the law... Anyway, I did a little googling and this turned up - Legal problems Raffles risk being shut down if they breach the Gambling Act 2005. Only charities and not-for-profits are legally allowed to sell prize tickets where the result is based on chance. To avoid being classified as an illegal lottery, a prize competition must involve an element of skill. So a raffle must ask entrants a quiz question that is tricky enough that a significant proportion will get it wrong and won’t be eligible for the prize draw. The Gambling Commission has clamped down on raffles, taking action against 42 competitions in 2017 and 2018. PayPal and Eventbrite have stopped their services being used for house raffles, making it difficult to set up a secure payment method. Another obstacle is HMRC, which may regard the proceeds from raffle ticket sales as income subject to income tax and capital gains tax. (from https://www.moneywise.co.uk/property/buy-sell/moneywise-investigation-are-dream-home-raffles-turning-nightmare) Can't see Marcus keeping this one up for long... Quote
taunton-hobbit Posted October 30, 2019 Posted October 30, 2019 The side issue (which no-one wants to consider) is where any 'profit' from this stuff ends up. Leaving aside the HMRC interest, a lot of online money funds drugs, prostitution, terrorist activity and all sorts of other stuff that you wouldn't think was ok. ....just sayin'....... 😎 Quote
jrixn1 Posted October 30, 2019 Posted October 30, 2019 2 hours ago, Dan Dare said: Hmmm. As a betting man, I don't fancy those odds. A stake of £50 and a 50/1 shot. Think I'll pass, thanks. It's 49/1 😀 But to know if it's a mathematically favourable wager, you also need to consider the value of the prize. Zero sum would be £2500 (50 entries x £50). The bass lists for £2599. Quote
LukeFRC Posted October 30, 2019 Posted October 30, 2019 4 minutes ago, taunton-hobbit said: The side issue (which no-one wants to consider) is where any 'profit' from this stuff ends up. Leaving aside the HMRC interest, a lot of online money funds drugs, prostitution, terrorist activity and all sorts of other stuff that you wouldn't think was ok. ....just sayin'....... 😎 You suggesting that Daesh might take a 50/1 odds on getting a guitar they can then sell on secondhand* to another bass player as a way of laundering money? *"Regretfully brothers need to sell the best guitar I've ever played. It's amazing but Osama prefers the my old Rickenfakers sound etc etc" Quote
LukeFRC Posted October 30, 2019 Posted October 30, 2019 2 minutes ago, jrixn1 said: It's 49/1 😀 But to know if it's a mathematically favourable wager, you also need to consider the value of the prize. Zero sum would be £2500 (50 entries x £50). The bass lists for £2599. Lists and "sells for" are sometimes not the same thing. I'm guessing if you turned up to look at one of their £2599 basses and asked for a 4% discount to pay and walk away with a sale that day they would probably do that... 2 Quote
EBS_freak Posted October 30, 2019 Posted October 30, 2019 Gosh, times were a lot simpler when 50 quid would buy you a second hand Argos Encore bass from the local newspaper classifieds. 1 Quote
LukeFRC Posted October 30, 2019 Posted October 30, 2019 5 minutes ago, EBS_freak said: Gosh, times were a lot simpler when 50 quid would buy you a second hand Argos Encore bass from the local newspaper classifieds. I saw one today on Facebook marketplace for £35. Times have changed! Quote
taunton-hobbit Posted October 30, 2019 Posted October 30, 2019 10 minutes ago, LukeFRC said: You suggesting that Daesh might take a 50/1 odds on getting a guitar they can then sell on secondhand* to another bass player as a way of laundering money? I'm not suggesting anything - merely stating that money 'earned in this way often has unpleasant side effects, some prostitution mob that got sent down recently were using cattle prods & tasers on the girls to 'encourage' them to work- I don't find that acceptable, ymmv.............. 😎 Quote
LukeFRC Posted October 30, 2019 Posted October 30, 2019 15 minutes ago, taunton-hobbit said: I'm not suggesting anything - merely stating that money 'earned in this way often has unpleasant side effects, some prostitution mob that got sent down recently were using cattle prods & tasers on the girls to 'encourage' them to work- I don't find that acceptable, ymmv.............. 😎 erm... that's a fair way from a UK limited company not realising this kind of 'raffle' isn't legal under UK gambling laws! Quote
taunton-hobbit Posted October 30, 2019 Posted October 30, 2019 Not necessarily - and that's the problem..................... 😎 Quote
Dan Dare Posted October 30, 2019 Posted October 30, 2019 1 hour ago, jrixn1 said: It's 49/1 😀 But to know if it's a mathematically favourable wager, you also need to consider the value of the prize. Zero sum would be £2500 (50 entries x £50). The bass lists for £2599. Oh, well if my chances of winning are 2% better than I thought, I'll have a ticket now... The value of the prize doesn't come into it. It's the chance of winning that is important if you are considering a gamble. If that wasn't the case, everyone would be backing the 100/1 outsiders at the races (which they don't, or at least only the idiots do). Oh and btw, it is a 50/1 shot. Quote
Dan Dare Posted October 30, 2019 Posted October 30, 2019 2 hours ago, Chris2112 said: Whatever the case, they have really supercharged their social media presence since Marcus got on board. I see YouTube videos and Facebook posts every day. They're really rising from obscurity to bring the Enfield brand to the fore. Wonder if they do what a lot of "custom builders" do. Use Warmoth parts and assemble and finish them nicely. Quote
EBS_freak Posted October 30, 2019 Posted October 30, 2019 23 minutes ago, Dan Dare said: Wonder if they do what a lot of "custom builders" do. Use Warmoth parts and assemble and finish them nicely. Nope. Quote
LukeFRC Posted October 30, 2019 Posted October 30, 2019 27 minutes ago, Dan Dare said: Wonder if they do what a lot of "custom builders" do. Use Warmoth parts and assemble and finish them nicely. Enfield is an offshoot of Sims ... they are kinda like a lower profile London equivalent of overwater, but with the uks best renouned spray shop. It’s more likely they are making parts for other builders when they want higher quality than Warmoth Quote
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