Have you seen the raffle to win a dive resort?

[NYCNaiad]

Just saw the raffle linked below where they're selling tickets to win their dive resort in Micronesia, Kosrae Nautilus Resort. Initially, I thought it was a bit sketchy. However, the more I dig into it, the more logical it seems.

They will only award the island if they sell 50,000 tickets. At $49/ticket, this means they'll have raised $2.45 million USD which is likely more than they could get for selling the island & this will also happen faster than a sale. If they don't sell 50,000 tickets, they will just split the money with the winner. So overall, it's a total win-win for them & a win for the winning ticket holder as well.

The resort has been in business for some time & seems to have had great reviews beginning in 2007. Wondering if anyone has been there from Scubaboard & what you think of this whole raffle idea?

What do I Win? – Win The Island Estates

 

[Oldbear]

We are just one island over from them...it is a really nice resort.

But what is cool about this for the Seller, they have a minimum of 50K tickets. So if he sells them all he gets a great price for his resort. If he doesn't sell all of them he still stands a good chance of making a pretty penny on the split of the ticket sells.

This type of raffle I have been told is not legal in the US...but what a great idea here in the Pacific.

 

[NYCNaiad]

Cool. Glad someone I "know" thinks it's a good resort. Thanks for the info. I'm totally going to enter.

Raffles like this are difficult in the US. Not completely illegal, but there are many hoops you have to run through and it gets expensive so very few people do it.

btw I went to school for a year in Westminster while living in Boulder. CO is great!

 

[WarrenZ]

I guess the odds are better than the lottery if they are honest with selling the place.

 

[NYCNaiad]

I guess the odds are better than the lottery if they are honest with selling the place.

Yep. I think it's an awesome way to sell their place, make money & let the average joe win an established business. Plus, it's nice advertising for the place too. It's just brilliant! It sucked me in & most people I've spoken to about it as well. lol

 

[SCRedWolf]

The raffle sounds really cool, yet a bit scary at the same time. I'm an engineer so what do I know about running a resort? If I win be sure to watch Gordon Ramsey's new show "Dive Resort Hell".

 

[NYCNaiad]

Well, they do talk about what would happen if you don't want to (or can't) manage the resort. They say that the staff have been there for a long time and would be able to step in to assist if needed. I kinda like the adventure of it all.

btw, you're the 2nd person who said a reality show might be good though the other person said it would be a way to make extra income and perhaps ensure that they don't make too much of a mess of it. lol

 

[SCRedWolf]

They say that the staff have been there for a long time and would be able to step in to assist if needed. I kinda like the adventure of it all.

Hmm, I didn't read that far into the website (shame on me). And I absolutely agree with you on the adventure of it. I grew up as a military brat moving around every few years. As a result of that I get wanderlust a lot and would love a grand adventure. On the plus side Trip Advisor shows that resort as being #1 of 2 hotels on the island, lol.

 

[CuzzA]

Brilliant. Why can't this be done in the US? Can someone site a law? I'm assuming it has something to do with gambling and games of chances rather than skill.

 

[NYCNaiad]

Brilliant. Why can't this be done in the US? Can someone site a law? I'm assuming it has something to do with gambling and games of chances rather than skill.

It is my understanding that it not illegal on a federal level except when it is a business that regularly engages in online gamlbing or gambling wages to provide income (Wire Wager Act). However, raffles are guided by state law as well and many states only allow raffles if the entity holding the raffle is a recognized charity. Furthermore, if you are going to hold a raffle across the US, you'd need to check each state's laws which can be quite quirky and cost prohibitive. For instance, NY state where I live also says you have to make sure your county and the surrounding counties not only allow it, but that they also provide written consent. In addition, NY says that no single prize in any raffle can exceed $100,000, you have to get a games of chance license, and on and on. Oftentimes, lawyers are engaged to verify all the laws before a raffle is held. (I'm not a lawyer, but I looked into this for a charity event I was holding.)