13th Jan 2012: Announcment

 

During the last few days we have been in correspondence with The Gambling Commission. The Gambling Commission considers the Prize Property competition a lottery, rather than a competition and they have demanded immediate closure.

 

Our legal advisers have a very different opinion and are of the view that, as structured, the competition fulfils all the requirements of the law.

 

The law relating to gambling is complex. We have the option of challenging this decision through the Courts. This process is likely to be both time consuming and costly, a six figure sum has been mentioned. Despite the confidence we have in our legal team, the two of us, with our normal working lives and limited funds taking on a Government body, with unlimited time and money, through the Courts, is not a risk that we feel we can take.

 

Consequently, the Prize Property competition has been withdrawn. A full refund to all entrants via PayPal has already been made – every person who entered, whether they got the questions right or wrong, will get their entry fee(s) back. For this to happen in an orderly fashion you are requested not to make a refund request of PayPal, which will only delay the process further. An email has been sent to each entrant, concurrently.

 

We would like to thank everyone who supported us in this exciting project, (especially those who had the courage to take part) and for the good wishes we have received. Our website, Twitter and Facebook pages will be withdrawn at the end of January.

 

Graham.