Is gambling for whisky worthwhile?
We all know the reputation of Scotsmen supposedly being tight with their money. Apparently us Aberdonians are supposedly able to take this to a much higher level. Because if I have to tell people my favourite word in the English language, it has to be the word “free”. “Gratis” will also do, but that’s an extra two letters and I’d want to be economical with those as well. Yeah, getting something for nothing, it really is attractive to us Doric speakers.
Aberdonians and those from the North East of Scotland really appreciate economy, probably best illustrated by the apocryphal story of a farmer from the Peterhead area wanting to place the death notice for a recently deceased family member. He learns of a special offer in the Press & Journal, the daily provincial newspaper of NE Scotland, where the first 7 words of the death notice are free. He phones the classified ads dept, and tells the lassie at the other end of the phone of his intended notice.
He wanted it to say “Sandy Reid, Peterheid, deid.”
The lady at the end of phone is puzzled by the brevity of the notice and asks if he wants to say anything else as he hasn’t even used all of his 7 free words.
After much thought he says “Aye lassie. Make it say – Sandy Reid, Peterheid, deid. Tractor for sale.”
So it goes to say if we can’t get something for nothing, we’ll definitely be looking for a bargain. While I am not able to confirm if my second favourite words are ‘sale’ or ‘discount’, you’ll get the gist. And to be fair, it’s not just the likes of me who prefers to get something for a lot less than the RRP. It’s often human nature to be interested in obtaining things without needing much effort and if you could get something hard to source, rare or expensive it becomes even more alluring, but how would you feel if your quest for easy winnings isn’t really all it’s cracked up to be.
For those who collect whisky or are interested in obtaining bottles that aren’t available in the retail market or are beyond their normal price range, there are growing numbers of opportunities to get those relatively unobtainable bottles. But these come with a catch.
I’m getting bombarded with advertising on social media for whisky raffles. Well, they aren’t raffles as raffling a prize for a non-charity profit is illegal in the UK, so they are termed as a competition. To make it legal to perform a draw, you are required to answer a skills based question prior to buying a ticket, which according to the law is supposed to be able to prevent the majority of people who attempt the question being able to enter. I’ve yet to see a question that is difficult at all, and some of them have the answer on the bottle right beside the question! A case in point was I asked a friend who had no specialist knowledge of whisky to answer some of the questions on a couple of sites and he scored 10/10. So essentially most of these sites are still running raffles.
To me, these competitions are possibly fun, but in my opinion they are a rip off and cause damage to the whisky community at large. Here is my reasoning.
1. The chances of winning the bottles is quite low. Ticket prices are often not that expensive but if you buy ten, then even if there are only 500 tickets for sale, your chances of winning are still quite dismal relatively speaking. That is simple statistical fact, also driven by the opinion I have that if I shell out some of my hard earned cash then I’ll be wanting a return.
2. It is my opinion that some of the people running these competitions source the rarer whiskies from auctions. This is based on some of the whiskies involved. They don’t worry about overpaying as all they have to do is adjust the price of the ticket so enough profit is generated. One example was of a site raffling a Hibiki 17. To be honest, I have no real knowledge of how they came to source this prize, but there aren’t a lot on the open market. This was a popular and now discontinued blend though and it is still sought after. Average auction prices were at the time £550. Retail price was around the same or slightly lower in some cases. The gross takings should all the tickets be sold was over £1100. See what I mean about a rip off?
3. Another issue about sourcing these whiskies at auction is that if they continually overpay to get the desirable bottles, this could contribute to the increasing price distortion prevalent in sectors of the secondary market. What it actually does is put more whiskies out of reach of the dedicated whisky drinking enthusiast. They are little better than flippers.
One such site says that they were fed up of losing out on inaugural releases and wanted to improve peoples chances of accessing rare or desirable whiskies. This cannot be further from the truth. Let’s return to that Hibiki – at the time of the auction concerned, there was a Hibiki 17 available at retail for £440. All you had to do was walk into the Speyside Whisky Shop or go on their website and hey presto! A prestige whisky could have been yours.
Now, just think how many tickets you could have bought before you win a bottle which will probably be worth a lot less than you have ‘invested’ in these prize draw sites. I personally have to think as a comparison about how many times I’ve played the UK National Lottery scratch cards then inwardly sob when I realise how many bottles of Macallan 18 year old I could have bought with that money compared to the couple of bottles of Famous Grouse I would be able to buy with the winnings I’ve had so far. If I start reviewing 1926 Macallan, then you know I’ve eventually hit the jackpot.
In conclusion, easy access questions and making it appear you have a chance may make it more tempting to enter, and why not? If a little flutter is your thing, it may not concern you. In my mind however, the low odds, the fact that many sites are potentially helping to distort the secondary market further, plus putting limited releases increasingly out of the hands of those genuine enthusiasts have made me think they aren’t good for the whisky community as a whole and are best avoided.
The thrill of gambling and the potential to win big for relative little outlay is understandable but you’ll likely spend a lot more than any return, which means you will not be able to buy as much whisky.
That can’t be a good thing, can it?