A couple have decided to gamble it all and offer their near half-million pound house as the top prize in a self-run competition with the hope to clear their business debts.

The plan to give away the home in West Yorkshire, that will be the top prize in a free to enter competition, is to generate enough profit from advertising during the competition to clear the debt and cover the cost of the house.

The couple, who are both 50 start a chocolate company in 2004 which has run into financial trouble. The trouble arose from unknown failed payments to their credit card company which resulted in a court judgement being filed against them and then a computer programmer taking £12k from them and not delivering.

They have set their sights on making over £850k over the duration of the competition from advertising on their website which will host the competition.

The couple have reportedly contacted the Gambling Commission to check their legal position on carrying out a competition for their home as several others like this have fallen foul of the law and been shut down before completion.

The launch date is set for November 2nd and will run for 12 weeks offering 20 chances to enter a day each after clicking on advertisers. An entrant will then be selected at random each week and put through to the final for a chance to win the house.