The Gold Coast mansion or $1.4 million of gold bullion?

The five bedroom Gold Coast mansion waiting to be won.
The five bedroom Gold Coast mansion waiting to be won. Adam Johnson

A LUXURY waterfront Gold Coast home or $1.4m of gold bullion?That is the enviable choice the person who wins the RSL Art Union raffle will have to make.

RSL Lotteries general manager Luke Traini said the raffle was the biggest gold giveaway in Australia's competition history.

"Life could be a dream if your name is on the winning ticket, you'd become an instant millionaire, and then some," Mr Traini said.

"We've given away some impressive prizes in our history, but never has any lottery in Australia given anyone the chance to win this much gold."

However, you could chose the five bedroom mansion on the canals in Broadbeach Waters.

The property, at 17 Alvarado Court, features an outdoor entertaining area with a swimming pool and the outlook is to Surfers Paradise city skyline.

Mr Traini said if was the perfect Gold Coast residence.

"The master bedroom looks right out across the canal, it would be a beautiful sight to wake up to each morning," he said.

"The double storey house features three bathrooms and the prize includes $124,981 worth of furniture and electrical appliances, as well as a $2,000 travel voucher.

"It's also an attractive investment option, renting for $1,200 per week, or $62,400 per annum."

Mr Traini said entries were limited to 1.55 million which were better odds than the lottery or Keno.

"A lot of people buy a $30 raffle book, which means the odds of winning could be as low as one in 200,000."

All proceeds from the RSL Art Union draws goes towards helping important RSL programs.

"Rehabilitation facilities, low-cost housing and support programs for Australia's veteran community and their families are some of the services funded by our prize home raffles," Mr Traini said.

The house is available to view from 9am to 5pm seven days a week.

Tickets for the RSL Art Union prize home lottery go on sale now and are $5 each from or by calling 1300 885 202.

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