John Posted February 10, 2009 Share Posted February 10, 2009 Hello evileva, welcome to the forum! I hope you don't feel as if I am picking on you. people enter this raffle thinking they will win a house The rules are clear to me. If people choose not to read it or don't understand and still paid then that is their problem and not the organisers. at this current rate of ticket sells, it would have sold 258 tickets,(prize pool = £12900 - 25% = £9675, It is 35% when you take the charity share into account. 1/258 odds for £9,675 8,385 is far better than 1/55,491 odds for winning ~£1,500 with 5 numbers! Sure it £50 vs £1 but buying 50 x £1 tickets is still worst odds than with this. hardly life changing is it! I never said it was. and a long long way from the original price I would expect people to have factored this possibility in. the good bit is the origaniser will have made £3225 for doing very little The cost of newspaper adverts, radio air time, creating the website, legal fees, time, e.t.c. then they still end up with a flat that could potentially have been sold months ago so they have lost interest and income during this period including having to pay 50% council tax. I would think they would be lucky to break even selling just 258 tickets. You'd have a point if they sold upward of 1,000 but I am at a complete loss why people have picked up on this and use it as their case in point to call others buying these tickets stupid. Buying £50 worth of lottery tickets only £25 goes to the prize fund compared to £32.50 with this. 50p paid to winners in prizes; 28p given to good causes; 12p goes to the Government in Lottery duty; 5p paid to National Lottery retailers on all National Lottery tickets sold; and 5p retained by the operator to meet costs and returns to shareholders. For the record, I don't work for these people and I haven't bought a ticket. Link to comment Share on other sites More sharing options...
John Posted February 10, 2009 Share Posted February 10, 2009 This: Q: What happens if 3,600 is not reached? A: If the goal is not reached by the closing date, we will do a cash draw and the Winner will receive the total amount of cash received as set out in more detail in the Terms and Conditions. Is contradicted by this: Closing the Competition 40. If by the Closing Date the Maximum Number of Entries has not been received then the following will happen: 40.1. The Winner of the Competition will be determined in accordance with the method described in clause 35 above; 40.2. The Promoter will be entitled to retain 25% of the entry fees to cover administration, professional service fees and marketing expenditure; 40.3. The Promoter will donate 10% of the Gross Entry Fees to Sheffield Children's Hospital Charity; 40.4. The remaining balance following this deduction is the "Prize Fund". The Prize Fund will then be distributed to the Winner. Once again some elements of this point to incompetance and/or inexperience. Unless they are presenting themselves in a manner that may attract the attention of the OFT? Selective highlighting reads differently to reading it as a whole. Unless I've completely misunderstood, I don't see your point. Link to comment Share on other sites More sharing options...
evileva Posted February 10, 2009 Share Posted February 10, 2009 Selective highlighting reads differently to reading it as a whole. Unless I've completely misunderstood, I don't see your point. i dont do the lottery either as the odds are so bad it unreal. i play poker where i am in control of the game or roulette where the odds are 3% against you and not 35% as in this raffle Link to comment Share on other sites More sharing options...
evileva Posted February 10, 2009 Share Posted February 10, 2009 another thing do you watch magic on tv, the slide of hand etc, what chances of a mates of company boss winning the raffle? Link to comment Share on other sites More sharing options...
Claret Posted February 10, 2009 Share Posted February 10, 2009 i dont do the lottery either as the odds are so bad it unreal. i play poker where i am in control of the game or roulette where the odds are 3% against you and not 35% as in this raffle Sorry, but you lost with 'I play poker where I am in control of the game or roulette'. Link to comment Share on other sites More sharing options...
John Posted February 10, 2009 Share Posted February 10, 2009 i dont do the lottery either as the odds are so bad it unreal. i play poker where i am in control of the game or roulette where the odds are 3% against you and not 35% as in this raffle Confused.com The odds aren't anywhere near 35%. Right now it 2.33% based on 43 tickets sold and it will get worst as more tickets are being bought. Calculated by (ticketOwned / ticketSold) * 100 The chances of winning the prize is 0.02778% based on all tickets sold. It a mug game thats for sure but someone going to win and say otherwise. Link to comment Share on other sites More sharing options...
evileva Posted February 10, 2009 Share Posted February 10, 2009 but the chances of you winning is 0 as the draw could well be fixed Link to comment Share on other sites More sharing options...
evileva Posted February 10, 2009 Share Posted February 10, 2009 Sorry, but you lost with 'I play poker where I am in control of the game or roulette'. if you are a average to good poker player, the odds are always in favour of a good player as you can work out the odds to see what value you are getting for each hand, dumb people who cant work out this raffle is bad will never understand poker so i will be wasting my time Link to comment Share on other sites More sharing options...
Claret Posted February 10, 2009 Share Posted February 10, 2009 Ok - forget the odds and forget the fact that the developer is going to the overall winner here. The fact is that there is a chance for you to win an apartment worth £50k plus and given that the entrance fee is £50, i don't think that's a bad return! Ok, there is also a chance that all the tickets will not sell and you might just win, what, £7k, £9k whatever. I still think it's a pretty good return on £50. Saying all this, I haven't bought a ticket. Ha ha!! Link to comment Share on other sites More sharing options...
WilburrUK Posted February 10, 2009 Share Posted February 10, 2009 Ok - forget the odds and forget the fact that the developer is going to the overall winner here. The fact is that there is a chance for you to win an apartment worth £50k plus and given that the entrance fee is £50, i don't think that's a bad return! Ok, there is also a chance that all the tickets will not sell and you might just win, what, £7k, £9k whatever. I still think it's a pretty good return on £50. Saying all this, I haven't bought a ticket. Ha ha!! In that case, I have a little proposition for you, If you give me £50, I'll let you have a go at the Wilburr Challenge. You get to pick 26 cards from my deck at random, If you get all the black cards, you can have my house. How does that sound ? I'll even throw in a consolation prize of your £50 back if you get all the red cards. Presumably you think that's a good deal too as it meets all the criteria above (actually it's a house, and worth more than the apartment, but you can always sell it or rent it out). Link to comment Share on other sites More sharing options...
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