Since there's a few threads about raffles...

Reply #4

Stack47 — Sun, 10 Apr 2011 15:25:52 GMT

Why do the lotteries that put on raffles have to lock up 50% of what comes in?

Because they view raffles as just another lottery game.

Many state lotteries are complaining about lower revenues and some are considering leasing their lotteries. They could use raffles as promotional tools giving the players 75% of the raffle income and still make a nice profit. Having that type of raffle 4 times a year would entice players to spend some of their winnings on their other lottery games.

Reply #3

joker17 — Sat, 09 Apr 2011 04:26:15 GMT

Why do the states only pay out 50% of the odds in P-3 and P-4? Simple greed.....

Just like big games too, why should they be able to tax the JP? They're already making tons of money....

This is why I strongly prefer playing online. 90% is a much better payout in the P-3 and P-4.

Reply #2

sully16 — Sat, 09 Apr 2011 03:11:00 GMT

I would like to see more prizes.

Reply #1

rdgrnr — Sat, 09 Apr 2011 02:26:40 GMT

They're government agencies, which means money is their lifeblood. It's just the nature of the beast. If they could get away with keeping 99% they would do it.

But they have to deal with the basic principle of 'whatever the market will bear'.

When the market won't readily bear that 50% holdback they'll adjust accordingly or stop having raffles like TN did.

Leastways that's what I think.

Since there's a few threads about raffles...

Coin Toss — Fri, 08 Apr 2011 22:34:58 GMT

Why do the lotteries that put on raffles have to lock up 50% of what comes in?

Why not 40% or 25%?

A 500,000 $20 a ticket raffle with 509 winners brings in $10,000,000 and pays out $5,000,000. It's pure gravy for the lottery. Keeping $4 million or $2.5 million isn't enough?

Any thoughts