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Lottery Raffles

Topic closed. 11 replies. Last post 10 years ago by cps10.

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Mid-Atlantic
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September 20, 2005
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Posted: November 6, 2006, 11:04 pm - IP Logged

So what does this group think of the new trend in Raffles with set amount of tickets being sold?

    justxploring's avatar - villiarna
    Wandering Aimlessly
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    Posted: November 18, 2006, 12:40 pm - IP Logged

    This is a good subject.  Todd just posted an article about the FL New Year's game, so you might see some answers on that thread.  I found this one by searching.  I am not sure what I think. $20 for one ticket is a lot of money for me, although I see people spending $100 or more every week at the counter for scratch tickets or Lotto.  I might buy 1 or 2, since the odds of 125,000 to 1 are much better than 22 million to 1 for the 6/53 game, although the payoff is less.  Even if I buy 20 Lotto tickets, my odds are still 20 in 22 million.

      bobby623's avatar - abstract
      San Angelo, Texas
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      Posted: November 18, 2006, 1:11 pm - IP Logged

      Raffles are better than the regular scratch card games, IMHO.

      Main reason is that often the top prizes in a regular game are won, but the cards continue to be sold. 
      In these instances, folks who don't take the time to check out latest info, are buying worthless tickets - worthless in the sense that they think they can win big when all they are likely to win are small prizes, or no prizes at all.

      Not everyone who buys a raffle ticket will win, of course.

        Todd's avatar - Cylon 2.gif
        Chief Bottle Washer
        New Jersey
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        May 31, 2000
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        Posted: November 18, 2006, 3:22 pm - IP Logged

        Spain's El Gordo lottery started this a long time ago -- these raffle games are nothing new.  They also copy the fact that El Gordo's biggest raffle was at Christmas.  El Gordo means "The Big One".

         

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          floridian's avatar - DiscoBallGlowing

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          Posted: November 18, 2006, 4:33 pm - IP Logged

          Spain's El Gordo lottery started this a long time ago -- these raffle games are nothing new.  They also copy the fact that El Gordo's biggest raffle was at Christmas.  El Gordo means "The Big One".

          I am not sure I like them because it is pure dumb luck if you win.  There is not any strategy to it.  However, the odds seem to be better.  But maybe it is all dumb luck anyway.

          I started a thread about  Florida,s Holiday Millionaire Raffle to see if it would peak some LP players interest if such a thing was available in their state.

          The facts:

          Each ticket costs $20.00

          Total sales not to exceed 1,250,000 selling stops on 12/30 or sooner if max ticket sales reached.

          Prizes  10    first prizes     $1,000,000 each      odds 125,000:1

                      20  second prizes  $100,000.00 each    odds  62,500:1

                     100  third prizes     $ 10,000.00 each      odds  12,500: 1 

          The total amount raised is $25 million, total paid out about $13 million.  About 52%, typical for Florida.

          I guess if you look at overall odds to win something and the cost per dollar wagered, based on other lottery games, it could be considered quite favorable.

          I suppose their is some strategy, like how many tickets to buy, I do not know if when to buy would give you any advantage.  Maybe, some of you math wizards could comment on this.

          F

            stavros's avatar - avatar 6898.gif
            Florida
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            Posted: November 18, 2006, 4:47 pm - IP Logged

            I am not sure I like them because it is pure dumb luck if you win.  There is not any strategy to it.  However, the odds seem to be better.  But maybe it is all dumb luck anyway.

            I started a thread about  Florida,s Holiday Millionaire Raffle to see if it would peak some LP players interest if such a thing was available in their state.

            The facts:

            Each ticket costs $20.00

            Total sales not to exceed 1,250,000 selling stops on 12/30 or sooner if max ticket sales reached.

            Prizes  10    first prizes     $1,000,000 each      odds 125,000:1

                        20  second prizes  $100,000.00 each    odds  62,500:1

                       100  third prizes     $ 10,000.00 each      odds  12,500: 1 

            The total amount raised is $25 million, total paid out about $13 million.  About 52%, typical for Florida.

            I guess if you look at overall odds to win something and the cost per dollar wagered, based on other lottery games, it could be considered quite favorable.

            I suppose their is some strategy, like how many tickets to buy, I do not know if when to buy would give you any advantage.  Maybe, some of you math wizards could comment on this.

            F

            Floridian.....dumb luck or not, I'll take it any way I can get it.  The odds are much better in this "raffle" than planying other games.  I'm going to cut back a bit on my pick 3/4's and buy some of these raffle tickets.

            Stavros

              floridian's avatar - DiscoBallGlowing

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              Posted: November 18, 2006, 5:14 pm - IP Logged

              Floridian.....dumb luck or not, I'll take it any way I can get it.  The odds are much better in this "raffle" than planying other games.  I'm going to cut back a bit on my pick 3/4's and buy some of these raffle tickets.

              Stavros

              Stavros:

              Man! you are correct the odds are a lot better.  I just was trying to see how everybody felt.

              I too will bite the bullett and buy some tickets.  What the heck its Christmas soon.

              Unlike Bob P I am not running for political office so I don't care who thinks spending $20.00 for a raffle ticket is silly.

              F

                cps10's avatar - Lottery-004.jpg
                The Carolinas - Charlotte
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                September 12, 2005
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                Posted: December 14, 2006, 4:29 pm - IP Logged

                I know this was kind of dead...but is EL GORDO the same thing?

                How does this work? You get a ticket with a ticket number on it, like say 123456. And what happens? Do they draw a ticket out of the hopper to be declared the winner and then they distribute other prizes based on that ticket number? Or are balls brought out of the hopper? I see that EL GORDO pays 1 in every 6 tickets. That's not bad is it?

                The North Carolina Education Lottery - so much a joke that here are their mascots:

                Stooges

                  Tenaj's avatar - michellea
                  Charlotte NC
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                  Posted: December 14, 2006, 4:32 pm - IP Logged

                  CheersI like them.  I wish NC had some.

                  takeemtothebank

                    cps10's avatar - Lottery-004.jpg
                    The Carolinas - Charlotte
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                    Posted: December 14, 2006, 4:33 pm - IP Logged

                    I wish it were modeled after the EL GORDO...that seems, from what I've read, to be as good a chance as any to win anything worth a crap. And you have a decent shot at winning a ton of money.

                    The North Carolina Education Lottery - so much a joke that here are their mascots:

                    Stooges

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                      Delaware
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                      Posted: December 15, 2006, 5:57 pm - IP Logged

                      Spain's El Gordo lottery started this a long time ago -- these raffle games are nothing new.  They also copy the fact that El Gordo's biggest raffle was at Christmas.  El Gordo means "The Big One".

                      Actually, it means "The Fat One" literally translated. Appropriately named too. I think it might be one of the most generous lotteries in the world. And besides, have you ever met a fat guy who isn't loveable? Big Smile

                        cps10's avatar - Lottery-004.jpg
                        The Carolinas - Charlotte
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                        Posted: December 17, 2006, 7:15 pm - IP Logged

                        Actually, it means "The Fat One" literally translated. Appropriately named too. I think it might be one of the most generous lotteries in the world. And besides, have you ever met a fat guy who isn't loveable? Big Smile

                        Nope...I'm told I'm pretty lovable :) LOL

                        The North Carolina Education Lottery - so much a joke that here are their mascots:

                        Stooges