Since there's a few threads about raffles...Prev TopicNext Topic

• Coin Toss

  

  Zeta Reticuli Star System
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  January 17, 2006
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  Apr 8, 2011, 6:34 pm

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  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?

  Those who run the lotteries love it when players look for consistency in something that's designed not to have any. So many systems, so many theories, so few jackpot winners. 

  

  There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.
• rdgrnr

  

  100

  The Hall Of The Mountain Kings Tennessee
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  April 28, 2009
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  Apr 8, 2011, 10:26 pm

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  In response to Coin Toss

  Quote: Originally posted by Coin Toss on Apr 8, 2011

  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?

  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.
• sully16

  

  25

  Ringleader

  Michigan
  United States
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  October 28, 2009
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  Apr 8, 2011, 11:11 pm

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  I would like to see more prizes.

   
• joker17

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  June 1, 2009
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  Apr 9, 2011, 12:26 am

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  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.
• Stack47

  

  Kentucky
  United States
  Member #32,651
  February 14, 2006
  10,301 Posts
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  Apr 10, 2011, 11:25 am

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  In response to Coin Toss

  Quote: Originally posted by Coin Toss on Apr 8, 2011

  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?

  "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.