My curiosity was peaked when I reviewed the payouts for the upcoming INDIANA HALLOWEEN MILLIONAIRE RAFFLE. A minimum of 2 $1,000,000 prizes will be awarded nationally, and one $50,000 prize awarded to each state that does not have a $1,000,000 winner. Tickets are $10 each. Odds are based on number of tickets sold, however odds cannot be given because there is not a limit on the number of raffle tickets that can be sold! WHAT? Doesn't a raffle usually consist of a set number of tickets, thus knowing what the odds are before $10 is shelled out per ticket?
There are 7 states involved with this "raffle". Of course it is stated "the more tickets sold, the more $1,000,000 prizes available. Here's what's needed to increase $1,000,000 payouts (had to look at another participating state to find, Indiana does not list it): "After combined sales of four million dollars ($4,000,000.00) plus one hundred thousand dollars ($100,000) multiplied by the number of participating lotteries minus one hundred thousand dollars, each jurisdiction shall contribute fifty percent (50%) of its sales to the prize pool as needed to fund additional Grand Prizes." Huh, I must have missed something... Yep... 4 or 5 paragraphs down... "For each two million dollars in combined sales by the Participating Lotteries beyond the initial [sic] funded four million dollars plus one hundred thousand dollars multiplied by the number of participating lotteries minus one hundred thousand dollars, an additional Grand Prize shall be awarded." Well, that certainly clears that up!
The last Indiana raffle paid out 2 $1,000,000 prizes based on 500,000 tickets alone. This raffle will have raffle tickets with 8 digits... hmmmm 99,999,999 is eight digits! That's almost like playing a multi-state lottery, not a raffle. Should you choose to play this game and by chance win, check with your state on when it must be validated! The drawing is November 01, 2013. Iowa states "A winning Halloween Millions Raffle ticket purchased in Iowa must be signed and presented to the Iowa Lottery with a completed winner claim form and appropriate tax documentation by 4. p.m. Thursday, January 30, 2014. Maybe a 90 day claim period increases unclaimed prizes.
I hope my win comes soon, because the odds, they are a changin'!