Only 109,999 chances I won't win a million? - Here's my $20! - Gimme a raffle ticket!

Reply #29

recoveryroad — Thu, 19 Nov 2009 15:26:21 GMT

They've finally sold over 50,000 tickets as of today, but if raffle sales are this bad down here, I wonder how they're doing elsewhere in the country. You have a 1:492 chance of winning anything at all with ours, and a 1:29,412 chance of winning at least $5,000 or more.

When you look at it from a matter of fact perspective instead of focusing on the odds, you're hoping that your ticket will be one of the 2,034 winning tickets...out of the 1,000,000 tickets available. I can understand why peop... [ More ]

Reply #28

rdgrnr — Wed, 18 Nov 2009 19:43:48 GMT

I'd be nice if they still end sales on the planned date and still award all the prizes. I don't reckon they'd do that though.

Reply #27

recoveryroad — Wed, 18 Nov 2009 16:28:21 GMT

As of today (11/18/09) at 7 AM, my state has only sold 42,762 in 5 days. They don't even seem to be selling 10k tickets a day. I'm impressed that they were able to sell out so quickly during the July raffle (all tickets sold in 11 days), because at the current rate, they won't even be able to sell all of these by the end of December.

Reply #26

markp1950 — Tue, 17 Nov 2009 12:51:10 GMT

Over 195,999,999 in 196,000,000 chances that I won't win powerball here is my $1.....

MarkP

Reply #25

Rowen — Sun, 15 Nov 2009 04:19:44 GMT

Speaking of raffle, just curious if anyone ever play the private raffle like the ones held by church or children hospital. There are a couple in IL.

Reply #24

rdgrnr — Sat, 14 Nov 2009 19:34:53 GMT

That sounds good to me recoveryroad. Hope they save one or two for this old hillbilly. I'm in the lottery computer wasteland of Tennessee.

My tongue is a wallerin' out like a dyin' calf in a hailstorm waitin' to win anything in this state. FLA's gonna shake it up for me, I can feel it in my bones. Yessir

Reply #23

recoveryroad — Sat, 14 Nov 2009 16:51:23 GMT

I just checked my state's lottery site, and as of 7 AM today, so far only 10,841 tickets out of the million available have been sold. I haven't seen them advertising the raffle on tv too frequently yet, and I guess more people will buy when they do their Sunday shopping, but it seems like this one's going to take a while sell. Most likely won't be sold out by Thanksgiving

Reply #22

rdgrnr — Sat, 14 Nov 2009 00:13:08 GMT

Yeah, I better watch it afore they commence to institutin' some of my crazy idears. LOL

Reply #21

Coin Toss — Fri, 13 Nov 2009 23:11:01 GMT

rdgrnr,

Actually I would play it even if there were no lesser prizes becausethe odds would still be the same for the 3 millions and the lesserprizes wouldn't be life-altering anyway.

Please don't give the lottery commisions any ideas

Reply #20

tbraddock — Fri, 13 Nov 2009 20:07:11 GMT

Not sure I understand the $50,000 prize allotment (didn't read the details) but I'll definitely buy a ticket for a shot at the million. Good luck!

To make it simply, the first 9 Numbers drawn are the Million Dollar Winners.

10 through 19 are $50,000 Winners.

If one or More Million Tickets go unclaimed for 180 days, the 10th number drawn will get the difference of $950,000 dollars.

The Florida Lottery will try to contact the 10th number winner for 2 weeks. If still unclaimed... [ More ]

Reply #19

rdgrnr — Fri, 13 Nov 2009 19:36:26 GMT

Thanks for the heads up recoveryroad.

I'll be down there in the Ft Lauderdale area around Thanksgiving. Hope they last that long.

Not sure I understand the $50,000 prize allotment (didn't read the details) but I'll definitely buy a ticket for a shot at the million. Good luck!

Holiday MILLIONAIRE RAFFLE PRIZES

Over 2,000 Prizes From $250 to $50,000!

On Thursday, December 31, 2009, nine lucky players will each win $1 million, 10 players will each win $50,000, 15 players... [ More ]

Reply #18

recoveryroad — Fri, 13 Nov 2009 06:28:19 GMT

Down here they just launched a millionaire New Year's raffle for $1,000,000 as well... starting today, Friday the 13th, haha.

Only 1,000,000 tickets available...and the last time they ran one of these raffles it sold out in 11 days. Considering how bad the unemployment rate is, I wouldn't be surprised if this one sold out much sooner. It's the desperation...

9 winners for $1,000,000 ... 10 winners for $50,000 ... 15 for winners $15,000 ... and 2,000 winners for $250

I'll buy a ticket or... [ More ]

Reply #17

rdgrnr — Sun, 08 Nov 2009 10:58:03 GMT

Yeah, it's no super deal but that's why we have to look at it in a comparative manner. There just isn't a better shot at a million in any other game. The way I look at it is I'm taking a shot at one of the three million dollar prizes and getting one of the lesser prizes would just be a welcome bonus if I don't hit the million.

Actually I would play it even if there were no lesser prizes because the odds would still be the same for the 3 millions and the lesser prizes wouldn't be life-altering... [ More ]

Reply #16

markp1950 — Sun, 08 Nov 2009 09:14:07 GMT

Well using my formula and adjusting for the $20...

1,000,000/110,000 odds/20 price comes out to .4545 which comparatively is not bad.

Compared to Powerball this week @ 48,100,000/196,000,000 which comes out to .246

BUT this does not take into account that the raffle does NOT have any prizes below $500 which is very important.

Oh, yes, Virginia is a MM state, 48,000,000/175,000,000 or .273.....

Hey, if it doesn't kill you, play $20. But it not really a super deal either..

MarkP... [ More ]

Reply #15

savagegoose — Fri, 06 Nov 2009 20:57:14 GMT

yeah only the gov can run a lottery so inefficiently

Reply #14

rdgrnr — Fri, 06 Nov 2009 19:28:40 GMT

OK Floyd, understood, thanks.

Yeah, I'm just going for the million and not really thinking about the other prizes or concerned about the 20 bucks. Hell, you can't hardly get a full case of beer for 20 bucks anymore. I know the odds are that I'll get zip (again) but then again 3 people are going to get a million and all things being equal, I could be one of them.

Thanks again.

OK, Whitman, now I get it. I had been reading some of his stuff along with Emerson and Thoreau and others in the... [ More ]

Reply #13

KY Floyd — Fri, 06 Nov 2009 17:31:08 GMT

I realize I spaced out a bit while looking at the overall chances for the raffle. Back to that in a second.

People often refer to odds as good or bad, but that's a bit like saying that fractions are good or bad. After all, odds and fractions are thesame thing, and they're mostly meaningless until they're related tosomething else. The ad claim of best chance to win a million dollars is true, but it's not the whole story. They can always improve the chance of winning a million dollars by increa... [ More ]

Reply #12

Coin Toss — Fri, 06 Nov 2009 00:00:50 GMT

rdgrnr,

As far as a million dollar chance for $20, probably not.

I'm convinced though that the first lottery raffle was a marketing experiemnt and half the people at the lottery commission (whichever state it was, I forget) saying, Who is going to play this? and the other half saying, If you build it they will come (or, If you offer it they will play).

My biggest gripe with raffles is like I said before, the house is locking up $3.3 million of a $6.6 millions dollar take that they did n... [ More ]

Reply #11

rdgrnr — Thu, 05 Nov 2009 23:46:49 GMT

Coin Toss,

I understand what you're saying and it all makes sense. I understand the house take is outrageous. But discounting all the lesser prizes in this and other games, is there a game that will give me a better chance (odds wise) of winning a million dollars than this one with a twenty dollar bet?

With a minimum of a one million dollar prize as the sole objective which game anywhere would give me a better shot at it for $20?

I'm not being critical of your opinion, just trying to u... [ More ]

Reply #10

Coin Toss — Thu, 05 Nov 2009 21:28:46 GMT

regrnr,

A little more. Let's take even the lowest jackpot game jackpot, in Illinois it starts at $2,000,000. So you bet a buck and the Lotto Fairy says Today is your day and you hit for a solo. Your dollar just won $2,000,000.

The Lotto Fairy decides it's somebody else's lucky day and they hit the raffle for $1,000,000.

The other person's $1 on Lotto won $2,000,000. That dollar became a two million dollar dollar.

The raffle winner put up $20 to win $1,000,000. Each one of their doll... [ More ]

Reply #9

Coin Toss — Thu, 05 Nov 2009 18:33:30 GMT

rdgrnr,

True, but consider this. Let's compare a raffle and a card room operation. In poker rooms the players all put into the pot and the hopuse rakes 3% to 5% of the pot.

In Califronia card rooms, and others, along with raking the pot they sell seats at the game by the hour.

In a raffle, the rake is 50% of the total pot.

OUCH!

Now let's copmpare a jackpot game and a raffle. If we go back to the first ever drawing of every game, the lottery, the state, put up front money as the j... [ More ]

Reply #8

wantolearn — Thu, 05 Nov 2009 18:19:10 GMT

Interesting.

300 winners getting $500.00 each = 150,000

6 winners getting $25,000 each = 150,000

3 winners getting $1M each = $3M

Virginia's profit = 3,300,000

Reply #7

rdgrnr — Thu, 05 Nov 2009 18:09:22 GMT

Coin Toss

Correct me here because I don't understand how they could run the raffle at $1 and still have comparable odds which is the attraction for this game. At $1 a ticket wouldn't they have to sell 20 times as many tickets to have the same prize allotment and thereby make the odds a lot worse

Reply #6

rdgrnr — Thu, 05 Nov 2009 17:54:24 GMT

You got my head spinning there Floyd (I have the math skills of a lug wrench).

Are you saying I would be better off putting $20 on Lotto Plus because it's only slightly less likely to win a million and a better chance to win a lesser prize, making it an overall better choice

Reply #5

JAP69 — Thu, 05 Nov 2009 17:32:18 GMT

Raffle tickets have been a popular item with players in the past. There have been some reported winners here at lottery post.

Had a Ga player with a Ga raffle win I think for one.

Do a raffle search at lottery post and you may find discussion on the topic.

Reply #4

dr65 — Thu, 05 Nov 2009 17:31:08 GMT

Can't hurt to take a shot at it. Good luck if you decide to give it a go

Reply #3

KY Floyd — Thu, 05 Nov 2009 17:19:02 GMT

Actually, there are 329,997 chances you won't be a millionaire. Overall, out of 330,000 tickets there will be a total of 309 winners, making the overall odds of not losing your $20 1 in 1078.4. Compare that to a $1 ticket with odds of 1 in 21,568 to win your money back.

Right now TN lotto plus is advertising a jackpot of $3.9 million. They don't seem to post it in an obvious spot, but I'll assume it's an annuity, and call the cash value $2 million, or twice as much as the raffle. The odds of... [ More ]

Reply #2

time*treat — Thu, 05 Nov 2009 08:27:46 GMT

Well, somebody's got to win it.

Reply #1

Coin Toss — Thu, 05 Nov 2009 08:18:14 GMT

Better than Illinois' 500,000 ticket affair, but it's still a bookie's dream.

330,000 tickets sold @ $20

309 winners

329,691 losers.

If these raffles were a $1 affair, same as a lottery ticket, they would be a good deal.

As a $20 affair, the pot ain't right .

Good luck though, if you participate.

Only 109,999 chances I won't win a million? - Here's my $20! - Gimme a raffle ticket!

rdgrnr — Thu, 05 Nov 2009 07:49:39 GMT

I might be a sucker for raffle tickets but this new one from Virginia seems to have pretty good odds (for the top prize anyway). What do you think?

----------------------------------------------------------

Virginia s New Year s Millionaire Raffle

With the best chance ever of winning $1 million from the Virginia Lottery (1 in 110,000). This game will crown three NEW millionaires on January 1, 2010!

Sales begin November 1. Only 330,000 tickets will be sold.

On January 1, 2010, a dr... [ More ]