Protouring Raffle Poll

[YoungGun]

Actually im looking at it from a totaly different perspective. I'd rather be in the raffle with the fewest number of possible competitors. If the tickets in a 1000 dollar raffle are 100 bucks, I have a in 10 chance of winning if I bought just 1 ticket. Assuming others dont spend more (and they might,) there are only 9 more players in the game with me. Now break that same raffle into 50 dollar tickets and now there's 19 people (assuming they all bought one), or any other broad combo now because people will start buying multiple tickets.



My point is, that by raising the price of the tickets you are decreasing the number of competitors in the raffle. cheaper tickets=more people playing=worse odds for me.

Or I'm just retarded.
/did real bad in math.

Your math works but just think about it this way...if you buy one 100 dollar ticker...you have whatever odds it is. 1-100. So if it were 50 dollar tickets and you buy 2, you have the same odds. Same odds for same amount of money, but more people can get involved when they buy just the single $50.

I am a college kid, I dont want to spend 100$, thats why I am saying 50$...we all got our reasons...I am not trying to pick on yours, its what most of us are thinking anyway!

Tim

[Jim Nilsen]

Since this won't happen without the sponsors. It would be best to find what each one wants to bring to the table. If we let Frank get the lowdown from them all and maybe a few more that want to show up and be included. Maybe one of those engine masters competition engines or something to put in by a magazine we could have one heck of a car for a pretty good price.

When Frank figures it out we could then negotiate enough tickets to get Larry what the site needs to keep going at the pace it is growing. Since this is a non profit site? we could then decide how many tickets would be sold to suggest the odds.

I still feel that if you are worried about the odds you are losing the spirit of the whole deal. Guys with more money get more chances and get better odds. I like the idea of $25 tickets and 4 chances for $100 over 1 chance for $100 but that is just me maybe. I just want more coverage and more people in it to keep it interesting to more of us and others that may watch. We could also let the sponsors decide since it is their donations that will be creating the car anyway and the more people the better for them and that is what will help build the next car after car if it works at all for them. It may take 5000 people in their eyes to make it worth their advertising dollarsto go far enough.

We need to talk it over a bunch more before we get it right so we can do it many times over.

Lastly if you can't afford to lose your money , don't play.This is supposed to be about fun building the ultimate PT car from our sponsors parts by the place that is supposed to know how to do it best. It is the ultimate reflection on who we are as a group. lets not blow it.


Jim Nilsen

[4OfaKind]

Actually im looking at it from a totaly different perspective. I'd rather be in the raffle with the fewest number of possible competitors. If the tickets in a 1000 dollar raffle are 100 bucks, I have a in 10 chance of winning if I bought just 1 ticket. Assuming others dont spend more (and they might,) there are only 9 more players in the game with me. Now break that same raffle into 50 dollar tickets and now there's 19 people (assuming they all bought one), or any other broad combo now because people will start buying multiple tickets.

My point is, that by raising the price of the tickets you are decreasing the number of competitors in the raffle. cheaper tickets=more people playing=worse odds for me.

Ok Tony, I see your point. So now more questions arise.

What is the purpose of the raffle? Promote PT, make a profit, or just give a car away?

Like I said odds don't matter to the raffle just the ones buying the tickets. The purpose will dictate the odds. If you wish to make money you will sell more tickets than necessary = lower odds. If you wish to promote PT you will sell cheaper tickets = lower odds. If you just want to have a raffle for the sake of having a raffle you will sell higher priced tickets = better odds. The odds will take care of themselves, when will this thing start?

[Frank69]

Can I throw a word of caution out from the legal side of the house? A raffle, by legal definition is the same thing as a lottery, which is gambling. There is a formula that is used to determine if the raffle/lottery/contest is gambling, and therefore per se illegal. It is:

Prize + Chance + Consideration = Gambling

The prize is the car, the chance is the drawing and the consideration is the cost of the ticket.

In most states the only legal lottery is the state lottery (such as in CA or the multi-state Powerball). Some states have an exception for charities to hold raffles/lotteries. Generally, the charity must be a bona fide non-profit organization, be registered with the state, and is limited to the number of such raffles it may hold each year.

In order to make the raffle legal (if it is not for charitable purposes, and registered as such), you must take out one of the components, either prize, chance or consideration. Most commercial raffles/contests that you see in magazines take out the consideration aspect, which is the easiest. They do this by offering tickets for free (no consideration). Most of the time they put this in the disclaimer, and someone can send them a self-addressed, stamped envelope and receive 1 ticket for free. A person can do this as many times as they want, however.

I've gone on too long, shoot me an e-mail or a pm if you want to know further (and why I know this crap!)

Frank