360 cs competition

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greetings, vincent

 

Only trouble with these tickets is that you don't actually win from being pulled out of the hat.If tckt is chosen you THEN have to enter a spot the ball comp and the winner of that gets the car.It's a very clever way of raising more than double the price of the new car.
T

 

tony /wazza/

Perhaps i could do this with the Spider to raise a little extra capital....mmmmmmmm...But could I live with myself..

 

According to their web site, you enter the spot the ball competition when you buy the ticket. Then once all tickets are sold, an FA ref picks the point where he thinks the ball is, and the closest ticket wins. It works this way because of UK gambling laws.

As you say though, it is indeed a nice money spinner for them. The first thing I did when I looked at the site was work out how much their profit was!

One thing of note is that the winner is only declared after all tickets are sold. I wonder how many competitions they've run did not sell out. They reckon 6-12 weeks to sell them all, but they don't say if they sell them all every time.

 

The chances of winning this ....???? I say Stick it!!!!

 

I was looking to start a company doing a very similar thing a while back, but the U.K gambling laws make it very difficult and costly to set up. But if you do the maths the potential profit is excellent.

 

whats the prob Elms??? Is it that it cannot be classified as a Raffle Prize or Something along those lines...

 

It is true that they make a tidy sum if you simply take their earnings and take away the price of the car...

but they still have to rent the selling space at the airports which costs loads apparantly.

 

I think most of there type of things are a damn con.
(i'm not saying THIS one is) but with most of them you need to read the small print very carefully.
It's never the great giveaway they say it is.

I wonder what the real odds are ?

They would have to sell more than 200,000 tickets just to break even.

I bet the odds are as bad as the Lotto, a million to one.

So don't get your matching driving gloves just yet !!!!

Wazza

 

I can't remember all the legalities of it,but it does not fall within the Lotteries and Amusments Acts if you intend to run it as a straightforward raffle which is what I intended. But by making it a spot the ball competition as the current competitions are it brings it within the definition of a game of skill and therefore will make it legal and feasible to do. But unfortantley I was very busy at the time building my current company and couldn't afford to divert my attention into something else. It would of been fun too, as I was going to be giving away a F40 or something equally different.

 

The competitions they are running seem to vary a little in terms of ticket cost and number of tickets available. For the CS comp, the tickets are £80 each and there are 3,400 of them for sale.

That gives a gross figure of £272,000. Less the car cost that's going to be plenty more than a £100k margin, from which costs such as floorspace, as previously mentioned, and staff need to be taken out.

Odds wise, as I understand it, you have a 'n in 3,400' chance of winning, where n is the number of tickets you buy. These odds are much better than the national lottery, but you're paying £80 for the privilege.

My initial thoughts are that the spot-the-ball part won't make any difference to the odds because it is just a case of who is closest (rather than having to be exactly on the spot the ref picks). This kinda assumes it is fairly obvious where the approximate location of the ball is in the picture.

It doesn't say what happens if two or more people are equally as close, but I guess they'll share the prize.