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360 cs competition

Discussion in 'United Kingdom' started by 328Matt, Feb 29, 2004.

  1. 328Matt

    328Matt Karting

    Dec 3, 2003
    222
    Lymm,Cheshire
    Full Name:
    Matt
    If anyone is interested there is a new 360cs to be won at gatwick airport.Tickets are £80 each and the car looks fantastic(tdf blue/magnolia).I think there is around 2000 tickets left.See www.bestofthebest.co.uk.I could not resist a couple of punts!
     
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  3. vince308

    vince308 Formula 3

    May 23, 2003
    1,303
    belgium
    Full Name:
    vincent
    URL is not working.

    greetings, vincent
     
  4. tonyh

    tonyh F1 World Champ
    Lifetime Rossa Owner

    Dec 23, 2002
    14,372
    S W London
    Full Name:
    Tony H

    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
     
  5. 360CS

    360CS F1 Rookie

    Nov 1, 2003
    2,641
    Kent
    Full Name:
    Joe J

    tony /wazza/

    Perhaps i could do this with the Spider to raise a little extra capital....mmmmmmmm...But could I live with myself..
     
  6. ric355

    ric355 Guest

    Dec 21, 2003
    1,375
    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.
     
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  8. 360CS

    360CS F1 Rookie

    Nov 1, 2003
    2,641
    Kent
    Full Name:
    Joe J
    The chances of winning this ....???? I say Stick it!!!!
     
  9. elms

    elms Formula Junior

    Feb 24, 2004
    358
    UK
    Full Name:
    DCS
    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.
     
  10. 360CS

    360CS F1 Rookie

    Nov 1, 2003
    2,641
    Kent
    Full Name:
    Joe J

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

    rico Formula Junior

    Nov 2, 2003
    578
    Bournemouth
    Full Name:
    Andrew
    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.
     
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  13. wazza

    wazza Formula Junior

    Oct 9, 2003
    614
    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
     
  14. elms

    elms Formula Junior

    Feb 24, 2004
    358
    UK
    Full Name:
    DCS
    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.
     
  15. ric355

    ric355 Guest

    Dec 21, 2003
    1,375
    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.
     

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