I have seen a raffle i want to enter for a house. Tickets are £10, house is "worth" £3.6M. How many tickets would they have to sell to cover the value of the house? Words please if poss
maybe. Sorry, numbers sometimes get me confused, so by in words i meant not in numbers, not explain your working out please :)
They'll NEVER sell that many tickets, but they say if the £3.6m isnt reached, the prize will be the sum of the entries
bednobs, there is a raffle I've entered at the moment for a house . Three Hundred Thousand tickets issued for a house that was on the market last year for one hundred and eighty thousand. They have so far sold Two Hundred and Seventy THOUSAND tickets and the raffle doesn't end until November 1st.
Sharon its not a con. Would you get your £1 back if someone else won the prize pot ? of course you wouldn't. If the issued amount of tickets are not sold the money in the pot is drawn for and someone wins it. If all the tickets are sold but the owner of the raffled prize changes their minds, then the money in the prize pot is drawn for -its a win win. People have to go through a Company to do this, its not done by individuals. FFIW I would have a £1 punt on a £200,000 house -it costs £2.50 for a lottery ticket and the odds of winning that are far worse.
I'm still sliding the balls on my abacus bit one of them has been chewed so give me time to check this.
(Socks are off so now have twenty digits to mark with a ball point pen - could have some answer soon.)