mark
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depends on who's running it. if on the level, they will be selling a total of 750k worth of tickets for a 500k price. That's actually a good risk as lotteries go.
If it's a charity or government run, I would give it a shot. But if it's a for profit organization, I would pass. |
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I_Have_all_the_answers...
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It has been done on ebay already... |
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Bubba
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Are you selling or buying the house?
Selling yes - if you sold all the tickets you would make 750,000
Buying -Probably not your odds are very bad and i'm very unlucky :( |
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heatherlynn822
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I dunno, sounds suspicious....
Maybe if it was for a legitimate charity.
Otherwise, no. |
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Steve B
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Stop focusing on the Prize and look instead at the odds :-)
Do you enter the UK National Lottery ?
If so, lets look at those odds :-...
3 numbers = 1 in 50
4 numbers = 1 in 1,000
5 numbers = 1 in 55,000
So 1 in 15,000 is 15 times less likely than getting 4 numbers but 3 times more likely than getting 5 numbers ...
So, how many times have you got 4 numbers then ??
PS> I was part of a UK Lottery Syndicate for 5 years. They put on 10 sets per week, so 10x52x5 = 2600 tickets. We got 4 numbers TWICE ... (actually a bit less than expected) ..
I quit when I worked out it would take a bit over 1,000 years before we got 5 numbers :-) |
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gavmel259
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Well if all the tickets were sold, that would make $750000. So what happens to the other $250000.
You would have a 1 in 15000 chance. |
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joseph.feldhaus@sbcglobal.net
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Sounds good, but imagine the taxes if you win. The value of the house would put you in the 50% tax bracket, and you would have to take out a mortgage to pay the taxes. Not bad if you can afford that.
A lot of people enter these things not thinking about the down side. |
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www
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its a scam ok? |
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Micki
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Here in Wisconsin - there is a raffle like that every year. (Wisconsin State Fair)
The house that is raffled off is transported to the fairgrounds. Tickets are about $50
If you win the house, you have to pay to have to transported to YOUR land
All taxes relating to the winnings are YOUR responsibility. Sometimes a less wealthy person cannot even afford the taxes associated with the house.
It is possible - but read between the lines |
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Laissez-Faire Guy
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There is a slight discrepancy here. Since you are taking a profit, this is a form of gambling. Pretty much every state would outlaw it. So no, I wouldn't do it.
If it were a straight up raffle, with only 10,000 tickets being sold at that price, I would have to trust that the raffle is being handled in a completely honest manner. If I did, yeah, I might go for it. But then again, pretty much every state has rules against people running their own raffles. |
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stevebluesnake
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maybe yeh, sounds like a good idea |
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Stinky
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I do not think it is a scam, I assume it is a fundraiser. You need to consider the odds when gambling. You know they are only selling 150,000 tickets so your worst odds are 1 in 150,000, not too bad to win $500,000 seeming that lotteries are around 1 in 25,000,000. Depending on where you live you will have to pay taxes on the winnings so reduce your winnings by 25-30%. If you have the money and it goes to a good cause go for it, but don't spend it if you don't have $50 to lose. |
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Heisenberg
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scam |
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Curious
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Depends on what charity it's for - usually these things are fundraisers. If I liked the charity, I'd do it. |
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Sophia
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I have heard of that before but i am sure it was here in Britain.... the couple were wanting to be guaranteed a price for their house and were selling their tickets at £100 each i think... (could be wrong) anyway its a great idea but the down side is the sellers need to get a certain amount of buyers for the tickets otherwise they cant sell their house and the odds are really rather slim arent they..!! |
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Éıɹoʇɔıʌ
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no because there's a raffle going on where i live and it $100 for a $500,000 mansion and the house was donated by a constuction company and the money goes toward St. Jude hospital. this one has a better cause. |
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Ali
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no
you will never win
:) |
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address man
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No. Sounds like a scam. |
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A P 3 K S H A
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SCAM!!! |
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Acka
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scam
Houses cost £ where I live. |
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