Guitar Gear Giveaway

[stevel]

Yeah, they do have a maximum number of tickets each customer can buy, usually around 10% of the total. But sometimes there are 10-12 guitars drawn on the same day, and it's usually twice a week for most of these operators, so that's still a lot of tickets it's possible to buy. Got to say though, it's still far better odds than winning the lottery, in that a far higher percentage of the ticket cost goes into the prize.

[bass_dinger]

I entered a Rubbish Car giveaway on Facebook, for a Morris Marina.

 

Luckily, I didn't win it...

[BabyBlueSound]

I tried this, didn't win anything on my first attempt. MUST BE FAKE! 🙃

[MoonBassAlpha]

A former colleague of mine won at least 3 guitars including a very decent Les Paul in the couple of years I worked with him, and had won some prior to that. I  suspect he bought a fair few tickets...

[TimR]

So if you won a guitar by spending 10% of what it was worth. And then sold it for 50% of list price, you have a tidy profit plus easily another 10% to spend on more tickets. The odds of winning are very high for a pretty good return. 

 

That could easily explain why the same names are coming up. 

[tauzero]

10 minutes ago, TimR said:

So if you won a guitar by spending 10% of what it was worth. And then sold it for 50% of list price, you have a tidy profit plus easily another 10% to spend on more tickets. The odds of winning are very high for a pretty good return. 

 

That could easily explain why the same names are coming up. 

 

To win it by spending 10% of what it was worth, you'd be buying 5% of the tickets (as the ticket total is about twice the market price) so you have a 1 in 20 chance of winning. Enter 20 draws and you'd have roughly a 2/3 chance of winning one or more, and if all the draws were pretty much the same, you'd have spent double what one item was worth.

[BabyBlueSound]

28 minutes ago, tauzero said:

 

To win it by spending 10% of what it was worth, you'd be buying 5% of the tickets (as the ticket total is about twice the market price) so you have a 1 in 20 chance of winning. Enter 20 draws and you'd have roughly a 2/3 chance of winning one or more, and if all the draws were pretty much the same, you'd have spent double what one item was worth.

 

There are limits on how many tickets you can buy per person for every raffle

 

Edit: I see this is set to 10% of the total indeed!

Edited March 31 by BabyBlueSound

[Stub Mandrel]

19 hours ago, BabyBlueSound said:

 

There are limits on how many tickets you can buy per person for every raffle

 

Edit: I see this is set to 10% of the total indeed!

 

If people find out about the undersubscribed items and  they buy 10% of tickets for relatively unpopular items they get a better win ratio and the seller reduces their losses.