The odds to winning the United Kingdom jackpot by buying a £2 Lotto ticket
The chances of being a National Lotto winner by successfully matching all 6 numbers are 1 in 45 million
However, the chances of winning the National Lottery jackpot were much higher before the pool of numbers increased from 49 to 59. Therefore, between its launch date (back in November 1994) until October 2015, the odds were 1 in 14 million
The odds to winning the transnational Lottery jackpot by buying a Euro Millions £2.50 ticket
The chances of being a Euro Millions winner by successfully matching all 7 numbers are 1 in 140 million
However, the chances of winning the Euro jackpot were much higher before the pool of lucky stars increased from 11 to 12. Therefore, between its launch date (back in February 2004) until September 2016, the odds were 1 in 117 million
The odds to winning a Property Raffle or House Competition by typically buying a £2 ticket
If a Property Raffle or House Competition (also known as a prize draw) is looking to raise £800,000 via the sale of 400,000 tickets, priced at £2 each; the chances of winning are 1 in 400,000
‘Ensure you research a raffle or competition before deciding to enter !!
‘Every raffle and competition is different, so please read their Terms and Conditions document – and ONLY enter if you are happy to do so.’She And The Cat’s Mother founders, (mother and daughter) Gwen Hullah and Ida Barker
What happens if not all the tickets are sold to win the property?
Not all is lost, most raffles and competitions will instead award the ticket winner a lump cash prize instead, this money is awarded to the winner from the monies generated out of existing tickets sales
Example of when a property raffle/competition failed to sell enough tickets, but the ticket winner still benefited
When Raffle House did not sell their minimum requirement of tickets for a draw in 2019, as quoted in the Daily Mail newspaper:
‘Our first competition closed with a cash prize of over £170,000.
‘We’re over the moon at being able to award such a huge sum of money and to have raised nearly £14,000 for charities.’Raffle House chief executive, Benno Spencer
CAUTION: I’ve heard some property raffles have been closed down by the Gambling Commission, therefore is it safe to enter?
Many raffles are closed down because they did not obtain a licence to operate. Raffles can only be organised by charities; non-profit organisations, NOT by individuals
How do some avoid the need for a licence?
Individuals, property-owners and companies can operate FOR profit if they organise a competition element. This is why in many cases, an entrant has to correctly answer a knowledge, judgement or skill question, in order to legally be in with a chance to WIN a property
Be in the know ==>> here’s a useful link to a page on this Raffle Property website, titled: What is the difference between a Raffle Property and a House Competition?