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How to Win Rollover Raffles

By Edited Feb 2, 2014 0 0

How to Win a Rollover Raffle.

A rollover raffle is a raffle where you must do something after you have the right ticket in order to win the money. If you fail to win, the raffle will rolll over to the next day or next week. Every week more and more people get interested because of the increasing prize fund. You get better value for your bet the longer you wait because the return increases much faster than the competition. You can neigh-on gaurantee winning one (or many) of these raffles.

For exmaple, it is common to have a "key in a box" type game when your raffle ticket gets pulled out. This is where you have to choose one of say 10 different keys to open the chest and withdraw the accumulated prize fund. If you choose the wrong key the key is discarded and next time the chance of choosing the correct key is reduced from 1/10 to 1/9 and so on. If this same process carries on rolling over for all 10 weeks then you are left with a huge prize fund and only one key to open the box. This is when you start playing.

To ensure you win the raffle you will have to buy most of the tickets available. If your funds are limited and you cant buy more than half of the tickets then you are better of not trying this unless you can team up with some friends and share the winnings. Mathematically, as long as your return on investment is greater than your odds you should play every time the occasion presents itself, as you will always win over time.

Here is an example of a hypothetical rollover raffle where interest in the raffle increases by 10% as the prize fund increases (each ticket costs £1):

#1: Tickets: 100 Prize: £100 Chance of choosing correct key: 1/10
#2: Tickets: 110 Prize: £210 Chance of choosing correct key: 1/9
#3: Tickets: 121 Prize: £331 Chance of choosing correct key: 1/8
#4: Tickets: 133 Prize: £464 Chance of choosing correct key: 1/7
#5: Tickets: 146 Prize: £610 Chance of choosing correct key: 1/6
#6: Tickets: 161 Prize: £771 Chance of choosing correct key: 1/5
#7: Tickets: 177 Prize: £848 Chance of choosing correct key: 1/4
#8: Tickets: 195 Prize: £1043 Chance of choosing correct key: 1/3
#9: Tickets: 215 Prize: £1258 Chance of choosing correct key: 1/2
#10: Tickets: 236 Prize: £1494 Chance of choosing correct key: Certain

So, on day 10 the prize fund is a grand total of £1494, and there have been 236 tickets bought. If you spend £500 on tickets you are giving yourself rough odds of 3/2 for a payoff of 4/1. That's definitely good value!

The good thing about this system is that you dont have to get involved until the very last round, whilst everyone else puts their (your) money into the prize fund, only to lose it when they cant get the right key. This is especially effective when it is a raffle being run by a local pub or bar where the landlord expects most of the winnings to be spent in the pub anyway. If this sort of raffle isnt available to you, you could suggest that your local watering hole runs such a raffle, which would definitely be beneficial to them, and ulitmately to you too!



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