A 50/50 Ticket By Any Other Name Is Just A Raffle
Tuesday, July 31st, 2007Ever wonder why raffle tickets are sometimes referred to as fifty/fifty tickets?
I wonder about these types of things all the time.
I know, I really don’t have a real life!
Anyway… I checked wikipedia to find the answer and much to my surprise there’s nothing there except for an article about raffles and lotteries. Nothing about small games of chance or 50/50 tickets.
Not what I was hoping for… so I googled 50/50 tickets and very soon found the definition I was looking for…
“50/50 tickets are a type of raffle ticket where the prize is 50% of the value of the total ticket sales.”
Cool! The more 50/50 or raffle tickets you sell the bigger the prize value for the winner!
But the “Not so Cool” feature is: The more raffle tickets or 50/50 tickets sold, the higher the mathematical odds are stacked against you from winning that huge prize.
Oh well, guess you can’t have your cake and eat it too!
Can you?