Raffle odds, part deux

[Oak]

Yes, the question was quite poorly written. As winmag pointed out, it’s a question of behavior.

I have always been a fan of low-priced tickets that give more people the opportunity to play. That is, until it’s time to process ticket orders, haha. Winmag also has a valid point that when there is a low barrier to entry you can end up with a winner that didn’t fully understand the implications of winning when they entered. But man I really root for the underdogs to win my raffles!

I have nothing like this on the horizon; it’s just a question I’ve pondered.

Is this going to segue into another thread about RMBS raffles?

There will indeed be a new thread next week - $25 for everything.

 

[Sytes]

I understand now. Thanks dsnow and oak. The challenge of reading too literally into a typed post vs chatting over a fire in person.

I should have read all the posts as @winmag already touched on this. More for the behavior vs actual, better odds.

Back to your intent, the more people involved, the merrier for conservation is my opinion.

 

[dgc1963]

I do buy raffle tickets due to not having a way to aquire enough points to ever get a sheep tag at my age in most states, and its to a great cause
and donate abt 200 to 300 a yr but I think many wouldnt donate that amount ,and the more involved all the better

 

[Trial153]

Personally I get turned off when I see raffles that are set up go over a three to one ratio of retail cost to total ticket sales.
I totally get the idea is to make money however a balance needs to be found between the make every dollar we can right now verses offering the perception of value to the those who donate. Especially considering that the majority of donations are coming from a limited pool of members and like minded individuals.

 

[Steve O]

$100 is usually my limit.

 

[Bullshot]

Underdogs are great but I agree that there should be at least some perception of the luxury/difficulty factor that comes with the territory. So $1 sheep raffles might get some naive unprepared hunter killed, but $1000 raffles would probably lead to the same wealthy person winning multiple raffles over the course of a few years.

For that reason, I think $50-$100 sheep raffles are very appropriate allowing folks of rather normal means to play but only if they are of semi-serious interest and knowledgeable about what a sheep tag is. Its impossible for you to place that condition up front in the terms but I’d bet we pretty well sort ourselves. Above 25 bucks, I think for most, you have to want that hunt not just any hunt.

 

[fulldraw]

I do buy raffle tickets if it is for a good cause and I like to dream ! I have never won a hunt or anything big but I have won some pretty nice prizes. I know after some adult beverages at The Sheep Show I have probably gone over board on ticket purchases but what the hell it goes for a great cause.

 

[Cheesehead]

Hopefully it is clear to all now that this is simply behavioral, specifically loss aversion (ie, humans feel more pain losing $25 than they feel happiness of winning $25).

The odds are the same in all scenarios—if you had $75k, you could buy the hunt.

Given the broader context, @Oak, and that broader vs deeper membership involvement is generally a better thing, lower price point is better. And from a practical perspective, we could all skip eating out to have an extra ticket if its $10 or $25 but a $250 bath hurts most people

That said, I would look up Epic Outdoors and copy what those sumbitch salesmen do because they’re good at it. Get a free ticket if you join the club, otherwise each ticket is $25 with volume discounts, with silly prizes thrown in at different levels to encourage people to dig deeper.

 

[KU_Geo]

I typically like the 1:500 or 1:600 type odds and $100 ticket cost. I at least feel like I have a chance in this those auction

 

[mtmiller]

I am a fan of the $25 tickets. Opportunities for more people and the guy who wants better odds can put $500 on the card.

 

[Trial153]

Another comment. This is coming to mind only because I just purchased tickets for a raffle that had a sliding scale. For example, 1 for 20, 6 for 100
15 for 200, 25 for 300, 35 for 400. 50 for 500, and 125 for 1000.....

I get the idea however, once again we skew things towards those among us with greater disposable income. The poor sap they could afford a $20 ticket for one chance is paying $20 for that chance . The guy that could drop $1000 as easy as buying a burger at five guys is is paying 8 dollars for that same chance.

 

[geetar]

I am a fan of the $25 tickets. Opportunities for more people and the guy who wants better odds can put $500 on the card.

Gonna agree with @mtmiller on this one. Keep the price point low so everyone who can afford $25 has some chance and if you want higher odds buy more.