News & Observer | newsobserver.com | Raffle may not pay for itself

Published: Dec 20, 2007 12:30 AM
Modified: Dec 20, 2007 05:56 AM

Raffle may not pay for itself

 

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MERRY MILLIONAIRE RAFFLE

HOW IT WORKS: This is more like a traditional raffle. Think of your church fundraiser. The lottery has 500,000 tickets to sell for $20 each. Tickets will be on sale until they are gone or until 2 a.m. Dec. 27. Later that day, a computer will randomly pick winning numbers.

PRIZES: 2,517 numbers will win something. Four winners will receive $1 million. Five will win $100,000. The bulk of the winners will receive $100. After taxes, the $1 million prizes are worth $680,000.

CHANCES TO WIN: The raffle offers some of the best odds of winning big prizes you'll ever get from the state lottery. That said, if all tickets are sold, the chances of winning a $1 million prize are one in 125,000. Odds of winning $100 are 1 in 250. Those odds improve if not all of the raffle tickets are sold. By comparison, according to the National Weather Service, the odds of being struck by lightning in your lifetime (assuming an 80-year life) are 1 in 5,000.

MONEY IT RAISES: The lottery raises money for education programs. To break even, the raffle will need to sell at least 290,000 tickets. If all tickets are sold, it will raise $3.5 million for education.

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RALEIGH - The lottery's misfortune could be a boon for players hoping for $1 million.

With just one week left before the holiday raffle drawing, the lottery has sold only about half its tickets. The fewer tickets sold, the better the odds of winning for those who plunked down $20 for a raffle number.

Lottery officials were pleased by strong early sales for the raffle, in which players buy from a limited pool of tickets for cash prizes. The sales, combined with trends in other games, were a sign that things were turning around for the lottery. It has struggled to keep ticket sales up to projections.

But with one week before the Dec. 27 drawing, raffle sales haven't even reached the break-even point of about 290,000 tickets. Raffles tend to sell a lot of tickets when they first go on sale and then right before the drawing, lottery director Tom Shaheen said. It's true, he said, that the raffle is lagging behind the state's first raffle, which was held in summer. That game saw a huge spike in sales as the July drawing neared. But in the summer, about 100,000 tickets remained in the last week, not the more than 200,000 still available for the holiday raffle.

"I'm not real concerned at this point," Shaheen said. "We're running a little behind the first raffle. It's not uncommon."

Odell Graham owns the Ready Mart, a convenience store in Asheboro. In the last raffle, his store sold the most tickets in Randolph County, he said. About 30 percent of those tickets were purchased in the last six days of the sale.

"I think, push comes to shove, toward the end of next week, you'll see sales pick up," Graham said.

Other stores aren't as hopeful. Mohammed Abdou works at the Buy Quick on Worth Street in Durham. He said that few of the store's customers spend $20 on a raffle ticket. They are more inclined to go for a cheaper scratch-off ticket.

"There's a lot of people who can't really afford it," Abdou said.

But Shaheen said sales have already started to pick up. More tickets have been sold per day this week than just a week ago, he said. Officials expect interest in the raffle to get more intense. The first raffle sold out a few days before the drawing. After that, people tried to buy tickets nearly 20,000 times, Shaheen said.

Regardless of how many tickets are sold, Shaheen said the drawing will take place Dec. 27.

ben.niolet@newsobserver.com or (919) 829-4521
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