Kiwanis Club of Walker

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  • mforsta

    Pops
    Rating - 100%
    4   0   0
    Jun 25, 2012
    494
    28
    Denham Springs
    I haven’t done this raffle but one like it. They are a lottery drawing. Your ticket number has to be drawn just like the lottery. The likelihood of winning are very small.
     

    WPW

    Member
    Rating - 0%
    0   0   0
    Oct 23, 2018
    6
    1
    Walker, LA
    I bought two tickets. I'm told the Kiwanis do good thing in the community and the odds are better than the lottery. Can't win if you don't play.
     

    JBP55

    La. CHP Instructor #409
    Premium Member
    Rating - 100%
    338   0   0
    Apr 15, 2008
    16,999
    113
    Walker
    I bought two tickets. I'm told the Kiwanis do good thing in the community and the odds are better than the lottery. Can't win if you don't play.

    What he said.
     

    RaleighReloader

    Well-Known Member
    Rating - 100%
    33   0   0
    Jan 30, 2015
    1,177
    48
    Baton Rouge, LA
    This is a classic case of the supposed odds of winning looking much better than the actual odds.

    Mathematically: there is a 0.1% chance of any one ticket taking home a prize throughout the year. The math is pretty straightforward.

    The probability of *not* winning a prize is:

    (1000 tickets - 1 ticket purchased) / 52 chances to win
    ----------------------------------------------------- = 99.9%
    (1000 tickets) / 52 chances to win

    Based on this, the odds are:

    (1 - 99%) / (99%) = 0.1%

    A 0.1% chance (in other words, one in one thousand) of increasing my $50 investment by five fold to eight fold isn't worth it, in my books.

    All the same, the Kiwanis are a fine organization and I wouldn't hesitate to support them. I just wouldn't hold my breath that I'd be taking home a new gun.

    Mike
     

    JBP55

    La. CHP Instructor #409
    Premium Member
    Rating - 100%
    338   0   0
    Apr 15, 2008
    16,999
    113
    Walker
    This is a classic case of the supposed odds of winning looking much better than the actual odds.

    Mathematically: there is a 0.1% chance of any one ticket taking home a prize throughout the year. The math is pretty straightforward.

    The probability of *not* winning a prize is:

    (1000 tickets - 1 ticket purchased) / 52 chances to win
    ----------------------------------------------------- = 99.9%
    (1000 tickets) / 52 chances to win

    Based on this, the odds are:

    (1 - 99%) / (99%) = 0.1%

    A 0.1% chance (in other words, one in one thousand) of increasing my $50 investment by five fold to eight fold isn't worth it, in my books.

    All the same, the Kiwanis are a fine organization and I wouldn't hesitate to support them. I just wouldn't hold my breath that I'd be taking home a new gun.

    Mike

    I support the Walker Kiwanis every time they have a raffle and I never hold my breath thinking I will win and anyone can do the math.
     

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