raffles, variants of

Clusterflock, one of my favorite daily reads, is raffling off…:

Clusterflock, one of my favorite daily reads, is raffling off an iPhone. Tickets are $20, which gives you an approx. 1-in-25 chance of winning an iPhone. I like those odds. (link)

is that how that works? for every 25 entrants, they go buy another prize?

I took a look and yes, that’s how they’re doing it. Hmm, I have wondered why the state lotteries don’t do the same thing: cap jackpots at $1 million and just make more winners. I’d play if that were the deal.

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