PBS Mini Cooper (car) Raffle

KERA here in Dallas is raffling off a hard top Mini Cooper. Tickets are $100 each and only 1,500 are being sold.

What are your thoughts on this?

I participated several years ago when they had a Cadillac XLR as the prize, which I didn't win. At the moment I'm not in a situation to enter this raffle.

Without knowing the additional details, MSRP, vehicle wholesale, and the integrity of those conducting this raffle, I will withhold any opinion, other than to say that offhand, it appears there is an overlay. $15,000 in raffle revenue for a vehicle that may list of $20something seems like +EV to me.

So, what is the gimmick?

150,000 not 15,000...not such a good deal eh

Even if your numbers had been right:

I am guessing there are two. 1. You can't buy all the outstanding tickets because some have already been sold and 2. You pay federal and your state's income tax on the price of the car.

The site quotes a mandatory federal withholding of $6,271 and a MSRP on the car of $22,495. So your actual outlay would be $15k + $6,271 = $21,271. So the gap is only $1,224. I suspect if you walked into a MINI dealership and offered them $21,271 for an identical car they would take it. So there is not a positive +EV unless your a horrible negotiator.

Oooops, my bad on the math. Unfortunately, that seems to be happening to me too much lately, especially when in the casino or poker room.

Personally, I do not expect to get so incredibly lucky that I win a big prize by actually purchasing an 'expensive' ticket.

I hesitate to spend $2.00 whole dollars on a humongous Powerball lottery ticket when the prize pool is hugh. I will do that on occasion, maybe a couple times per year, if that often. Than not look at the ticket or winning numbers for a week or more, hoping to hear a news story that the, or a winning ticket was purchased in my area.

Prefer to 'gamble' my money on shorter odds. (ie; 640K -1 for a RF @ VP) LOL