A chance to win Model x 60D!! would you enter the drawing?

[Khanhvngo]

Hi Everyone, here is the question please be honest with your answer!

Rules to entry!

1. You have a chance to enter a drawing to win a 2016 Model x 60D with 5k miles on it.
2. Each ticket cost you $250 (limit to 5 ticket person)
3. Only 700 ticket are sold!
4. If all 700 ticket are not sold, each ticket holder will get a full refund.
5. 60 days from now a live drawing will be held. TBD
6. 1 winner will be chosen from a random drawing.

Would you enter the drawing, why or why not?

 

[deonb]

So I assume you already have a raffle license from your state, you're donating the Model S, and the proceeds are going for charity?

Or are you seriously trying to sell a Model S 60 for $175k and in the process violating gaming laws in all 50 states?

 

[Khanhvngo]

No donation to charity or any proceeds going to any place other then the event holder. Yes total amount would be 175k. They Point here is that someone is giving anyone and everyone a chance to own the x for only $250.

This is just a question to the forum, not actually going to happen.

Assuming no laws are broken: fully legal

would you enter with your money, why or why not?

 

[deonb]

Assuming no laws are broken: fully legal

Explain the circumstances in which you as a private individual (heck even if you were a Casino owner) can launch a country wide for-profit raffle legally?

would you enter with your money, why or why not?

I would not, since assets acquired via illegal means tend to get confiscated.

 

[Khanhvngo]

"deonb" you are reading into the legal matter way too much. Just a fun question to ask, I curious to know why someone would or would not enter the drawing.

There has been lots of contest for Tesla cars out there, one was done last year for $250, limit of 2k entry. I would have enter if I knew about it when it happen, The only different between my question and the real world is that, the proceed does not go to a charity at all.

Would you enter knowing what was lay out before you?

This was one of them.

CXC's Carbon Pricing Awareness Raffle - Climate XChange

Another Chance To Win A Tesla!

 

[deonb]

"deonb" you are reading into the legal matter way too much. Just a fun question to ask, I curious to know why someone would or would not enter the drawing.

There has been lots of contest for Tesla cars out there, one was done last year for $250, limit of 2k entry. I would have enter if I knew about it when it happen, The only different between my question and the real world is that, the proceed does not go to a charity at all.

Would you enter knowing what was lay out before you?

Ok, so just from a fun perspective... No, I would still not.

You can take $250 to any decent casino in the U.S. and get a 350-to-1 payout (enough to buy a Model X 60), for about 360-to-1 odds. (e.g. line in roulette riding to a straight).

Gambling for a 350-to-1 payout at 700-to-1 odds is idiotic.


(However nothing wrong with a charity selling 2k tickets at $250 per ticket. Depending on the charity I might enter that. But that's a very different story - the charity ends up with the money).

 

[Khanhvngo]

Ok, so just from a fun perspective... No, I would still not.

You can take $250 to any decent casino in the U.S. and get a 350-to-1 payout (enough to buy a Model X 60), for about 360-to-1 odds. (e.g. line in roulette riding to a straight).

Gambling for a 350-to-1 payout at 700-to-1 odds is idiotic.

That is the kind of answer I was looking for!

 

[DÆrik]

I was debating on chiming in. So here it is.

Knowing that the proceeds don't go to charity, I would never enter a raffle like this. Legal issues aside, I work hard for my money and wouldn't want to line a individuals wallet with over 100k more then the prize is worth. I have purchased tickets from several charities that do raffles, but a raffle to just make some individual money - no way.

I would do what @deonb suggested before that. And I only play slots, but I would risk it on roulette.

Thanks Erik

 

[nagypite]

250 x 700 = 175k for a preowned Model X 60D???

 

[NikeWings]

CA used your model to do house raffles for charities ~10 years or so ago, but like many NFP organizations the % of dollars making their way to the actual charity was limited, exposed and eventually caved the appeal of these models.

As far a method to 'win' something, I prefer stock market winnings.
So not for me.

 

[Khanhvngo]

I find it kinda of odd that everyone only look at negative and The total amount. How come no one is looking at the positive side of this?

* Someone is going to own an X for only $250 ( I don't think if it was real, that the winner care if it's new or used)
* 250 is not a whole lot for a chance to win 86k value.

 

[Max*]

* 250 is not a whole lot for a chance to win 86k value.

Please paypal me $250. Then, I'll flip a coin 9 times on livestream video, if all 9 times are heads, I'll give you $86k.

Your odds are better in my scheme than they are in yours.

 

[DÆrik]

I find it kinda of odd that everyone only look at negative and The total amount. How come no one is looking at the positive side of this?

* Someone is going to own an X for only $250 ( I don't think if it was real, that the winner care if it's new or used)
* 250 is not a whole lot for a chance to win 86k value.

Personally I don't care if a ticket was $1. If the person operating the raffle was GUARANTEED 175k (in your case 700 tickets must be sold otherwise no raffle) I wouldn't even enter it.

Also, for what its worth, a used 60D X with 5k miles is not valued at 86k.... not to mention whoever wins the car will also be responsible for paying taxes on the value of the item..

Thanks Erik

 

[Khanhvngo]

So far I get that people don't like that money is being made by this method. And that the amount is high for entry. But I ask you all this question, isn't the lottery kinda the same thing?

Odds are extremely low, in the millions to one compare to 700. Although the cost is just $2.

So would everyone who answer change their mind if 20% of the proceeds go to a charity?

Keep in mind that out of 175k at least 86 goes to buying the x to begin with.

 

[DÆrik]

So far I get that people don't like that money is being made by this method. And that the amount is high for entry. But I ask you all this question, isn't the lottery kinda the same thing?

Odds are extremely low, in the millions to one compare to 700. Although the cost is just $2.

So would everyone who answer change their mind if 20% of the proceeds go to a charity?

Keep in mind that out of 175k at least 86 goes to buying the x to begin with.

To me there is no comparison. The lottery does have a % of ticket sales go towards roads, trails, parks, etc. Where as excess money from yours goes to your pockets. Also the lottery awards MILLIONS of dollars and awards multiple prizes, not just 1. I admit, I buy lotto tickets occasionally and go to casinos.

I still wouldn't change my mind because 80k would still go into your pocket, even if 20% goes to charity. I would rather just donate to charity.

Not trying to beat a dead horse... Once again, your used 60D X with 5k miles is not worth 86k right now. Perhaps that is how much is left on the loan? But not what it's worth.
*** EXAMPLE** This nicely equipped Tesla Model X, Model X 75D 5YJXCAE26GF010758 | Tesla , is a 75D with 5k miles for only 84k. A 60D is valued at ~78k probably. So there would be almost 100k made.

I guess I don't know why anyone would buy a ticket for a raffle like this. I wouldn't even buy a raffle ticket if the total tickets sales amounted to only 86k.

Thanks Erik

 

[S'toon]

In the US, the answer would be no, unless it was structured like CXC's raffle where the prize was the car + taxes.

In Canada, maybe. In Canada there are no taxes on winnings. On the other hand, it is a used vehicle.

A couple of years ago Canadian Tire gave away a used S 60, no purchase necessary. The company bought an S 60 to do evaluation and testing, then gave it away to a lucky customer when they were finished.

 

[deonb]

So far I get that people don't like that money is being made by this method. And that the amount is high for entry. But I ask you all this question, isn't the lottery kinda the same thing?

No. The lottery is a life-changing gamble. You pay the $2 for the opportunity to dream about winning it more than anything else.

This isn't lifechanging. Most people who can afford a $250 gamble can afford to buy a 86k Model X. Or at least they would be able to afford it if they don't go around making stupid $250 bets all the time...

 

[Bishop]

and whats to stop him from just taking the money and laughing all the way to the bank .... its like one of those send a dollar to these seven people scams.

 

[wdolson]

There is the factor of risk-reward. Most people aren't going to miss $2 thrown at a lottery ticket a couple of times a year, which is probably the way most people play the lottery. The people who play every drawing are usually in for hundreds if not thousands a year.

Most people will put in $100 or so on a raffle ticket if the proceeds go to some cause they feel is worthy, but there is a kind of creep factor to someone running a raffle for their own profit. Which is probably a contributing factor as to why they are illegal except by charities in most, if not all states.

Raffles of high ticket items also frequently have problems selling out all their tickets. The raffle run by Pollux in 2015 was for an organization raising awareness about CO2 and they had a very attractive raffle in which you not only got enough credit to get a decently equipped S90D, but also credit to buy and install an HPWC at your home, and they paid the income taxes. I think their tickets were only $100 and they didn't sell out. They sold enough to hold the drawing and I think they made a bit of money, but it was a close run thing they were going to raise enough to give away the car.

 

[David99]

This discussion really has nothing to do with Tesla...