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Thread: Homecoming 50/50 raffle

  1. #1
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    Default Homecoming 50/50 raffle

    Teammakers just announced pot starting at 50,000 for the raffle Oct 1st

    507 In a row

  2. #2
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    Default Re: Homecoming 50/50 raffle

    How? Where is that money coming from already?

  3. #3
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    Default Re: Homecoming 50/50 raffle

    Quote Originally Posted by EC8CH View Post
    How? Where is that money coming from already?
    EC8CH quickly checks banks statements realizing a fundraiser called him when his BAC was 0.2.....

  4. #4
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    Default Re: Homecoming 50/50 raffle

    Quote Originally Posted by THEsocalledfan View Post
    EC8CH quickly checks banks statements realizing a fundraiser called him when his BAC was 0.2.....
    Bwahaha! Wouldn't that be some shit.

  5. #5
    Join Date
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    Default Re: Homecoming 50/50 raffle

    Wow... starting at 50k???? Guessing it'll be similar to the USD game last year when the pot went unclaimed from the game before and sales more than doubled I think. 100k+ to the winner on 10/1???

  6. #6
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    Default Re: Homecoming 50/50 raffle

    https://www.ndlegis.gov/information/...-01.3-05.1.pdf
    99-01.3-05.1-03. Prize restrictions and requirements.
    1. Prizes must only be cash and must be fifty percent or more of gross proceeds for each single
    event raffle. However, a single cash prize may not exceed twenty-five thousand dollars and
    the total cash prizes may not exceed twenty-five thousand dollars during a day. Prize payouts
    must be based on ticket sales and not on cash retained by sellers.
    The maximum cash prize
    limits of this section do not apply to a public-spirited organization that supports amateur
    collegiate athletics. The public-spirited organization's primary purpose must include support of
    collegiate athletics.
    I'm pretty confident NDSU will sell at least $50k worth of tickets so they'll cover the pot, but it's an interesting legal question if they don't. As I read the law they wouldn't be allowed to award a prize bigger than sales, and the AG office might not be happy at misrepresenting a gambling payout.

  7. #7
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    Default Re: Homecoming 50/50 raffle

    Did the pot get claimed at the last game?

  8. #8
    abc123 is offline Senior Member Gets their mail at the West Parking Lot
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    Default Re: Homecoming 50/50 raffle

    Quote Originally Posted by taper View Post
    https://www.ndlegis.gov/information/...-01.3-05.1.pdf

    I'm pretty confident NDSU will sell at least $50k worth of tickets so they'll cover the pot, but it's an interesting legal question if they don't. As I read the law they wouldn't be allowed to award a prize bigger than sales, and the AG office might not be happy at misrepresenting a gambling payout.
    In similar situations, I've seen them line up a sponsor that would cover any shortfall in the pot if ticket sales didn't get to that point. But by announcing it early and hyping it up, that usually doesn't end up being an issue.

    It would be a different situation if they put $50,000 in the pot and started counting up from there.

  9. #9
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    Default Re: Homecoming 50/50 raffle

    A source tells me it is Team Makerís money, ticket sales will add over & above the $50,000 base amount. Interesting investment in advertising & publicity & fundraising!

    So not a sponsor or carryover money

  10. #10
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    Default Re: Homecoming 50/50 raffle

    Quote Originally Posted by bruinbison View Post
    A source tells me it is Team Maker’s money, ticket sales will add over & above the $50,000 base amount. Interesting investment in advertising & publicity & fundraising!

    So not a sponsor or carryover money
    So, in essence, they are putting in $25k at risk. So, in essence, they need to sell $50k more than normal (over and above normal sales) to break even from where they would have been for profit. I'm curious if that math would work; count me as skeptical.

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