“A chance to win” can mean that chance is very little, almost impossible for you to accomplish, but that ‘chance’ is enough to make that phrase legally accurate. Think gacha games.
They could create a system that picks one person out of the millions that do it, and then still make a random number generator pick a number that they have to choose out of 1000, and it would still mean that “You have a chance” to win. Sure, a chance, like, but at what odds, and that’s only if they were actually checked if it was true.
As I understand it these are basically an insurance policy. The promoter takes out a policy detailing the odds of a payout being required, and pay a premium based on the insurer’s risk assessment.
And of course the insurer wants to minimise the odds of paying out, and the promoter wants to minimise their premium - so the top prize is usually, as above, near-unwinnable.
I don’t get it
“A chance to win” can mean that chance is very little, almost impossible for you to accomplish, but that ‘chance’ is enough to make that phrase legally accurate. Think gacha games.
They could create a system that picks one person out of the millions that do it, and then still make a random number generator pick a number that they have to choose out of 1000, and it would still mean that “You have a chance” to win. Sure, a chance, like, but at what odds, and that’s only if they were actually checked if it was true.
We all know there was never a chance.
As I understand it these are basically an insurance policy. The promoter takes out a policy detailing the odds of a payout being required, and pay a premium based on the insurer’s risk assessment.
And of course the insurer wants to minimise the odds of paying out, and the promoter wants to minimise their premium - so the top prize is usually, as above, near-unwinnable.
At most one person gets it… :)