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999magnum

Instagram Raffles?

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1 hour ago, BackyardBullion said:

It is gambling - you might as well go to a Casino!

The thing is I understand there's a risk, but for $3 to $5 US per spot of 10 spots usually is really not that risky I think. The odds are pretty good and if the guy takes off with my 5 bucks then I'll probably say something like "fudge flippin' flacker flipper" and move on. The main reason I'm asking really is because I see the same names on those raffles quite often, just like on youtub giveaways. 

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I've done quite a few raffles lately and won some great coins. I've picked up some Pandas, Libertads, and other coins that I might not otherwise seek out, but will risk a small paypal transfer to win. Of course, I'm in the US and most of the folks I raffle with only ship to US, so I can't speak to those running raffles in your area. I think if anyone were fixing these or running a scam, it would be pretty obvious right away. And what's the motivation? Most of those running raffles are clearing a really nice premium on the items they raffle. Raffle off an American Silver Eagle for 10 spots at $2.75 a spot it $27.50 for an ASE. Why would you want to kill off that kind of flipping by running a low-dollar scam?

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