Ultimate free cash prize draws want to give you £1000000 in cash! ~ Prize draws and competitions

Wednesday, 7 May 2008

Ultimate free cash prize draws want to give you £1000000 in cash!

How to Win a £1,000,000 cash for free

A website in the UK called Loopy Lotto has launched an outrageous lottery for free where the potential winner can win £1000000 cash as the grand prize. Well if the lottery with this huge cash prize is for free, then their seems to be no draw backs... but the question is: is the cash prize and lotto entry really for free or does is cost something to enter? and what is the catch?

What does the free cash lottery actually cost?
Lets take a deeper look and we can see that the entry process to the lottery requires the entry of some personal information, your name and email... If you look at the £1000000 cash prize lotteries terms and conditions you will discover the rules and regulations of content accuracy that require your personal information be accurate and up to date. In the same terms and conditions you pretty much give up to Loopy Lotto and their partners all of your privacy. They no own you email address and can do with it what they wish.

How much cash does the lotteries bring in?
The value of a qualified email address obtained from the lottery entries can reach quite a lot. A qualified email can be sold anywhere between £1 to £5 a pop. That is a lot of serious cash. But don't think that the lottery company giving out these great cash prizes to win for free is actually going to fuel a prize pool...

What are the chances of winning free cash?
Every registered user to the free lottery to win the grand prize of £1000000 has only one entry per day. You cannot enter the lottery more than once. The lottery emulates the UK's National Lottery. Every day a new number is generated, and if someone actually managed to find the number they win. So what are the chances of winning the cash prize? The odds of winning the lottery are 1 : 14,000,000. that's right the chances of a player to win are 1:14,000,000. Only here their are no interim cash prizes. Its all or nothing.

How many deleted entries every day for the Lottery?
Every day after the draw all the previous entries are deleted and you need to re-enter the cash prize lottery the next day. If you only have 1000 entries per day, Loopy get 1000 email addresses permanently, the players only get one entry. In the end those emails can be sold for £1,000 to £5,000 every day with the chances of having to pay out the prize being virtually none.

What happens if a player gets the right lottery number?
They wont, you always have the risk that a business like this lottery for free cash thing will just look at all the entered numbers and will randomly pull a lottery number that "oh dear" no one has actually drawn.
Some large businesses and website that do operate legitimate Lottery and free cash giveaways are properly audited. When they do get a winner they operate an insurance contract. The cash that is paid out to the winner is actually insurance money from the insurance company that pays out in the unlikely event that their should be a winner...

so think about it... is it really worth giving your personal info away?