Perceived "free" competitions |
| You've seen these in magazines, on television, online and in stores. These competitions often start with the words "Your chance to win". They require you to phone in or text which often costs in excess £1.50 per call or SMS and ask that you answer a basic question. These competitions can have way more than 500,000 entries. E.g. For a car competition, this may equate to well over £500,000 worth of entries for a car valued at £15,000 or less. Not free after all. |
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Spotit competition entries are
public and transparent. |
|
Paid entry competitions |
| These work by offering expensive prizes that attract as many entries as possible. The average revenue per competition can be from 300% to over 600% of the prize value. So if the prize is worth £100,000, the combined collected entry fees can average more than £500,000 per competition. That's why it's not in their interest to limit entries or make entry figures public. |
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Spotit limits the number of entries
to its competitions. |
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Other Important Facts |
Many competitions are networked. Entries from newspapers, magazines, mail shots and websites are pooled together leading to millions of entries per competition. The number of entries is never displayed, even in the small print. If you knew this beforehand - would you still enter it?
Read the small print! The prize advertised is probably not the prize you will receive.
The "closing date" on some competitions and especially free prize draws, can be 9 to 16 months from when you enter. This means millions of £ to be gained in profit before only thousands of £ are actually paid out to a winner, if at all. |
