What's the deal with choosing numbers comps?

sultanim

Hi all
New here, and forgive if this is old news to you, but recently started comping and am baffled by the large number of 'choose three numbers' type. If anyone has actually ever won one of these I would like to know! It seems to me the equivalent of me saying to random strangers 'if you can guess the three numbers I have in my head now I will give you £1 million.' - and guess what, the numbers will NEVER match. Does anyone bother with this type of comp? I don't see the point.

mjm3346

Nothing to say they are not genuine but there is very little chance of winning and if no one matches by the end date no prize is won.

A previous post

https://forums.moneysavingexpert.com/discussion/5607574

and couple of odds from another

a Mini and the odds were over 45 million to one and a £1,000 cash prize had odds of over 3.2 million to one so the chances of winning are minute

Unlike prize draw competitions where a prize will be won there is very little chance of (large) prizes being won on the match 3 number type which enables them to offer a much higher number/value of prizes simple because most of them will not be won (they may simply take out insurance to cover the major prizes so they work to a fixed budget regardless of the number of winners anyway)

This is one that covers prize costs there are others

http://www.worldwidespecialrisks.co.uk/prize-competition-insurance/