But what are the odds?

DebCam

I listen to Absolute radio, which is part of the Bauer Radio network, daily. On an almost daily basis, Absolute runs text-in competitions where on occasion, it's possible to win up to £50k. 
Each entry costs £2. I imagine that Bauer receives more than enough entries to cover the prize money, but nowhere on its website or in its Ts&Cs does it say how many entries it receives - average or otherwise - or what the odds of winning are. 
Any ideas anyone?
Deborah