Opinion Magpie Millions - The Collingwood Lottery

[76woodenspooners]

Love the word 'net'.

Good pickup!!

 

[Obese Arachnid]

Good pickup!!

Net means "after siphoning".

 

[76woodenspooners]

Net means "after siphoning".

Rubbish, it means "After management fees".

Oh, oops, they're the same thing

 

[Maggie5]

I really can't see this being successful. I have just checked Tattslotto for Monday and Wednesday and they seem to have a max prize of $2M, many times $1M, it doesn't seem very popular and costs less than $20 to play. Further that takes in most states.
Oh dear Collingwood, please concentrate on football.

 

[Anzacday]

I really can't see this being successful. I have just checked Tattslotto for Monday and Wednesday and they seem to have a max prize of $2M, many times $1M, it doesn't seem very popular and costs less than $20 to play. Further that takes in most states.
Oh dear Collingwood, please concentrate on football.

Cost is $2.50, with a maximum of $20/week.
Agree they should concentrate on footy though.

 

[anshell]

The money is going to the poorest people in society.Nobody is forcing you to take part,and the most you can spend is $20.It's no different than buying a lotto ticket each week.So how can anyone argue against that?It's a great idea,and i'm pleased that the club has taken this initiative to support the most disadvantaged members of society.Other clubs should follow our lead and do the same.

 

[Pie eyed]

Maybe thread worthy, maybe not. How do we feel about the 'Magpie Millions' initiative that was launched today?

For those who haven't heard, the club has launched a Collingwood lottery in which people pick a set of 6 current day players, and then one past legend (which I'm assuming serves as like a supplementary).

Prizes include things from cash to memoribilia and exclusive game day opportunities.

It's $2.50 a game, with the maximum per player being $20 a week, and players must be over the age of 18.

I personally won't play as I'm more of a sports betting type punter if ever I do bet, but I'm sure there's plenty of lotto players out there who might enjoy it.

100% of the proceeds go to charity.

There's a video on the club website but I can't link it because I'm on my phone.

How do we feel?

*** Mod Edit: added link below ...

http://www.collingwoodfc.com.au/news/2017-02-03/magpie-millions-new-community-initiative

I'm all for it if 100% of the profit go to charity and no-one can bet their pension on it.
I won't participate though.

 

[whiskeytown]

I don't think this will last but lotteries are a great way to raise funds for good causes. Not usually a fan of big government but the U.K national lottery is a prime example... money from that goes to arts, heritage and social causes. If none of the big footy punters play then it means I have more chance of winning

 

[BEEG]

I really can't see this being successful. I have just checked Tattslotto for Monday and Wednesday and they seem to have a max prize of $2M, many times $1M, it doesn't seem very popular and costs less than $20 to play. Further that takes in most states.
Oh dear Collingwood, please concentrate on football.

Might aswell forget about the footy side of it and just call it Collingwood Enterprises.

 

[Bad Horse]

Net means "after siphoning".

I promise to distribute my net* salary to charitable organisations.

*net of beer money, parma and chips, girlfriend expenditure, legal fees related to restraining orders, more beer, vodka to make me forget my ex boyfriend, ok how about a vodka drip, enough parts to fix the usual defects in an AU falcon, jewellery to get my girlfriend speaking to me again when she finds me passed out from vodka with a picture of my ex in my cold lifeless hand, rent, inadvisable overpriced shit from chapel street i bought because I was going to the same party as an ex and wanted them to eat their heart out, Huxtaburger and beer binge when they didnt notice me at all, third phone for the year after the last was dropped in a hot press and is now 0.3 mm thick and the size of a family pizza.

By my reckoning the Red Cross owe me $202,173.55

 

[TradeDraft]

Might aswell forget about the footy side of it and just call it Collingwood Enterprises.

Well with the Different Teams might not be far off

 

[Sloth]

chucked $20 on it...we'll see what happens

 

[dog in a manger]

 

[dog in a manger]

Like a Lot of Rich People. They just lose Touch on Normal People

If you earn around $30,000.00 per year you are among the top 1% of the worlds population. Dam those RICH PEOPLE.............

 

[Maggie5]

I would be very surprised if they sell enough tickets to cover the costs of running and prize money.

 

[Vampire013]

I found it interesting that it is registered in the NT. Victoria has much stricter regulations on gambling and I think it takes a bigger slice. (I may be wrong but seem to recall something about NT).

Question: Those of you that do gamble with agencies, are most registered in NT?

I think most gambling agencies for some reason are registered in the NT.
No idea why though.
Just like all pr0n distributors are in NT or ACT.
Something to do with laws and regulations.

 

[The Dawes]

I would be very surprised if they sell enough tickets to cover the costs of running and prize money.

The club's probably taken out an insurance policy against the $2m going off. Naturally the premium is included in the running costs too.

Not the worst idea overall, but I can't see it being successful given the proliferation of gambling opportunities these days. Lottoland anyone?

 

[Black_White]

The club's probably taken out an insurance policy against the $2m going off. Naturally the premium is included in the running costs too.

Not the worst idea overall, but I can't see it being successful given the proliferation of gambling opportunities these days. Lottoland anyone?

If you read the press release the first prize is insured for payment.
The actual take from the sales will not be used to pay out the million dollars. The insurance company will pay that is and when it happens. Which it won't.

 

[jmac70]

So far I have won five times. A cool $1 payout each time.

Anybody else with a success story?

 

[Hagla]

So far I have won five times. A cool $1 payout each time.

Anybody else with a success story?

I have won a total of $48 but I'm not sure what my biggest win was. Pretty sure I'll get the million soon though.

 

[Anzacday]

I've won every week.
I haven't played.

 

[Markfs]

So far I have won five times. A cool $1 payout each time.

Anybody else with a success story?

You better make every week count. I think the company that the club is in partnership with has suspended trading on the stock exchange. It will probably go into receivership in the near future....although i'm not a professional stock market analyst.

It looks like another example of the experts on the board demonstrating their skills...

 

[frizzle]

You better make every week count. I think the company that the club is in partnership with has suspended trading on the stock exchange. It will probably go into receivership in the near future....although i'm not a professional stock market analyst.

It looks like another example of the experts on the board demonstrating their skills...

Why am I not surprised?

 

[Markfs]

I noticed that the magpie millions says that Plus Connect is the company operating the lottery with the Pies. However the following is from the stock exchange ....and Activistic is currently in a trading halt after its share price has slid down off the map....

we can only hope that if Activistic goes belly up that it doesn't take Collingwood with it....you have to wonder why the board goes into partnerships with such "companies"

Activistic Limited (“Activistic” or the “Company”) is pleased to comment on its key activities and achievements during the March quarter. The Company completed its off-market takeover of Plus Connect Limited. Plus Connect currently operates two socially responsible lottery products, a sports and a charity lottery. The acquisition has allowed Activistic to enter the Australian market and expand its existing range of charitable fundraising solutions In February 2017, Plus Connect launched its first sports lottery product, “Magpie Millions”, in a partnership agreement with Collingwood Football Club. The Company expects to sign and announce further AFL clubs over the balance of the 2017 calendar year. Furthermore, Plus Connect is working on expanding this product into other sporting codes in Australia and potentially overseas. Magpie Millions was launched in a test or beta phase without external marketing. Early results since launch and to 30 March 2017 are very encouraging. Sales have remained steady and other key metrics show the high acceptance of this product.

The company continues with its micro-donations activities in the US market and actively searches for additional strategic partnership agreements to further develop its existing products and technology. Given the long-term nature of the micro-donations business model, the Company has approached a number of US based parties who have shown interest in working with Activistic, allowing the Company to reach a wider audience at reduced costs and improve its existing fundraising solutions.

 

[Markfs]

The following article gives some background to the "partnership". It's from February of this year. The most recent quarterly statement from Activistic showed that it had lost 4 million bucks in the current financial year and only had a few bucks left...... hence the trading halt. .....

once again, this article doesn't seem to talk about what would happen to the Collingwood footy club if its joint venture partner went belly up....

it's interesting to note that the independent investigation is only going to investigate the football side of things.....one wonders...



Friday’s announcement by Activistic (ASX: ACU) that its wholly owned subsidiary, Plus Connect had teamed up with Collingwood Football Club in launching a joint venture through Sports Lottery Australia, which will be aimed at community focused fundraising, created substantial interest in the stock with its shares rallying more than 20%.

Of course, historical data in terms of earnings performance and/or share trading patterns should not be used as the basis for an investment as they may not be replicated. Those considering this stock should seek independent financial advice.

The negotiation of the joint venture came only a fortnight after Activistic moved to compulsory acquisition in relation to the purchase of Plus Connect.

Under the arrangement Collingwood Football Club will promote Magpie Millions, a groundbreaking fundraising initiative that will underpin the club’s significant community projects and future philanthropic plans.

Plus Connect’s role involves the provision of the Northern Territory licence, the online platform, the expertise to design and operate socially responsible lottery based products and the ongoing management of all compliance related activities.

Collingwood Football Club has a large reach through its supporter databases, social media platforms, club media publications and game day events. Tapping into this network, each week Magpie Millions players will have the opportunity to win $2 million, as well as being in the running for other ‘money can’t buy’ type experiences.

Australian market for charity and not for profit lotteries estimated at $600 million annually
Activistic noted that the Australian market for charity and not for profit lotteries is estimated at approximately $600 million annually.

All profits from the venture will be contributed to welfare programs, partnerships and grassroots activities that Collingwood is committed to.

Taking a lead from the success of this form of fundraising overseas, Collingwood Football Club Chief Executive, Gary Pert said, “Sports lottery products in Europe have proven to be valuable additional sources of revenue for sporting clubs and major sporting bodies whilst being compatible with the community and social values of those clubs and organisations”.

It would appear that there could be similar ventures in the pipeline with Activistic’s Executive Director Paul Crossin saying, “There has been strong interest from the AFL community and we are now in advanced discussions with other major AFL teams who aim to develop and commercialise similar products”.