this post was submitted on 09 Oct 2024
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I don't get it
"A chance to win" can mean that chance is very little, almost impossible for you to accomplish, but that 'chance' is enough to make that phrase legally accurate. Think gacha games.
As I understand it these are basically an insurance policy. The promoter takes out a policy detailing the odds of a payout being required, and pay a premium based on the insurer's risk assessment.
And of course the insurer wants to minimise the odds of paying out, and the promoter wants to minimise their premium - so the top prize is usually, as above, near-unwinnable.