1. The Olvey family is GUARANTEED to receive an amount no less than $10,000. If we sell our goal of $168,300 they will receive $48,300. The reason we are only guaranteeing $10,000 is in case we aren’t able to sell enough tickets to cover our total expenses for the event. We will not have any monetary gain through this raffle.
2. If we do not sell all of the tickets, the Ovley’s will receive AT LEAST $10,000. For example, if we only sell $50,000, the Ovley’s will receive $10,000 and we will take $40,000. This would cause us to take a large monetary loss. As we have an estimated $120,000 in estimated expenses.
3. Our estimated total expenses are $120,000. Of that $120K, $85,000 is the value of the boat (that’s what our build cost was). The other $35,000 is for online promotions, payment processing fees (I.E. PayPal, Stripe which is our website’s payment processor). Other parts of that $35,000 are for website hosting, the hats which are included with each purchase and compensating 3rd parties who have assisted in starting this raffle.
4. The winner will be announced at the end of March, Boston’s favorite holiday!
6. If anyone has any questions, comments or concerns, please email us and we can answer any questions you may have.