HOW DOES RAFFLE WORK?

1. Raffle registration
The user enters the raffle in Raffle’s system. The platform then verifies that the raffle is feasible, the product exists and sets a guarantee that must be provided by the owner of the raffle. This guarantee will allow the users participating in the raffle to be sure that they will get the product if they win. The guarantee will be done in a fully decentralized way, and will be automatically released once the product is shipped. Once all the information is validated, the raffle is registered.

2. Reserve numbers
If the raffle has a minimum number of tickets to be sold in order for it to take place, then once the raffle is registered, then the collection of interested parties begins. The interested users will reserve their tickets to be part of the raffle.

3. Start of sale
Once the minimum number of tickets is reached, the raffle is approved. The sale of numbers is triggered and the confirmation of previously made reservations takes place. Users must send the founds for their tickets at this point and they will receive the amount of tickets they paid for. The owner of the product won’t get any money at this stage.

4. Lottery
The raffle platform sets and carries on with the draw is carried out. This will also be made in a fully decentralized way so there are no risks. The draw finishes with one winner for the raffle. The seller of the product ships the product, the payment to the owner is released once shipping has been confirmed and the winner receives its prize!

It is important to note that: (i) all the costs related to custom clearance of the product and international transportation shall be borne by the winner of the prize, and (ii) all costs related to domestic shipment of the product shall be borne by the original owner.

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