The Million Dollar Freebie...Explained
mr_black
28-10-2005 23:53:36
[bf8a6b79839]
TheMillionDollarFreebie[=http//www.themilliondollarfreebie.com]TheMillionDollarFreebie[/sizef8a6b79839]
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TheMillionDollarFreebie (TMDF) was originally created to go for the Guinness Record of the biggest freebie given by an incentive site. The objective of this promotion is to build momentum and publicity for GoGreen Network and everyone’s favorite freebie forum, as well as make someone the first freebie millionaire.
FreeIpodGuide.com users have raised valid points in consideration of the way this promotion is to function. We believe that most of these concerns are objectively addressed bellow.
Legal Issues
United States and other country laws prohibit private lotteries and the mailing of lottery tickets as well as other issues concerning raffles. This applies to tickets being purchased to enter a game of chance. Tickets are not purchased, but are simply given as an incentive to try a sponsor on TMDF. This falls into a grey zone similar to that which allows users to gamble over the internet, even though this is illegal and punishable by law. Attorneys will be contracted to circumvent any anticipated difficulties and off shore hosting will be purchased if required.
Running away with the Money
GoGreen Network is in discussion with multiple different escrow services. An escrow service is a third party that holds funds between two parties (TMDF and its users) so that no party is to be left with an unfulfilled agreement. Monies generated by commissions would be deposited into this escrow account, and would only be freed according to the initial covenant set and agreed upon by both parties. This entails that the money could only be used by GoGreen Network to be given away as a prize to the winner, and could not be withdrawn for any other purpose. The escrow service and proof of the holding will be posted on TMDF as soon as a deal is struck with the lowest interest seeking service. GoGreen Network would, in effect, have no control over the funds raised except to hand them over to the winner of the contest.
A Million is a Lot of Money!
Many users have expressed skepticism about the pot ever reaching the sum of 1 million dollars, even though the 4 countries participating in the promotion see that amount spent more than 10 times daily on various lotteries in which the odds are hundreds, if not thousands of times lower.
In real world lotteries, a $1 ticket buys an average chance of 1 out of 22 million to win a jackpot. On average, barely 10% of the monies entered into the contest by users is paid out in prizes. For TMDF, nearly all monies (90%) are given back to users in the form of the Million Dollar Freebie. Furthermore, completing free offers or 1$ trial offers can easily provide users with 20 entries, each of which has odds several times higher than a $1 ticket provided by real world lotteries.
Regardless of this, GoGreen Network will set a date within 6 months from today, where the monies accumulated in the pot will either be drawn in totality or returned to users in the form of points redeemable for cash or gifts.
Mathematical Perspective
To put things into perspective, assuming an average offer value of $20, TMDF would need 50,000 offer completions to reach the sum of 1 million. Spread over 4 participating countries, this is but 12,500 users per country. Over a period of 6 months, this adds up to barely over 2000 offer completions per month per country, which is not only attainable, but quite easily achieved once publicity and press releases are emitted. While forum users may generally prefer to fill offers in exchange for an Ipod or other gift, many others would be happy to have 20 entries in a draw for a million dollars, just for completing a simple $1 trial offer. Free offers will be added in greater number for those who do not have credit cards or do not wish to expend a single cent of their money, but still wish to have the chance to win a million dollars.
With this in mind, GoGreen Network has set this 6 month time limit, although the Network still believes that the figure of 1 million dollars remains more than realistic.
In Conclusion…
As with every new business model, reception of the idea can at times be rough in its fledgling stages. The idea behind TMDF is to provide publicity for a growing network and its associates while distributing a very large sum of money to a lucky user. Administration fees are required to maintain such an endeavor and this fee is not a profit for the Network but rather operating capital that will serve to maintain TMDF and any services it may need to issue the Million Dollar Freebie.
Any valid issue concerning the site will be answered by Mr_Black, a member in good standing on FreeIpodGuide. We apologize for any confusion the lack of certain specifications may have caused to arise and wish to those who participate, the best of luck.
The GoGreen Network Administration.
theman2005
28-10-2005 23:58:47
wow.. that's quite amazing !!
racerace1
29-10-2005 02:58:04
Sweet! I would, hurry up an make your site look much much much more professional, Its like slap dang bang if you know what I mean. Sorry for critiscism, but its constructive critiscism.
turpentinedreams
29-10-2005 09:03:45
i pmed somebody about making a new layout for you guys, but so far he has yet to get back to me.
JOSHBOX
29-10-2005 09:41:12
it still will never work lol
bballp6699
29-10-2005 09:44:39
The way this is going, the winner will be buying depends and a walker with his million...
goofygarber
29-10-2005 09:47:59
six month time limit, bball.
ajrock2000
29-10-2005 10:00:53
This site sucks ass. No offense to you all. I couldn't imagine this getting the attention of 4 countries. Especially since it looks like trash anyways. There is no incentive. The whole point of freebie sites is so everyone can win something if they want. I don't consider this an incentive site. So no Guinness record for you.
J4320
29-10-2005 10:04:17
I still don't want to do it. There's no way I'll ever get anything from them.
EBPIsMaR
29-10-2005 12:00:08
you still make money... you said $1 trial gives you 20 entries.. while most $1 trials pay 25-30$...
Gigante
29-10-2005 23:42:38
The site is still a flop in my opinion. I really do not see you obtaining 2000/month.
theysayjump
29-10-2005 23:55:53
Well considering how weak the US Dollar is at the moment, it might not be that unrealistic.
You can currently get about 2 USD for 1 GBP. Depending on the offers available in the UK and Germany, they might make a killing from people over there.
bluedino
29-10-2005 23:57:09
I'm just happy I won an Ipod
cwncool
30-10-2005 07:34:21
[quote83b7cf964c="bluedino"]I'm just happy I won an Ipod[/quote83b7cf964c]
lol
halfbreed
30-10-2005 08:23:13
[quote9ee274ce33="bluedino"]I'm just happy I won an Ipod[/quote9ee274ce33]
Oh c'mon think BIG
johnjimjones
30-10-2005 10:02:09
The problem is the amount of money. My suggestion would be to start with something in the thousands. Then work your way up from there. That way you gain credibility and increase the money. A million is way to much and a tough goal to get to.
JOSHBOX
30-10-2005 12:39:43
can we shoot for 100k? that would be really reasonable
johnjimjones
30-10-2005 12:56:23
Yeah, see that's much more reasonable.
kposse77
31-10-2005 06:39:30
[quote6875ad88dd="halfbreed"][quote6875ad88dd="bluedino"]I'm just happy I won an Ipod[/quote6875ad88dd]
Oh c'mon think BIG[/quote6875ad88dd]
ROFL
[quoteaa0f75387d] This falls into a grey zone similar to that which allows users to gamble over the internet, even though this is illegal and punishable by law. Attorneys will be contracted to circumvent any anticipated difficulties and off shore hosting will be purchased if required.[/quoteaa0f75387d]
This paragraph makes this entire venture appear to be extremely uncertain.
mikedb
31-10-2005 14:16:05
seems that way too.
Regarless, Id call it a sucess already. IMO, the site was jst a way to premote the launch of the GoGreen network, and at that, it was a huge sucess. I wouldnt know of then otherwise.
shortys408
31-10-2005 14:25:22
what about tax's. Is there a W9 form for this?
EatChex89
31-10-2005 14:41:26
im actually oging to be interviewing mr_black (hopefully) tonight or tomorrow night.
doylnea
22-06-2006 10:18:41
Whatever happened to this?
theysayjump
22-06-2006 10:33:03
It's still going on but they've only made about $527 in 8 months. lol
It was a waste of time from the get-go.
[quote3fb14b2a96="doylnea"]Whatever happened to this?[/quote3fb14b2a96]
Looks like they only got to $20,000...
what are the offers like?
also could it be any more annoying that you only show 3 offers per page?
theysayjump
22-06-2006 11:20:56
[quotebd4929f65f="Nimh"][quotebd4929f65f="doylnea"]Whatever happened to this?[/quotebd4929f65f]
Looks like they only got to $20,000...[/quotebd4929f65f]
The sad thing is that they started at $20,000, so as I said, they really only got about $527.
JordanE
22-06-2006 11:49:58
LOL I thought there was a six month cap and if the $$ wasn't raised it would be turned over to the users in the forum of points?
Either way at the current rate of alittle less than $1,000 a year. This is going to take [b55774e1869]FOREVER[/b55774e1869]
J4320
22-06-2006 11:56:06
^ At that rate it'll take a little over 1,000 years lol.
Let's all do offers so maybe our descendants might get lucky. lol
lol
maybe most people are just signing up for the free 3 entries )
Wolfeman
22-06-2006 12:03:37
They made such a big deal about it. The contest to guess what it is and then it was released and everyone was like thats LAME and it was forgot about within a week )
damac
22-06-2006 13:01:47
what a fucking joke
JKirk
22-06-2006 13:45:38
[quote88a32106c7="Wolfeman"]They made such a big deal about it. The contest to guess what it is and then it was released and everyone was like thats LAME and it was forgot about within a week )[/quote88a32106c7]
I'll say. There was like a 50 page thread full of guesses and when they released it, everyone was so disappointed it because they talked it up so much. I just remembered I have like 2 tickets in this, I'll be sure to leave this in my will so my great-great-grandchildren will inherit this. D
doylnea
22-06-2006 13:51:41
The point of my post wasn't to foster an atmosphere of bashing - it was to actaully find out what happended to the project.
yeah maybe people shouldnt threadcrap ;)
i will take my 3 entries and hopefully win when i am ready to retire. it is a decent idea but hasnt had any steam.
ilanbg
22-06-2006 19:07:07
It's just silly to have had the prize have been 1 million. If it were 10K then [ieb406eec2b]maybe[/ieb406eec2b] it would have taken off.