What Are Your Chances of Winning Competitions? 

From large sums of cash to luxury holidays, brand new cars and white goods to gift cards, there are so many competitions out there offering potentially life-changing prizes, but what are your chances of actually winning? Many people count ‘comping’ as a hobby and it can potentially be quite a profitable one.

We all know that whilst the Lottery offers the chance to win huge amounts, statistically speaking, your chances of winning one of those really big prizes are infinitesimally small. So it makes sense to target smaller competitions where there will be fewer entrants.

Competitions offer companies a relatively cheap way to promote their goods and services whilst giving away some great prizes. It’s often cheaper for a holiday provider to give away a £5,000 luxury holiday to somewhere exotic than to buy an advertisement in a national newspaper.

We have all heard stories of people who win thousands of pounds and wonder what it would be like to be that person. Often, we just don’t know how to begin to find the right competitions. Read on for tips on how to maximise your chances of scooping the big prizes.

What is Comping?

Comping is the hobby of systematically entering many competitions. The more you enter, the greater your chances of winning a large prize. Of course, luck will always come into it, but if you apply yourself and methodically enter a wide range of competitions, rather than just the odd one here and there, you significantly increase your chances of winning big.

Potentially, you could travel the world, boost your savings or furnish your house just from winning competition prizes. In the UK, prize winnings are tax-free so whatever you win is yours to keep without having to worry about HMRC enjoying your prize with you. This includes cash prizes.

Free Competitions

Most of the competitions available are free. For many free competitions, all that is required to enter is the completion of an online form. Sometimes you may have to answer a question about the company’s goods or services, but the information is usually very easily found, either within the competition text itself or on the firm’s website.

Increasing Your Chances of Winning Competitions

With some competitions, you may be asked to attach a photo, write a short poem or complete a tiebreaker. This can deter some people from entering but, in fact, may very well work in your favour. If you put in that little bit of extra effort, your chances of winning will be increased as there will be fewer entrants. There have even been cases, albeit rare, when competitions have had only one entrant!

If you have a specialised hobby or interest, it is also worth seeking out competitions relating to those areas. Again, there are likely to be fewer entrants so your chances of winning will be greater.

Statistically, the more competitions you enter, the greater your overall chances of winning. The first step to realising potentially life-changing prizes is, therefore, to enter. Be methodical and check for new competitions on a regular basis.

Who knows, the next big winner could be you!

Use Competition Finder today to search for Holiday Competitions, Cash Competitions, Items and more!