The Dark Secret Behind Those Omaze Giveaways - How Money Works Sign up for my newsletter https://compoundeddaily.com 👈 If you have watched YouTube… at all… in the last year or so you have no doubt know what Omaze is… For the few of you who don’t, they are an organisation that promotes lotteries for all manner of different items and experiences, ranging anywhere from a chance to win a Lamborghini all the way to an exclusive Star Wars set tour before it hit theatres. This all sounds very cool especially when it is revealed that all of the proceeds from these lotteries go on to support charities. To date the company has raised over 130 MILLION DOLLARS for charities that do everything from providing scholarships to orphaned children, to installing solar power in remote African communities. Surely it would be pretty hard to hate on an organisation like this right? Well… You see despite this chirpy exterior of flashy cars and warm fuzzies, Omaze is hiding a pretty dark secret. So it’s time to learn how your money works in these raffled because also reveals a lot about how an alarming amount of charitable organizations conduct themselves in the modern day. So before we go any further the first thing you need to know about is that it is a For Profit Institution, which means that its primary goal is not to feed the homeless or save the spotted owl, it’s to make money… It makes this money by representing organizations that are themselves non profits, but they are not one themselves. Now there is nothing fundamentally wrong with this, if feeding America held a charity gala in a Hilton Hotel nobody would have any issues with Hilton hotels later going on to turn a profit that’s fine. Where Omaze starts to push it’s luck though is that it really doesn’t make any effort to stress this relationship. Just think, when your favorite YouTuber was talking about a car giveaway, they probably spoke a lot about Omaze, and the great work it was doing, but just think, do you remember any of the charities that these charities were actually meant to fund? If you do, you certainly have a better memory than me. This is no accident. The company spends millions of dollars on marketing every year and trust me if they wanted you to hear about the actual non-profits, you would have heard about the actual non-profits. The company would instead like for you to conflate with saving the children, more so than running lotteries to make fat stacks, and trust me they do make fat stacks. #Omaze #NonProfit #HowMoneyWorks Omaze lottery fund raising raffle giveaway some lamborghinis and ferraris to winners of this entry free prize money and then money towards good causes and local charities. Follow to learn How Money Works. Find How Money Works on YouTube: https://www.youtube.com/@HowMoneyWorks Disclaimer: This podcast is an independently produced audio adaptation of content originally created by How Money Works. It was developed by a fan who values the channel’s clear and engaging approach to financial education, with the goal of making that knowledge more accessible in a hands-free, audio format. This is not an official production of How Money Works, and it is not affiliated with or endorsed by the channel. All rights to the original video content remain with How Money Works. For any concerns, inquiries, or content-related requests, please feel free to reach out. - ----------------------------- Learn more about your ad choices. Visit megaphone.fm/adchoices
