Draws are normally made at our general meetings but since the pandemic lockdown we have had to devise another method.
– Some of the names repeatedly winning is because many of those have multiple numbers so come up more often.
The January winner was drawn at the general meeting we had in February 2020 – the last one. The winners in February and March were drawn by Steve Morphew (leader of the Labour Group at Norfolk County Council), as someone independent, before we set up the algorithm.. To choose the winner we use the two decimal digits of the FTSE 100 index at the close of business on the last day of the month.
- 100 Club shares are numbered 01 to 99
- As an example; the FTSE 100 index as I write this is 5,976.73.
- So the winner in this example would be the holder of share number 73.
- Except not all 100 shares are taken (so there is opportunity for you to join in!).
- With no share 73, we use the two decimal digits of the FTSE 100 index at the close of business on the next day.
- For example it is now 5,974.31, so the winner would be the holder on share 31.
- This is repeated until we have a number for which someone holds a share.
The FTSE index (well at least the two decimal digits) are as random as possible. If you know any different do let me know as I am sure there is profit to be made (for the Party) if those digits could be accurately predicted!
Members can make regular and / or one off donations through the Broadland CLP website Donations page — donate.labour.org.uk/broadland