Is there a lucky formula to win UAE's Mahzooz draw? Man at the helm answers

Gulf News

Mahzooz CEO Farid Samji talks of what numbers people mostly pick and how the draw works  Read the full story here: https://bit.ly/3B7HnzJ  See more videos at https://gulfnews.com/videos Read more Gulf News stories here: https://bit.ly/2HLJ2km  Subscribe to Gulf News on YouTube and watch more of our videos: https://www.youtube.com/user/GulfNewsTV  #UAEnews #lottery #Mahzooz

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00:00It's not just about dreaming and they remain a dream. Dream, play, win. Can we do that?

00:11And that's where Mazoos came in because Mazoos actually is a personal touch. It puts the

00:17customer at the center of all this. Mazoos, lucky. We want to make you lucky. We want

00:23to create a winner out of you.

00:25So the setup of Mazoos, obviously it's a group of investors and we're talking about a mix

00:32of institutions and individuals?

00:34That's right. It's individuals with distinguished backgrounds. These are entrepreneurs, serial

00:44entrepreneurs and some members of distinguished families in the UAE.

00:52Do we have a number on how many investors have come together?

00:55It's less than 10 and they provide us with all sorts of direction, guidance. They're very

01:04passionate about this because this is not just any other company. The kind of work we're

01:09doing. So we're fully supported by investors.

01:13And the concept itself, how does it come? So a person just buys a bottle of water and he

01:18gets into the draw? It's as simple as that?

01:21Well, yes. It is very much like how you described. 35 dirhams is all it costs. And there's a

01:29lot of thought that went into why 35 dirhams?

01:31It was not just something that we just said, it's a nice number. We looked at the

01:38participation levels. We looked at income levels. We looked at disposable income. We

01:42commissioned actually a proper study on this, whereby we went out and asked people, what is a

01:47good enough range? And that's how we came up with 35 dirhams. Yes, 35 dirhams. You buy a

01:55bottle of water, which is then donated. Mazuz facilitates that donation through over 30

02:04partners that we've got. It goes to the needy. Two-quarter workers, people in construction

02:11sites. And by virtue of a person buying a bottle of water, you get to enter and participate in a

02:22draw. And you choose six numbers, anywhere between 1 and 49. You choose six numbers. And

02:32then there's a draw every Saturday, 9 p.m. UAE time, at our own purpose-built, dedicated

02:41studio. And it's a live draw. And there are prizes across the chain. For matching six

02:51out of six, there's a 50 million dirhams prize. It doesn't happen very often. We've not had

02:57a winner yet. There's a random machine. It's live. There's a nice set with a lot of bowls

03:05in them. And the machine automatically picks the bowl. And if you match six out of six,

03:10there's a grand prize, a jackpot. If you choose five out of six, there's a 1 million dirham

03:17prize, which might be shared. And if there are no winners, we roll it over. There's a

03:23four out of six, there's a prize of 1,000 dirhams. And three out of six gets you 35

03:30dirhams. Right. So how many millionaires have you made? Oh, plenty. We've done 43, 44 draws

03:42now. Less than a year. And we've had 15 millionaires, out of which 14 actually won a million dirhams.

03:56And one person actually won 2 million. Because as I said, if there's no winner for the five

04:04out of six category, which is a 1 million, we actually roll that prize over. So it becomes

04:102 million for the following week. We've paid out to date over 52 million dirhams paid out.

04:18We've had participants from over 120 countries, or close to 120 countries. That is confidence.

04:27That is a big wad of acceptance for Masoos that you have so many people playing from

04:34all around the world. And all these prizes were paid out within 15 days of people winning.

04:43Not in installments, not over a year. We don't decide that.

04:48And also, you know, I've always been very curious about how these lottery systems work.

04:54So how does it work? Like, where do you, how is it sustainable for a company like yours

05:00to give such big payouts?

05:03We've got our risk management teams who actually do the math behind this, behind how sort of

05:12payouts that we give. As I mentioned, for profit for sure, but with a very strong social

05:18conscience.

05:21How interesting was that? For full story, log on to gulfnews.com. For now, it's a wrap

05:26From me, this is Anjana Kumar for Gulf News.

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