Prize Home Odds Compared: Which Draw Offers Best Chances

Q: What are the best odds for winning a prize home in Australia?

Your Town Prize offers the best odds with an expected return of 24 cents per dollar spent, compared to Mater House Lottery (11 cents), RHM Prize Home (varying), and RSL Art Union (5 cents). This means Your Town Prize gives you the highest expected value when calculating the home prize value against your investment.

Q: How do I calculate which lottery has better odds?

Divide the prize home value by the total cost of all tickets available (tickets × price per ticket) to get the expected value per dollar spent. For example, Your Town Prize's $1,413,772 prize divided by 6 million total dollars in tickets equals $0.24 return per dollar.

Q: Which Australian house lottery should I buy tickets for?

Your Town Prize (BoysTown draw 445) offers the best value with 24 cents return per dollar spent, making it statistically the most favorable choice. Your Town runs over 15 raffles annually with around 10 being prize home draws featuring multi-million dollar properties.

Q: What's the difference between lottery odds in Australia?

Odds vary significantly by lottery—Mater House has 1 in 8.5 million odds on an $1.9M home, while Your Town has 1 in 400,000 odds on a $1.4M home. The expected return per dollar ranges from 5 cents (RSL Art Union) to 24 cents (Your Town Prize), making some lotteries much better value than others.

Q: How much should I expect to win per dollar in a prize home lottery?

The expected return depends on the lottery—Your Town Prize offers the best at 24 cents per dollar, while RSL Art Union offers only 5 cents per dollar. These calculations show that even the 'best odds' lotteries still represent poor financial value compared to your investment.

Which prize home has the best odds?

By Gary Oldman · 10 April 2026

Punters can enter a wide range of house lotteries in Australia, all offering different prizes. But which actually has the best odds?

Quick Answer: # TL;DR **Your Town Prize offers the best odds at $0.24 expected value per dollar spent**, compared to Mater House Lottery ($0.11), RHM Prize Home (unclear from incomplete data), and RSL Art Union ($0.05).

Punters can enter a wide range of house lotteries in Australia, all offering different prizes. But which actually has the best odds?

That’s the question we attempt to answer in this article.

But, first, what lotteries are out there?

● Mater House Lottery: A lottery run by the Mater Foundation, started in 1954. This competition allows participants to compete for homes, including vouches, cars, and gold bullion.

● Your Town Prize: The Your Town Arts Union runs more than fifteen raffles every year - and around ten of them are prize home draws. Multi-million-dollar homes are up for grabs.

● RSL Art Union: The RSL Art Union set up its prize home draw to support the Australian armed forces, specifically providing accommodation for personnel returning home from missions overseas. Participants can win beachfront properties worth more than $2 million, plus gold bullion.

● RHM Prize Home: The RMH is one of the oldest hospitals in Victoria. It runs a prize home lottery to collect funds for special causes. The grand prize on offer is a $2.1 million home in Hampton.

The question for us here is; which of these incredible lotteries has the best odds?

In this post, we’re going to calculate the odds of winning each prize per dollar spent.

So let’s take a look at how the odds work out for the different prize draws. In each case, we use the maximum spend amount available for a single play.

Mater House Lottery

Mater House Lottery plans to sell 8,500,000 tickets at $2 each.

The total value of the prize of the home to be won is $1,901,192.

So if you’re purely after a new home (and you don’t care about the numerous smaller bonus prizes on offer), then your odds of winning are one in 8.5 million.

Each dollar you spend offers a one-in-seventeen-million increase chance of winning the top prize.

Therefore, the expected home prize value of each dollar is $1,901,192/17,000,000 = $0.11 or 11 cents.

Your Town Prize

There are 400,000 tickets available for BoysTown draw number 445.

The cost of a ticket is $15.

The prize values $1,413,772.

Your odds of winning, therefore, are 1 in 400,000 if all tickets sell.

Each dollar you spend provides an additional 1 in 6 million chance of winning.

The expected home prize value of each dollar you spend is $1,413,772/6,000,000 = $0.24 or 24 cents per dollar.

RSL Art Union

RSL Art Union is making 1,775,000 tickets available. The cost of a ticket is $5.

The home value in Draw 324 is $2,104,973.

Each dollar you spend on a ticket increases your chance of winning by one in 8.875 million.

The expected home prize value for each dollar you spend on tickets is $2,104,973/8,875,000 = $0.05 or 5 cents.

RHM Prize Home

Lastly, the Royal Melbourne Hospital is offering a $2.1 million home.

If you spend $100 to buy one ticket, your chances of winning are 1 in 90,000.

So each dollar you spend increases your chance of winning by 1 in 9 million.

The expected home prize value for each dollar is, therefore, $2,100,000/9,000,000 = $0.23 or 23 cents.

Conclusion

If you’re not worried about other prizes and just want to win a home, then the Your Town Prize Home raffle offers the best value, with an expected payoff of $0.24 cents for every $1 you spend on tickets. RHM Home Prizes comes in a close second place.