As said pyramid schemes all round, don't waste your time.

The theory is they have 100 people (for example, in practice they probably have a lot more!) in the waiting list who have all paid £50 = £5000 in their pot. They cannot lose as the person at number 1 in the list only gets the telly when person number 101 joins the pyramid and pays their £50. This way when people stop joining there will be 100 people who are £50 down.