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View Full Version : NETeller CashGiveaway (check my math)

Felipe
11-30-2005, 07:04 PM
NETeller gives away cash prizes when you use your NETpoints to enter the draw. They give you 10pts for each $1 you send to a merchant. 1000pts is equal to $100 given to a merchant. I know this is kind of a freeroll, but I'm going to "assume" that 1000pts = $100. I want to figure out the mathematical expectation for each draw, assuming that the points were equal to "real" money.

There are three draws <ul type="square"> (A) $500 prize for 1000pts (B) $1000 prize for 2500 pts (C) $3000 prize for 5000 pts.[/list]
No. of entrants:<ul type="square"> (A) has 67,514 entrants (B) 25,417 (C) 215,666.[/list]
I used the following formula:
E(x) is mathematical expectation, where x is Draw A,B or C.
P is the probability of winning the draw
Z is the prize
y is the initial investment (points)
so...

E(x) = p (z + y) - y


E(A) = -$99.99
E(B) = -$249.95
E(C) = -$499.98

Did I get it right?
Felipe
11-30-2005, 11:03 PM
anybody?
BruceZ
12-01-2005, 12:02 AM
[ QUOTE ]
NETeller gives away cash prizes when you use your NETpoints to enter the draw. They give you 10pts for each $1 you send to a merchant. 1000pts is equal to $100 given to a merchant. I know this is kind of a freeroll, but I'm going to "assume" that 1000pts = $100. I want to figure out the mathematical expectation for each draw, assuming that the points were equal to "real" money.

There are three draws <ul type="square"> (A) $500 prize for 1000pts (B) $1000 prize for 2500 pts (C) $3000 prize for 5000 pts.[/list]
No. of entrants:<ul type="square"> (A) has 67,514 entrants (B) 25,417 (C) 215,666.[/list]
I used the following formula:
E(x) is mathematical expectation, where x is Draw A,B or C.
P is the probability of winning the draw
Z is the prize
y is the initial investment (points)
so...

E(x) = p (z + y) - y


E(A) = -$99.99
E(B) = -$249.95
E(C) = -$499.98

Did I get it right?

[/ QUOTE ]

Yes. 1 cent, 5 cents, and 2 cents back out of your hundreds of dollars. Good luck. /images/graemlins/smile.gif
Apathy
12-01-2005, 03:39 AM
Thing is is that this draw is fake, nobody really ever wins.
Bluff Daddy
12-01-2005, 04:24 AM
I won $3000
Felipe
12-01-2005, 10:43 PM
"...nobody really ever wins."

"I won $3000."

Isn't the internet great.
tonypaladino
12-02-2005, 03:50 AM
Regarding "nobody ever wins"

It's been talked about before. There are big sportsbettors who move many times the amount of money thru Neteller that high-stakes poker players do, and they get many more entries. That's why you don't hear about too many 2+2ers winning