Re: Odds of Winning and EV in a Basketball Pool Promotion
In both cases I've assumed you get paid double if you have duplicate cards. If this isn't the case, it won't matter much since this is rare.
I should make a more accurate statement. I've actually assumed that you don't get any duplicate cards. If you get duplicate cards and you can win multiple prizes when they win, then the ev will be a little higher. If you can't win multiple prizes, then it will be a little lower. You will get duplicate cards about 3% of the time, and I estimate this should only affect the ev by about 1% from the values I've calculated (about 25 cents).
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