[dtbog]

Well, I'm no expert, but...

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Mathematically, what is the best position to draw from? Is there any advantage to any of the positions?

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Of course not! Everyone has a 1/12 chance of winning.

If you think of it this way: if you're 5th to draw,

( 4/12 = 1/3 chance that the winner has already been drawn ) * (0 chance of you winning, given this scenario) = 0% chance of winning in this situation

( 8/12 = 2/3 chance that the winner has not already been drawn ) * (1/8 chance of you winning, given this scenario) = 2/24 = 1/12 chance of winning.

So, total sum = 1/12, same as you'd expect.

... and so on for the rest of the positions. Makes no difference.

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Now assume that there are 12 tickets and only one winner, but you can see the other draws as they happen, and if the "winner" is drawn, you don't have to "buy" your chance, and can therefore save your $100. What is the best position to draw from in this scenario?

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This scenario doesn't really make any sense in terms of EV calculation, because if the first person to draw selects the winner, where does the prize come from? No one else bought tickets.

-DB