NETeller drawing - Page 3

NSchandler · #21 07-22-2005, 01:37 AM

Basically it's because as you purchase more and more tickets, each ticket represents a smaller portion of the total number of tickets entered. Thus, its value is less than the previous ticket. Additionally, part of its value "cannibalizes" the value of the previous ticket(s).

Use small numbers to think of the intuition:

Suppose there are 3 tickets, not including your own.
If you purchase 1 ticket, this represents 1/4 of the total tickets available, so it's value is 1/4 of the total prize pool. The second ticket, however, represents only 1/5 of the total tickets outstanding. In addition, it decreased the value of your first ticket. A third ticket is only 1/6 of the total number of tickets outstanding...

Here are the odds of you winning with various numbers of tickets:
1 - 25%
2 - 40%
3 - 50%
4 - 57%

So the value of the first ticke is 25% of the prize, the value of the second is 15%, third is 10%, etc...

Anyway, this is the intuition at least.

mtgordon · #22 07-22-2005, 01:37 AM

Say every week there are are 99 other tickets in the pool. If you enter, you have a 1% (1/100) chance of winning. If enter the same one twice, you don't have a 2% chance of winning, you have approx. 1.98% (2/101).

jman220 · #23 07-22-2005, 01:43 AM

[ QUOTE ]
I'm just guessing about this....but I would assume that it's because entering seperate drawings EACH week gives you a chance to win more than once.

If you actually DO win in the drawing where you use all 2500 of your entries than there are 2499 entries that absolutely cannot win.
But with one entry a week you could theoretically win 2x or 2500x or whatever.
All of this assumes that there actually ARE winners (which I increasingly believe is not the case).

I have never entered one of the drawings. I'm only at 2.5-mil points. I am waiting for proof that these drawings actually take place.

Has anyone just written them directly to ask?

[/ QUOTE ]

You think that a site that claims to have weekly cash giveaways on their website will answer an email saying "Oh no, we don't really, thats just a lie?"

Edit: Or do you mean we should email them and ask for proof somehow?

HesseJam · #24 07-22-2005, 05:32 AM

Im in for 133

Oh I asked CS over the phone if they really take place. They confirmed that "you can enter the cash drawings on the web site." [img]/images/graemlins/smile.gif[/img] Not quite the answer I was looking for but I choose not to insist.