To those who think 'the more tickets bought, the more likely to win'? Think again:
Each and every ticket has the same chance of winning. The number of tickets sold will determine the final odds of any one of them being chosen for the prize.
The mistake being made by people who want to buy every ticket in sight? The same one made by lottery ticket buyers when there is a big jackpot...and it's the one I started this post with. That may well be why Tristan apparently set a limit of 1,000 tickets per member, no matter how many anyone can afford. He does not want a situation where a few big players use buying a lot of chances to unduly favor them at the expense of those who can only afford (or wish to buy) a few or just one ticket.
It's true that there might be a slightly greater chance of winning if one has more than one entry simply because one holds more than one ticket. However, buying the extra entries also has the effect of lowering the odds of that person (or anyone) actually winning the prize. The reason? The changes in the odds of winning more than offset having the extra tickets. What one should like--if one wants the best chance to win--is enough entries so that the contest is not cancelled, but no more. This would keep the odds of any one ticket winning as high as possible. This situation almost never happens when the prize is desirable and a lot of people want it, as it is here.
So, everyone? Do buy those tickets, but don't try to corner the market.
Collecting dragons! Check my keep and PM me your offers.
