EP Raffle

Hello summoners. I am planning a raffle for 5 ep with an entry fee of 1 ep. The plan for the raffle is that everybody that wants to join gifts me one ep with a number 1-100 in the message. I am ranked around 70ish. When I end the raffle on Saturday Vorpal would put the numbers on http://stattrek.com/statistics/random-number-generator.aspx , to use it for this purpose he would put min value 1 and and max value 100 and the winner would be the first number that was selected I see. I would then give 5 ep to the winner or if more than 10 people signed up the winnings would go to 10ep. Vorpal will be moderating this raffle. I will post peoples numbers and name on this thread.

Gralstash- #24
Boredomi666- #76
Pida- #7

sounds like you're set to make 90-95 eps profit, what a raffle

2 people have signed up of course I can get 100 people somehow ! Seriously at the most ill make 5 ep in profit.

Your odds are pretty unattractive.

Expected return on entering with 1 EP is at most: E = 1% chance of winning * 10 EP = 0.1 EP. This is worse than all major lotteries I know.

My recommendation is you change it so that you pick a winner out of all entrants (so probability of winning is 1 / number of entries), and if you want to keep EP, just take 10% of the total. That way, expected return is up to 0.9 EP - much more attractive.

segamatic wrote:Your odds are pretty unattractive.

Expected return on entering with 1 EP is at most: E = 1% chance of winning * 10 EP = 0.1 EP. This is worse than all major lotteries I know.

My recommendation is you change it so that you pick a winner out of all entrants (so probability of winning is 1 / number of entries), and if you want to keep EP, just take 10% of the total. That way, expected return is up to 0.9 EP - much more attractive.

No, no sir the odds of someone winning are out of how many people enter one person will win no matter what. The number generator displays 100 numbers and whoever number it shows first will be the winner. I'm just really bad at explaining it.

I understood just fine. Odds aren't looking so bad right now. But I'd have to find you to enter.

JimmyDick wrote:I understood just fine. Odds aren't looking so bad right now. But I'd have to find you to enter.

I'm 80ish overall.