Party Poker Ticket Drawing Promotion

[cardcounter0]

Well, I did something stupid and bought a ticket for 100 Party Points. I got ticket# 289xxx, which leads me to believe that the odds of getting a ticket drawn are about 1:300,000

ENJOY!

Could these "promotions" suck any less?

[Tk79]

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which leads me to believe that the odds of getting a ticket drawn are about 1:300,000


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They're drawing more than 1 ticket.

[viper930]

yeah man, theyre drawing like 500 tickets. the chances will be like 500:1,000,000

SOLID +EV PLAY!

[ncboiler]

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Could these "promotions" suck any less?



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Don't challenge them

[Mogobu The Fool]

If there are 300,000 tickets sold, that's a pool of 30,000,000 points vying for $100,000, or an overlay of 300 points per dollar; that's a value of 3 cents per point.

That's without considering the (small) chance of getting two winners and a bonus $500. Can't think about that with this many tables open.

<flopped nut flush!>

But don't worry, while the tickets still have decent value, 2+2 arbitragers will be willing to swoop in at the last moment buying up tickets, depressing the value.

<fold><fold><fold><fold>

Ok, the chance of two hits on two tickets is negligible; it adds considerably less than a penny to the value.

But at 100 tickets (10k Party Points), there is significant value in the chance of a double hit, if my table-distracted math is correct. . .

<trip kings, ace kick!>

Here's the math:

<turned the boat!>

Approx chance one hit: ( (500 wins/300,000 entries) * 100 tix ) = .1666666

Approx chance two hits: square the previous = .02777777

Multiply by winnings bonus of $500 = $13.88 value for the set of 100 tickets, or $13.88/10,000 points or. . .

Actually, it's still well under a penny per point.

[thing85]

Your table action really distracted from what would have otherwise been a decent reply.

[keikiwai]

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Your table action really distracted from what would have otherwise been a decent reply.

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I don't know. I think it added a certain je ne sais quoi.

[donkeyradish]

Someone in PP must have thought, we've too many points out there, what if all those people actually spent them in our store? Oh I know, let everyone Gamboool them away!

[piki]

Random fact #1: with this promotion's structure, owning 0.36% of the ticket pool nets most $ per point.

Random fact #2: given ~320,000 tickets bought till now, optimal number of tickets (~1150) nets about 0.55 cents per party point.

-pix

[thing85]

[ QUOTE ]
Random fact #1: with this promotion's structure, owning 0.36% of the ticket pool nets most $ per point.

Random fact #2: given ~320,000 tickets bought till now, optimal number of tickets (~1150) nets about 0.55 cents per party point.

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Once this promotion ends, I can't wait to see the posts that say "WTF I PURCHASED 1200 TICKETS AND WON NOTHING" while random people who didn't purchase any tickets win. Remember that one promotion a couple months back, where players were elgible to win a prize over a span of 3 days? Most people won nothing while those who did win the first day continued to win (and won the same prize again, I believe).

[RobertHunter]

I think most of us agree that the odds are terrible at best for this promotion but we are forgetting that there is going to be $100,000.00 additional money in the accounts of poker players.It stands to reason that a lot of the people who win this promotion will not be the best poker players in the world,coupled with the fact that many will see their winnings as "free money" and play loosely with it.I think the combination of these factors could possibly result in the tables on Party loosening up(even more) for a few days after the payouts.

[Ken_AA]

I really don't understand the bitching about this. Its just another option on how to spend your points. If you don't like it then don't do it.

Ken