Prize Draw! GUARANTEED WIN!

[Fahad]

I am running a prize draw, with a guaranteed prize for every entrant.
How it works:
The entrance fee is 15 credits (you can enter as many times as you like) (when donating the credits, put "Prize Draw" as the comment).
Entrants and the number of tickets will be appended to the bottom of this post (if you do not show up within 24hours, please PM me).
At 5PM (GMT), on Tuesday the 1st of February, I will create a prizes chart on my website, showing how much everyone has won.
How prizes are calculated:
Everyone's position will be chosen using random.org. The prize fund is exactly half of my profits (my credits at 5PM on Tuesday the 1st of February GMT, minus 583)
1st place will win half of the prize fund.
2nd gets half of the remainder.
3rd get half of the remainder of that, and so on. Whatever is left of the prize fund, I will distribute equally.

 

[DefecTalisman]

Just curios, if I was 4th what do I get ? If its nothing then how can this be true ?

I am running a prize draw, with a guaranteed prize for every entrant.

Also you might want to rethink you strategy of updating your first post. This only allowed for 24hours after it was posted and then you can't.

 

[Fahad]

You would get half of the prize fund after 1st, 2nd, and 3rd have had their prizes.
Everyone gets half after everyone above them has taken their prize. Also, you get a portion of the rest.

 

[Sohail]

There could be more than 3 entrants you know, so not everyone is guaranteed to get a prize.

 

[Fahad]

I don't think you know how it works. Everyone gets half of the fund after everyone ranking higher than them has taken half. Then, the remainder is distributed equally.
EDIT: I see no-one has bitten and bought a ticket yet. I'll do some advertising in other forums!

 

[galaxyAbstractor]

There could be more than 3 entrants you know, so not everyone is guaranteed to get a prize.

Example:

1st: 100
2nd: 50
3rd: 25
4th: 12.5
5th: 6.25
6th: 3.125
7th: 1.5625
8th: 0.78525

 

[Fahad]

Example:

1st: 100
2nd: 50
3rd: 25
4th: 12.5
5th: 6.25
6th: 3.125
7th: 1.5625
8th: 0.78525

Plus the remainder, divided by 8, each.
Btw, if enough people don't enter, some people will make a loss, as demonstarted above.

 

[galaxyAbstractor]

Plus the remainder, divided by 8, each.
Btw, if enough people don't enter, some people will make a loss, as demonstarted above.

There is always some1 who makes a loss

 

[satbir]

But why anyone will try to get in this kind of contest?

Is this not gambling?

 

[Starshine]

I don't believe you can give anything less than 1.00 credits. ( so, like .25, .50 ) so some of those options wouldn't work.

And you can view some of the past "Contests" run by members, and see why a lot of x10 members are a bit cautious about entering another one.

 

[Loneua Technologies]

I am not going to enter this contest,

How do we know how many people actually entered?

 

[bigjoe4]

lol if only one person entered you get the same amount back as you gave.

 

[Loneua Technologies]

No,

you would get 7.5 credits.

The winner gets have the total.

 

[DefecTalisman]

The funny thing about these contests is that the creator of them usually gets more than the winner. In this case he gets exactly half and is taking no risk whatsoever !

 

[Dan]

Has anyone actually entered this yet???
I might have a go....

 

[Fahad]

First place actually gets more than me, but I get more than the rest.
No entrants yet.
Edit:
It's not going like I thought.
Closed