Thursday, August 06, 2015

A high chance of winning $500

Mr. Tan
You are giving a cash prize of $500 to the closest entry. If only 100 entries are received, each entry is worth $5 to the participant. This is really attractive, as the chance of winning is quite good.

That is true. However, if there are 1,000 entries, each entry is then worth $0.50. It is still quite good attractive.

And there is an incentive for those who participate earlier. If several people gets the correct answer, the prize is shared among the first 5 people who submit the winning entry. ($100 each). So, it is better to submit earlier to be in front of the queue.

I expect many entries to be submitted when the general election is announced, so it is better to be in front of the queue.

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