Would you pay 5$ te get chance to win 40$

Hey,

Would you pay 5$ to get a chance to win 40$ per month ? lets say in a game , but Not in a poker , card game

Thanks

 

Depends on the chances of winning. But no, probably not. $40 is not enough to make it interesting.

 

Wouldnt risk it. Unless bigger money

Would risk $5 for $500

 

What about chances of winning 10%.. nd how much do you think can be interesting ?

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Would you risk with a little chance to win (500$) : 1% chance ?

 

It all depends on the chance to win, i would say that for a small prize like that, it would be difficult to get somone to spend money if the chance is worse than 1/9

 

Well! it's a risk but NO RISK means NO BUSINESS!

have anyone tested

 

You're right... but there's a difference between calculated risk and lottery-style risk.

 

If I want to play the lottery - I'll play the actual lottery.

Who in their right mind would pay $5 OVER THE INTERNET for a 10% chance of winning 40$? This may be the stupidest idea in the history of DP.

 

There are much stupider ideas, and this one ain't bad. Might just try it out hehe.

 

I would not pay 5$ if I had 1/9 chance to win 40$, but I would pay 5$ if I had a 1/2 chance to win 11$

 

Obviously - but why would anyone run a game like that?

 

If it was for $100, chances 10:1, I'd invest $5 ..maybe.
I know you can't run a biz on that but that's how I see it.

 

I wouldn't join. 5 bucks for 40 ain't that much for that sort of risk.

 

probably i would pay

 

just think about scratch cards.

You can get scratch cards that cost $5 or more, but you have the chance to win much bigger prizes, $40 just isnt a big enough return for the level of risk.

Also not an easy thing to monetize, trust me, i ran a game site like the one you may be getting into 2 or 3 years ago, i was paying out $50 a week, and although i covered my losses, it diddnt cover them to the extent that it was worth it. - i since closed the site.

 

Thanks for replies.

It is not like lottery . Think about a competetion. You pay 5$ to participate. Lets say there are 10 players and each player payed 5$.. 5 x 10 =50 $
So if I am going to pay only 1 of players, who will be on first place, then the max amount would be 50$ ( without any profit). The chances will be 10:1 . But it all depends on you, if you will effort you will have chance to win.
But if I am going to pay for more than 1 player then chances getting a bit higher but amount is getting down

I am thinking about the problem like this : There are N players on competetion, and each of them paying let say 5$ . How many of them could become winners, and how much to determine the total winning cash

How would you solve this ?

 

Depends on the odds. If the odds were more than 1 out of 8, then of course (with biiig money that means good income).