Ellis Island 100K Contest - another Mission Impossible promo

Ellis Island 100K Contest - another Mission Impossible promo It's been a year or so since this annoying trend began. Casinos running promotions where they are able to advertise big dollar amounts being given away, when in actuality, it's just the POSSIBILITY of that amount being won. Good example is the "August $1,000,000 Blackjack Challenge" taking place at the Gold Coast this month. $1,000,000 sounds like something worth playing for, but when you get the details you may come to the conclusion that they could just as easily call it the "Once in 930 years we'll give away $1,000,000 Blackjack Challenge". On August 31 they will draw 10 names from all the players who've been accumulating tickets (one ticket per hour of $5 blackjack play) in the prior 30 days. Those 10 players get to play one hand vs a 6 deck shoe. If they get dealt a blackjack they get a second hand. If dealt a second blackjack they play a third and if that hand is also a blackjack (third in a row) they win $1,000,000. Now they do give some consolation money to those who get pulled but fail to get the three blackjacks in a row, but the big lure is the $1,000,000. They are able to use that figure up front in their ad because it's somehow possible to win that amount. How possible is it? The probability of being dealt a blackjack on any specific hand is 4.75% which is close enough to once every 21 hands to call it that. To get three in a row on a six deck shoe would be once every 9300 attempts (actually a little tougher due to effect of removal as the blackjacks occur with no replacement) or a pct of 0.000107. With 10 players getting a shot at it, the odds of the Gold Coast giving away the 1M is once in every 930 times they run this promotion. Since it looks like a once a year deal, the over/under on when the Gold Coast might give away the 1M is the year 2685. It would take running this promotion 672 times before they have a slightly better than 50% chance of having to pay the 1M out and it will occur, on average, once every 930 times they run the promotion overall. If it sounds like your chances of taking down the big prize in this promotion are slim-to-none, then when you look at the Ellis Island football contest you'll realize that they asked slim to leave the room when they drew this up. There's zero chance of winning the main prize here. It's a free to enter contest so they can offer anything they want but c'mon now. This one is as close to impossible as they come. Ellis Island advertises their contest as the "Win up to $100,000" Passport Pickem Football Contest. $25k is guaranteed via drawings plus weekly and season long prizes. The other $75,000 can only be won by picking at least 12 winners each week for all 17 weeks. I tried calculating the probability of doing this even though I knew going in that it was pretty much impossible. With bye weeks shaving games off the schedule, the odds are easily in the tens of millions to one. Not worth the headache and not worth even considering the 75k as part of the prize pool. Ellis is actually shorting themselves on this as they could safely offer 1M and have no risk of having to pay it out. If it were my casino, I'd offer as much as I legally could and get all the publicity that would result. 10 million plus one of my kidneys? Sure, and I'd sleep like a baby at night with no concern for my bankroll or internal organs. You have no shot at the 75k here. Zero. I'd be shocked if anyone was alive for this after week 4. I'd bet even money that no one was alive after week 3. The $100,000 Ellis Island Football Contest will pay out 25k in prize money. End of story.
[QUOTE=frankb22;58038]If it sounds like your chances of taking down the big prize in this promotion are slim-to-none, then when you look at the Ellis Island football contest you'll realize that they asked slim to leave the room when they drew this up. There's zero chance of winning the main prize here. It's a free to enter contest so they can offer anything they want but c'mon now. This one is as close to impossible as they come. Ellis Island advertises their contest as the "Win up to $100,000" Passport Pickem Football Contest. $25k is guaranteed via drawings plus weekly and season long prizes. The other $75,000 can only be won by picking at least 12 winners each week for all 17 weeks. I tried calculating the probability of doing this even though I knew going in that it was pretty much impossible. With bye weeks shaving games off the schedule, the odds are easily in the tens of millions to one. Not worth the headache and not worth even considering the 75k as part of the prize pool. Ellis is actually shorting themselves on this as they could safely offer 1M and have no risk of having to pay it out. If it were my casino, I'd offer as much as I legally could and get all the publicity that would result. 10 million plus one of my kidneys? Sure, and I'd sleep like a baby at night with no concern for my bankroll or internal organs. You have no shot at the 75k here. Zero. I'd be shocked if anyone was alive for this after week 4. I'd bet even money that no one was alive after week 3. The $100,000 Ellis Island Football Contest will pay out 25k in prize money. End of story.[/QUOTE] Excellent point about how many times the "offered" prize money has almost no chance of actually being paid out. To put some numbers to the Ellis Island Contest offer of the $75K, I'm assuming, of course, the 12 or more winners are referring to SU not ATS. The NFL schedule has 8 weeks (no byes) of 16 games, 4 weeks (2 bye teams) of 15 games, 3 weeks of 14 games, and 2 weeks of 13 games. We would expect that "selecting" all the favorites would get us the highest expected number of winners. Using Week 1 as an example, if we use the fair value ML and its related win probability for each game, we get that we would have 10.4 winners on average in 16 games or 64.9%. This is a pretty good estimate of what each week provides by selecting all the favorites to win. Now suppose some capper is very capable and can beat that "favorites only" average by over 5%, i.e. hit 70% NFL SU winners (i.e. average 11.2 SU winners out of every 16 games long-term) . E.g. he may be very good at selecting "coin-flip" games. His chance of hitting 12 or more winners in all 17 weeks is roughly 2.2 out of 10 billion. Ugh. Well, ok, now suppose a capper is extremely able and can beat that "favorites only" average by over 10%, i.e. hit 75% NFL SU winners (i.e. average 12 SU winners out of every 16 games long-term). Of course, this capper can make a fortune playing ML bets only. His chance of hitting 12 or more winners in all 17 weeks is roughly 4.1 out of 10 million. So we see indeed that the odds are well in excess of a million to 1 that even a "superhuman" capper can win the $75K. And what about the lowly guy who just picks all the favs, his chances (using 64.9% win rate) are 2.2 in 100 trillion!