So, being a stats nerd, I’ve been recording some info about each week’s PowerDraw since I joined the forums a few weeks ago. Mainly, I’m interested in the “value” of each PowerBuck spent to enter a drawing, and the chance of winning per single entry.
If you look at the image below, the first 3 weeks of drawings have an average value of $1.03 per PowerBuck spent, calculated as the MSRP of the item divided by the number of PowerBucks needed for one entry. Then, if you look at the current week, where the numbers are in yellow, the average value is only $0.81.
It’s only one week but hopefully, this isn’t an indicator that they think it’s been too easy to win prizes and are therefore increasing the cost of entry.
p.s. inb4 people comment on it, ignore the Win % for the current week which isn’t valid in the middle of the week. I like to recalculate it at the last possible minute before the drawing closes.
Yep I did notice this week’s draws are really expensive. Also nice data presentation could go /r/dataisbeautiful
More expensive prizes = higher buck points per entry
There are occasions when entry into the draw has been 1 buck so there are times when that rule won’t equate.
Sure it’s all a bitta craic anyway
Yes, I realize that which is why I normalized for MSRP
Yes they are but as others mentioned the prizes are more expensive. But they have run some promotions and dropped the power buck price down. Also when they want to move some of their older products, I’ve notice they power buck price is low.
Interesting… thanks for making the chart! While I’m definitely not here to complain either, it’s still cool to bring up these things, I think!
Also seems like the number of prizes available has been decreasing, too.
Toward the startup of Power Draw, there were either 3 or 5 prizes available, but now it’s usually 2 or 3… haven’t seen 5 for some time.
I did notice that. Thus, I’ve only thrown in a couple entries on items that I wish I won. No joy though.
My thinking on this week is quite simple.
They wanted to have red prizes because of Chinese New Year and there are only so many products that are available.
The Cable was $20 before and is this week so I can’t see anything wrong.
Depends if there’s a special event happening.
GOOD POINT. The speaker was also 50 before.
Even so, I’m sure inflation isn’t limited to just ‘real money’…
Nice of you to put it all into a graph. I had my own excel sheet going but I just kept track of what was available and it’s cost…I like yours much better
And I agree with @joshuad11 on prize quantity, I remember 5 winners being chosen and it’s slowly dropped down to 2 or 3 winners lately. I think I would be ok with higher cost if more people had a chance to win something…also helps to purge those holding into point bucks
Haha, my buck count has slowly been decreasing. Overall, lost 2000 in the past few weeks.
Not worried about those who are here, more so those who pop in and out just to enter contest and never see them again. Those are the ones whos bucks I’m referring to.
But then if it becomes worse value, so fewer entries so your chances go up.
So surely you’d have taken the product value / bucks * prizes / entries and then see how that goes up or down.
Would there be any interest in limiting the value of entries by each person?
So where now you can have 10 entries, regardless of cost per go.
They could limit to $100 per item. So
PowerCore Fusion $50 - Max 2 entries
Powerline+ II $20 - Max 5 entries
That way people don’t blow potentially $1000 in a week and might stick around longer.
Interesting concept, might be worth a go and see how it plays out