I'm part of an online community that raffles away prizes, typically with 30 or 40 spots in a raffle. The numbered chips/balls are placed into some type of hopper, and pulled out one at a time (random/controlled/etc). The rules are pretty simple: you can buy as many spots as you'd like, and the last out wins the prize (so numbers are drawn until there is one chip/ball remaining, and that is the winning spot). Not a math or stats guy, so looking for some help as it's caused some debate...
Let's say it's a 10 spot raffle, and I buy one single spot.
Do I have a 1 in 10 shot of winning? Or do I have a 1 in 10 chance of losing (since you actually want to avoid having your number drawn until the end)? Do my odds reset with every number drawn, or do they carry through the entire raffle?
Do you get where I am going with this?
Thanks for any help/insight!