3 Factors that Influence Sweepstakes Odds
How to Calculate Sweepstakes Odds and Turn Them to Your Favor
Sweepstakes Odds - What Determines Them?
If you read about How to Improve Your Odds of Winning Sweepstakes, you'll find advice like "find local sweepstakes to enter," "concentrate on sweepstakes with lots of prizes," or "enter as often as you can." But why does that advice work? Why do those tips help you find sweepstakes with better odds?
The reason is that there are just three factors that influence sweepstakes odds.
And if you want the best chances of winning sweepstakes, you'll look for ways to turn those influences to your favor.
3 Factors that Influence Sweepstakes Odds:
Three factors that affect how good or bad the odds of winning sweepstakes are:
- How Many Entries You Receive
- How Much Competition You Have
- How Many Prizes are Being Awarded
So let's take a look at these three factors to see how you can maximize your sweepstakes odds.
Improving Your Sweepstakes Odds by Maximizing Your Entries:
The more often you enter, the higher your odds of winning, as long as you are careful to follow the entry frequency rules. Even sweepstakes that allow only one entry per person sometimes give you additional chances to win, so read the rules carefully. You can improve the number of entries you receive by:
- entering sweepstakes faster
- creating a sweepstakes strategy
- taking advantage of sweepstakes referrals
- reading the rules carefully to see if the sponsor offers additional chances to win by posting the contest on Twitter or Facebook, viewing web content, opting in to newsletters, or other actions.
Improving Your Sweepstakes Odds by Minimizing Your Competition:
In sweepstakes odds, competition is the number of entries made by other people. You usually won't know the exact number of entries that other people have made when you enter, but there are some indications that fewer people will probably be entering:
- local sweepstakes that are restricted by area
- sweepstakes restricted by age, gender, industry, or other criteria
- sweepstakes that are difficult or complicated to enter
- creative contests
- sweepstakes with short entry periods
- sweepstakes with small prizes
- sweepstakes with prizes not everyone would want
- sweepstakes that aren't heavily advertised
- unusual entry methods, like Twitter sweepstakes, blog contests, email entries, etc.
Improving Your Sweepstakes Odds by Picking Sweepstakes with Lots of Prizes:
This one is pretty simple. The more prizes being given away, the better your odds of winning. Some sweepstakes give away tens of thousands of prizes, and those always go on my must-enter list. Visit the Lots of Prizes sweepstakes list to find sweepstakes giving away a high number of prizes.
Sweepstakes Odds: Not the Only Factor to Consider
It makes sense to focus most of your efforts on sweepstakes with good odds of winning. But does that mean that it's not worthwhile to shoot for the big prizes like the HGTV Dream Home or other really tasty giveaways?
Of course not. One of the reasons to enter sweepstakes is to have the opportunity to win big. The trick is to balance those big-name sweepstakes with more winnable giveaways so that you win on a regular basis and avoid sweepstakes burnout.