Probability Improvement in Sharing Tournament Prize
Posted on 2012-09-05
My son is going to a poker tournament which pays out equal amounts to the top 10%.
Asssuming that all the players have equal ability, then the odds of my son winning is 1 in 10. My son is trying to help decide whether he and two friends should share evenly their prizes. If they do so, how do the odds improve that they will all take home a prize?
Tournament begins in 3 hours so please answer quickly; explaining your results will help me understand the results better.
Do the number of entries in the tournament affect the results, whether it be 100 or 1000 players?