Getting Started with Probability-Based Prizing

Which campaign types use probability-based prizing?

Slot Machine
Spin to Win
Instant Win

All three of these campaign types have an “immediate prizing” function that relies on a Tradable Bits user setting up prizes and their winning probabilities.

What logic do these campaigns use to award prizes?

Probability-based prizing.

Let's walk through an example to show you how our system determines prize winners. We'll use the Spin to Win campaign as a use case.

This is what a prizing page looks like across campaign types. As you can see, whoever is building the campaign (the TBits User) will be asked to fill in a Prizing Title and an Award Probability. Across all three campaign types, we recommend setting the total probability of winning/losing options to add up to 100%.

The odds of winning work as an overall ratio of one another. Let's look at two different examples to explore what this means.

Example: You have 3 Prizes you wish to award: Prize A, Prize B, and Prize C.

To make this a simple, closed system that totals 100%, you might set the award probabilities as follows:

Title	Award Probability
Prize A	33%
Prize B	33%
Prize C	33%
TOTAL	100%

In this configuration, when a fan plays:

The system allocates the outcomes like a %100 pie chart.
The fan has a 33% weighted likelihood of receiving Prize A, a 33% weighted likelihood of receiving Prize B, and a 33% weighted likelihood of receiving Prize C.
Because the total equals 100%, the fan is guaranteed to receive one and only one of the three prizes listed above.

These parameters provide the weighted likelihood that a user would win each specific prize. The awarding is purely probability-based, meaning that the percentage is calculated on every single attempt. For example, a prize set to a 10% chance of winning will not necessarily be awarded 1 out of every 10 spins; rather, there is a 10% chance that this prize is awarded on each spin.

You can think think of it like rolling a die: even though the probability of rolling a '6' is 1/6, rolling the die six times does not guarantee you will roll a '6' exactly once.

Other important considerations for prizing logic:

Beyond the prizing probability, Daily Win Limit and Lifetime Win Limits are other important configuration elements.

Win Limits: Limit the number of prizes given out based on daily limits, or total lifetime limits.

Daily Win Limit: Limits the number of times a prize can be awarded based on a given calendar date. The “day” starts and ends based on the timezone that the campaign is configured in.
- If you are concerned about running out of prizes, set a daily win limit (based on how long your campaign is running for) to ensure prizes are distributed evenly across the entire duration of the campaign, rather than being exhausted on the first day.
Lifetime Win Limit: Limits the number of times a prize can be awarded, period.

Be aware that if your goal is to give out no prizing, you need to set all prizing probability to 0% instead of using win limits.

These win limits do not work retroactively (i.e. prizing is awarded in real-time, therefore you cannot retract any wins already given).

Prizing Codes: Set up multi-use or single-use prizing codes to manage redemption.

Single-Use Codes: Once a code is allocated to a fan, it cannot be given to another fan.
Multi-Use Codes: Multiple fans can be given the same code for redemption (i.e. a Discount Code)

How are Prizes Allocated?

When a fan enters one of these campaigns, they’re first prompted to fill in their credentials (First Name, Last Name, Email). This is the flow:

Fan clicks on a campaign → fan enters their email and other credentials → fan participates in the engagement → the Tradable Bits server receives the fan credentials → server retrieves list of all available prizes → server returns the prize a fan will win based on the prizing logic.

This setup means that there is no ability for fans to doctor or manipulate prizing.

If a prize has already reached its daily or lifetime limit, it does not appear as an available prize option.

The prize of one fan does not affect the probability of another fan’s prize, except in the case that they won the last remaining prize in a limited set.

What do Access Controls look like?

Each Tradable Bits account has the following admin access levels:

Full: has complete access to all components of the platform - including billing information
Editor: has complete access to all components of the platform except for the ability to edit account profile information
Analyst: read only access to all components of the platform except billing information
Legal: granted access to manage approval for campaigns with legal requirements
Custom: you can create custom roles and set read-only access for specific Tradable Bits business accounts, CRM & Sales and Ads Access.

This means you have the ability to limit user-access to a Tradable Bits business where you plan on running any probability-based campaign types to a specified few individuals.

What does Security Look Like?

There is no ability to manipulate how the prizes are awarded based on probability, and there is no ability for a Tradable Bits user to “select a winner” outright, however, we rely on the duty of authorized users to ensure that there is no human-manipulation occurring.

This occurs on 2 fronts:

Restricted database editing access on the Tradable Bits engineering team - only specific individuals have access, all of whom comply fully with a data and privacy security plan.
Authorized users for your Tradable Bits account. As mentioned above, you can set access controls for all users of your Tradable Bits account.

We are in the process of adding logging systems to these campaign types that help trace changes made to prizing entries so that edits made after the campaign has been launched are timestamped and attributed to a user.

If you have any more questions about setting up prize-based campaigns or how probability-based prizing works, please reach out to your Customer Success team or contact support@tradablebits.com