This help guide will walk you through frequently asked questions on our campaigns with probability-based pricing, how they work, and key considerations around access and security.
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, whomever 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 1: You have 3 prizes. You set the award probability to be 33% for all of the prizes - which means that each fan that plays has roughly a 1/3 chance of winning any of the same prizes.
Example 2: You have 5 prizes. You set the award probability to be 33% for all of them. This would mean that the real percentage of winning any of those prizes would be 20% --> [33/165*100]
These parameters provide the weighted likelihood that a user would see each prize. The awarding is still probability-based (i.e. a prize set to a 10% chance of winning would not mean that it is awarded 1 out of every 10 spins, it is just a 10% chance that this prize is awarded on each spin). You can think of it like a game of Heads or Tails. Just because you flip the coin twice does not mean that you will get one Heads and one Tails even though the probability is 50/50.
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.
- 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