I'm going to put this into an Excel sheet, but I don't need the answer in Excel format, so it fits in this topic

I'm good in math, but for some reason this formula is evading me.

If there are three contests, how would I figure out which one would give me the best "Bang for my buck"? More specifically, assuming the only variables are the number of entries, the entry fee, and the grand prize, where would I be best putting my money?

So let's assume the following:

Contest A -- 1,000 entrants, $.25 entry fee, Top Prize = $500

Contest B -- 800 entrants, $.50 entry fee, Top Prize = $500

Contest C -- 500 entrants, $1.00 entry fee, Top Prize = $750

It's easy to calculate the odds of winning (1 out of X entrants), or in the case of Contest A, 0.1%. I just want to figure out if I'm going to wager $5, would I be better off with 20 entries into "A", 10 entries into "B", or 5 entries into "C"? It's driving me batty that the gerbils in my head can't figure this out!

Thanks a bunch!

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