IDO on ByBit... is it worth it?

I have just made my first attempt at being part of an IDO on ByBit. The requirement is that you have a Web3 wallet on the platform and a wallet with 300 USDT plus some more to pay for gas fees on the blockchain. Now, my first attempt was to join an IDO in which there was only 500 winners, and more than 50,000 participants (or tickets). What does that mean? There is a 1% chance that I would be selected in the lottery. Of course, if I am selected, then the normal return is about 8x the value of what you pay for the tokens... so then it is great.

But, is it worth it? Well... if we imagine that there are 50 annual IDOs on ByBit and you join each and every one of them, then it will take two years before you should with win with a 1% chance at every attempt. Of course, life doesn't always follow math with so few attempts, so not necessarily. But, if you win the lottery once in two years and you get an 8x return on your investment (you only get to spend 100 USDT per ticket), that means your 100 USD will turn into about 800 USD. In other words, your original investment of 300 USDT, has become 1000 USDT, and that means the value has gone more than 3x in two years.

That isn't bad, is it? Of course, you don't get rich in this way, unless you win every time. It is possible to increase your chance by being an active trader on ByBit and by referring new users. This will give you additional tickets and increase your chance of winning. In other words, with some work, you might operate with a higher percentage chance of winning.

All in all, math is interesting, and if you win once in two years, then you have still experienced a very good APR.

Have you tried to join one of the IDOs on ByBit? What was your experience?