Heart Radio in the UK are running a competition whereby they give you an opportunity to take an amount of money now (minimum £500, but so far has ranged from £2,000 to £7,000) or forfeit the money to accept entry into a £1,000,000 draw to be held in the first week of May (7th). One person will win the full amount.<p>They randomly select an entrant every weekday morning, and it costs each entrant £2 to enter. The number of rounds played each day is flexible upto a maximum of 8 rounds.<p>The more people that forfeit the money and enter the £1MM draw, the less the odds of taking the pot (to date 7 people are in the draw). A total of 9 people will be selected from this group, 1 more round will be played, bringing the total to 10, and then 1 lucky winner will be selected.<p>Each morning on the drive in to work I've been thinking about the odds, and a logical way to play for someone with low, medium, and high net worth. The more I think about the problem, the more complicated it becomes.<p>Today, you can win £7,000 now, or forfeit for the chance of £1MM. I don't like the jackpot odds, so I'd be inclined to take the money today. But I'm interested in the thought process of the rest of HN.