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Originally Posted by Klew1986
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That's not a very weighted system. The NBA did it that way originally, but subsequently changed so that the worst team has a specified best chance in the lottery (25%), the second-to-worst team the next best specified chance in the lottery (19.9%), and so on. The non-playoff qualifier with the best record has just a 0.5% chance of winning the lottery.
See the Wikipedia entry on the NBA draft lottery.
For what it's worth, MLB's draft lottery apparently uses a system where each qualifying team's record is raised to the fifth power, the values summed, and then each club's fifth power record divided by that sum to arrive at its chances of winning the Competitive Balance Lottery first pick.