I think the odds are as such:
(300-1) to the 12th power = 0.960725246
300
1-0.960725246 = .03927 or 3.93% numberically - it's 11.79 out of 300, nearly 12 in 300
It you were to remove each ticket drawn, the num and den of the fraction would decrease by 1 each time. If you had two tickets, it would be 300-2. Basically, this formula calculates the risk of losing and subtracts it from 100% for the win percentage
(300-1) to the 12th power = 0.960725246
300
1-0.960725246 = .03927 or 3.93% numberically - it's 11.79 out of 300, nearly 12 in 300
It you were to remove each ticket drawn, the num and den of the fraction would decrease by 1 each time. If you had two tickets, it would be 300-2. Basically, this formula calculates the risk of losing and subtracts it from 100% for the win percentage