The number of participants is huge, though. I've looked through the submitted numbers and then picked "998" because it looked like nobody has picked it, and now I hope that among 627 entries I will be the luckiest one. What are the odds? But anyway your chances are zero if you don't participate.
The number of participants might not be as huge as you think because most of those entries are probably bots/multi-accounts belonging to several people which is a common practice in X these days sadly.
This is why I prefer sticking to our forum contests where everything is 100% fair in comparison.
sometimes the contests and raffles on some websites is also provably fair in a verifiable manner
but on social media it's harder, easier to fake, usually done just to farm engagement
I prefer not joining on social media.