You may buy multiple tickets - increasing your chances to be picked. Only one ticket is drawn, if you have two tickets (or more) in the pot your odds are better.

There were talks about baving other prizes for 2nd, 3rd place of donated chips and such. I don't know that any of that ever materalized though. I believe it was left at ONE prize of a Life membership- and if the winner ALREADY had a LM it could be given to a qualifying person (one eligable FOR LM).