You can read the FAQ on the website but what happens is when you draw your points go to 0. If you do not draw you get one prefference point. They square your preference points and that is how many names you have in the drawing. I have 9 points so i have 81 names in the drawing.

Now what i understand is they take all your names and attach a number to the name, the lowest number wins. If one of your names has #000000001 you are the winner. And so on. It matters not if you draw for first, second, third, or fourth hunt you lose all preference points if you draw.