Straight from the horses mouth:
While we are conducting a 1 vs 100 US/Canada Beta Sweepstakes, please know that we are not awarding prizes as indicated during the game!
The reason we’re displaying the prizing indicators is that we need to be certain that the prizing components of the game actually work as designed. If we had [...]
Once logged into Xbox Live you need to make your way to the PrimeTime channel which can usually be found under Games Marketplace or Spotlight sections. Once there, select the episode you are trying to play in (using A). You then get a menu apear where you can set a reminder about when the game [...]
Players are selected to be moved from the crowd into the show based on one weeks worth of your player statistics. The stats this is based on is how fast you have answered questions, how many questions you have answered & how many questions have been answered correctly. A player is only allowed to be [...]
The 1 VS 100 team occasionally put together Extended play episodes based on questions submitted by the community. To submit your own question for inclusion in one of these shows go to this page on the official site. You need to be signed in with your Windows Live id in order to access the form.
The full FAQ for 1 vs 100 can be found on the official site here.
The FAQ covers specific information on:
US/Canadian Beta
Game details
Extended play
Prizing
Achievements
Amping (in game gestures)
Joining a game already in progress
Scoring issues
Parental controls
Privacy settings