Should do it the way Waivers were done in the old CBA, if it's used, you fall to the bottom of the list.
Since only non playoff teams are eligible for the draft lottery, if you pick first overall, and finish outside the playoffs again the following season, your lottery odds fall to the bottom, no matter the final standings. you can extend this for multiple years to even the odds further, use 3 years as an example.
Take last years draft for example, the lottery broke down like this:
1st - 25.0% - Florida Panthers
2nd - 18.8% - Colorado Avalanche
3rd - 14.2% - Tampa Bay Lightning
4th - 10.7% - Nashville Predators
5th - 8.1% - Carolina Hurricanes
6th - 6.2% - Calgary Flames
7th - 4.7% - Edmonton Oilers
8th - 3.6% - Buffalo Sabres
9th - 2.7% - New Jersey Devils
10th - 2.1% - Dallas Stars
11th - 1.5% - Philadelphia Flyers
12th - 1.1% - Phoenix Coyotes
13th - 0.8% - Winnipeg Jets
14th - 0.5% - Columbus Blue Jackets
Colorado won it, if they miss the playoffs again this year, they automatically get slotted at 14 - 0.5%, and can only move up 1 slot the next 3 seasons, assuming they are bumped by the next team to draft first overall. So they are not eligible for a top 10 pick for the next 3 seasons. Unless they obtain one via trade.
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