Earlier today @Diablo replied to a fan’s cryptic tweet about Magic Find in groups in Diablo 3. They only make sense when you read other tweets on this subject from last week. Here’s the full sequence starting with two tweets from September 3rd.
Individual loot drops – is the likelihood of rare item drops equal for each player in the game? Or might only 1 player get one?—NeedMoreGames
Loot drops are rolled on a per-player basis. You may get an awesome item while I get nothing. Magic find is also per-player.—Diablo
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