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Just saw this on the steam forums, easily the most detailed and accurate statistics on item drop rates we have.
Conclusion:
Hat Chance Over Time:
http://forums.steampowered.com/forums/showthread.php?t=883145
These stats are gathered out of ~2600 players and more than 37100 item drops.
Conclusion:
Drop rate:>All non hat items have the same drop chance ~5.5%
>Each individual hat has a 0.05% chance to drop.
>All hats together have a (9 hats a 0.05% = ) 0.45% drop chance.
>Means: Every 222nd drop is a hat.
About a 1/4th chance every 25 minutes. And yes, this means the average player will get one hat about every 2 weeks [of play time].
Hat Chance Over Time:
Code:
[SIZE="3"]Hours ____ Chance you have gotten at least 1 Hat
100 _____ ~24%
200 _____ ~42%
300 _____ ~56%
400 _____ ~66%
500 _____ ~74%
600 _____ ~80%
700 _____ ~85%
800 _____ ~89%
900 _____ ~91%
1000 _____ ~93%[/SIZE]
http://forums.steampowered.com/forums/showthread.php?t=883145