Sure. At least that's my understanding - someone who arrives near the end of the hour gets a chance at it no matter how many times others have defeated it.
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I thought I saw a ytube video when the trainer joined with only minutes left on the timer and was still able to battle the boss with his friend.
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You have a chance, but the people who beat it can't help you anymore...even if they want to pay again to help...
This makes arriving late to tier 4 raids harder if everyone earlier beat it already.
