^The pet is unlimited (says so when you click "Redeem prize") and it comes with 500 Milks.
Also you can only have 3 wins total against the same person. Hence this rule:
In 1 vs 1 PVP, if playing against the same user, a maximum of 3 wins can be achieved.
Unless that's only talking about the same user in a row... which can be a loophole o_O.
I hope we can choose every prize once we get enough wins and the count doesn't restart.