Earning Money Hosting Competitions?

[Missmandy01]

I'm wondering if anyone can point me in the direction of an explanation on how competitions work? I've combed through and can't seem to find them. I don't understand how you can earn a profit from hosting competitions, or ...anything about them.
Please, send help.

[h0rsey]

I'm wondering if anyone can point me in the direction of an explanation on how competitions work? I've combed through and can't seem to find them. I don't understand how you can earn a profit from hosting competitions, or ...anything about them.
Please, send help.

ok, so when you create comps you get 50% of the entry fees. So, lets say you had a competition with a purse of 100k. You'd want the entry fee to be at least half of the purse to make a profit. A competition is not judged until it has at least 5 entries. If the entry fee was, lets say 40k, for every person that enters you get 20k (you get half of the money spent on entry fees). There has to be at least 5 people in the competition, so the least amount of money you can get is 20 x 5, which is 100, in that case you would not make a profit, but you wouldn't loose money either (unless more than 5 people enter the comp). If the entry fee was 50k (half of the purse) you'd get 25k per person, 25 x 5 is 125, in which you would make a 25k profit. So, when hosting a competition I recommend that you have the entry fee at least half of the purse, in that way you will make a profit.
sorry if this confuses you, of course I love math

[RenegadePegasus]

I'm wondering if anyone can point me in the direction of an explanation on how competitions work? I've combed through and can't seem to find them. I don't understand how you can earn a profit from hosting competitions, or ...anything about them.
Please, send help.

ok, so when you create comps you get 50% of the entry fees. So, lets say you had a competition with a purse of 100k. You'd want the entry fee to be at least half of the purse to make a profit. A competition is not judged until it has at least 5 entries. If the entry fee was, lets say 40k, for every person that enters you get 20k (you get half of the money spent on entry fees). There has to be at least 5 people in the competition, so the least amount of money you can get is 20 x 5, which is 100, in that case you would not make a profit, but you wouldn't loose money either (unless more than 5 people enter the comp). If the entry fee was 50k (half of the purse) you'd get 25k per person, 25 x 5 is 125, in which you would make a 25k profit. So, when hosting a competition I recommend that you have the entry fee at least half of the purse, in that way you will make a profit.
sorry if this confuses you, of course I love math

Perfect

[Missmandy01]

Ok.... half the prize money. I think I got it... THANKS! <3