I agree - I got great value for a $350 logo contest.
The two designers whose logos I liked the best participate in many contests at once and win about 10% of the ones they enter. They must look at the prize money and divide by 10 for their expected payout and then know how much time to put into each contest.
The two designers whose logos I liked the best participate in many contests at once and win about 10% of the ones they enter. They must look at the prize money and divide by 10 for their expected payout and then know how much time to put into each contest.