What prices are suitable for a chess competition?

Question

ok... i don't play chess, but i want to organize a chess competition and i need ideas on what prices (1st price, 2nd price, 3rd price, consolation prices, etc) would be suitable for this... any ideas? chess players?

Answer 1

Depends, you sound really excited about doing this, however the prize money for competitions vary.

Is it open to all skill levels?

--If so, you don't want the prize money to be too high, as really skilled chess players will only go to events that or NM, IM--GM only (very high skill levels).

What type of tournament style will it be? How Much time constraints? Will it be a Swiss system? Will there be a main table? Will it be publicized (i.e. ChessLife, Chessbase)

-- The more organized/lengthy the tournament is, the bigger the prize money should be.

Will the tournaments be Ranked ?(http://main.uschess.org/content/blogsect...

--If so there are certain rules about prizes that you must adhere to.

Is there going to be an entry fee?

--Entry fees bring you better players and allow you to increase your prize money.

Coming from how you sound though, you probably are thinking of an unranked medium size tournament. I would probably make the prizes like:

With $5 entry fee:

1st: $170

2nd:$90

3rd: $45

Consulation: Top 10 get their money back, every1 gets T-Shirt

Without entry fee:

1st: $25 gift card

2nd: $15 gift card

3rd: $5 gift card

Consolation: T shirt

            or

1st: Consumer Electronic

2nd: Chess Set

3rd: T shirt

Answer 2

First: $300, runners, and chess-board (worth at least $200) with complete set of pieces

Second: $150, and trainers

Third: $75, and mug

Optional consolation prizes: helium-inflated baloon

                                                 and  

                                                 chocolate muffin

                                                 or

                                                 hot-chocolate

                                                 or

                                                 "World's Best Chess Player" T-shirt (individual prize)

Answer 3

check with the U.S. Chess Federation, or look at Chess Life to get an idea how much is payed out in other tourneys.  Most of it depends on the level of competition and the fee of high-priced talent.

Earf!