Any writer who regularly sends out their work has no doubt come across a few contests along the way—and some of these don’t come cheap. The typical entry fee I see for contests is in the $10-$20 range, but I’ve seen entries as high as $50 a pop, and it’s fairly common for contests for book-length manuscripts to have entries of $25 higher.

This leads to the natural question: is it worth it? Sure, someone’s going to walk away with a pretty good payday—but that’s true of Powerball drawings, too, and no one’s ever said playing the lotto regularly is a smart financial decision.