Never heard of them, so I took a quick look. First, second, and third place winners receive $50, $40, and $30 US respectively, but writers retain the rights to their work, and can make as many submissions as they wish, with no length requirement. It's another feather in your cap if you win, at the very least — to be sure.
Interesting. Maybe wait for the next one to give yourself more time to get more votes (I guess the earlier you submit, the more votes you will attract)
If you go for it, please let us know so that we can get together and vote you up.
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