Are Crowdsourced Contest Sites Worth It?

Crowdsourced contest sites like Prizes.org are really in right now. The concept is pretty simple — if you know how contests work, you know how it works. Users are allowed to submit contests for a cash prize. Then, everyone gets a shot at the money. Most of the time the contests are for things like naming a business, designing a logo, and sometimes even for small things like giving advice or a review on something. The contest creator gets to pick the winner at the end, and if that’s you, you can win the money.

Is this worth it?

A lot of people don’t think these sites are worth bothering with because if you don’t win, you’ve wasted your time. And time is money. To me, that does make sense but another way of looking at it is, if you don’t try, you can’t win. If you’re good at something like picking out names, designing logos, or whatever else is being asked of you to enter the contest and you know that you stand a good chance of winning, I think it could be worth spending the time. For example, I entered one a few months ago where someone needed to know how to work from home. I know of a lot of different work at home companies, so I entered and offered my advice. I won the contest! It was just $25, but that was $25 I didn’t have before.
Ultimately, you’ll have to decide if it’s worth bothering with. I definitely wouldn’t recommend trying to make something like this your job, but I think it wouldn’t hurt to do occasionally just for fun in case you did win.

Where can you sign up for crowdsourced contest sites?

There are a quite a few of these. Here’s a list for you to get started:

• Idea Bounty
• Bounty It
• Naming Force
• Squad Help
• Picky Domains
• Crowdspring

So tell me what you think. Is this a worthwhile way to spend your time? Have you ever had any luck with crowdsourcing contest sites? Got any other links to share for sites that are similar?

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