general question about Tournament worth 500$

hi,
i have a forum and my forums is like a Mixture of Both FUN and Post.

in my forums i am hosting many small Contests

i was hoping .

if i make a Contest worth 500$ with a small entry fee 5$ ,10$ . will people Pllay

Good day

 

i wouldnt pay to join a contest but if you had Win 5$ or Win 10$ contest that required no Fees mouth of word would get your site alot more hits... just my 0.1 cent

 

Depends if you have alot of forum posters if the webmaster at DP did one, alot of people would enter