What is a Money Prize?

Money Prize is a monetary award paid under prize law by a belligerent state to the crew of a ship of its navy or a privateer vessel commissioned by it. The prize was most frequently awarded for the capture of enemy ships or cargoes in time of war, but also could be earned by the sinking of an enemy ship. Prizes were distributed in accordance with the prize laws of the capturing state, but the allocation of prizes often had to be resolved by a court before payment could be made.

In general, two-eighths of the prize money went to the captain 피망머니상 or commander of the captured ship (generally propelling him upward in social and financial circles), one eighth was given to the admiral or commanding officer of the fleet or squadron, and the remaining one-twentieth was divided among the lieutenants, sailing master, and captain of marines. In the heyday of prize warfare in the Napoleonic Wars, this system often resulted in enormous amounts of wealth accruing to naval personnel.

Similarly, the organizers of a tennis tournament establish how much a player will make before the tournament begins. This includes the champion, runner-up, semi-finalists and other players who make it to the finals. Players are paid according to their performance, and the top participants usually earn a lot more than those who lose in the first round.

A number of different schemes for distributing prize money exist, and not all are equally fair or efficient. For example, in some tournaments, the top finisher receives 50% of the total prize money. The second place finisher will get 25% of the total prize money, and so on. This method is often not as popular as the other options, but it can be more effective at getting people to participate in the tournament.

If someone tells you that you must pay “taxes,” “shipping and handling charges” or any other fees to claim a prize, you are likely dealing with a scammer. Real prizes are free, and the government will never call you to demand a fee in order to award you a prize.

If you receive a prize that you believe to be a scam, contact the National Consumer Helpline on 1800 595 160 or visit their website. If you’ve lost money or other personal information in a scam, contact IDCARE, Australia and New Zealand’s national identity and cyber support service, to make a plan for limiting the damage. You can also use a free service from the Australian Competition and Consumer Commission, which will provide you with advice and help to resolve your issue. The service is available for all Australians and New Zealanders.