Hole In One Contests Explained
Making a hole in one is tough. Really, really tough. According to Golf Digest, the odds of getting a hole in one are 2,500:1 for a pro golfer, and 12,500:1 for an amateur golfer.
That’s why so many golf tournaments will offer competitors the chance to participate in a hole in one contest. These are small in-tournament games or standalone events in which competitors can buy a limited amount of chances to make a hole in one on what’s usually a par three hole. If they do, they can win a fabulous prize. If no one manages to sink a hole in one, no one wins the prize.
For example, a golfer can purchase three chances for $50 a piece, and if they manage to land a hole in one on one of those chances, they can win a new car, a large cash sum, or whatever else the tournament organizers are offering.
In order to afford such an amazing prize, most tournament organizers will take out a contest insurance policy on their event. For a small premium, contest insurance allows organizers to the opportunity to offer a bigger golf prize than what they’d normally be able to afford. If no one manages to make a hole in one, no one wins the prize and the organizers simply pay the contest insurance provider the premium they’re owed.
If someone does somehow defy the odds, the contest insurance company will pay for the prize. The organizers won’t even have to pay a cent of it. This means that organizers can offer their participants the chance to win something like a $3,000 Hawaiian vacation for about $150.
If you’re thinking about organizing a hole in one contest, you should consider contacting hole in one insurance companies about a contest insurance policy. If you have any questions, feel free to ask in the comments. Learn more at this link: www.hiousa.com