There are obligations that come with winning a major prize and most of the people have never thought of them. There are tax considerations when huge prizes are involved, in the U.S., all prizes in excess of 600 USD are subject to taxation and all winners are sent 1099 forms to file their taxes.

Competitors usually have to fill in affidavits of eligibility, liability releases and publicity releases. These legal documents secure sponsors and winners. It is always good to know what is expected before you get in, as not to be caught unawares in the event that you win.

Certain prizes, particularly travel packages or big items will have extra expenses in terms of taxes or shipping or travel related expenses that are not offered by the prize. The information on the whole value and costs can enable winners to make wise judgments on taking prizes.
The more enjoyable and stress-free is the winning, which only comes with being prepared to the process.