The company providing the prize will list the value as high as possible in order to take it as a tax deduction for a business expense. You are on the opposite end of the extreme, and want to adjust the to fair market value. There is also an element of fairness in entering for only those prizes that you want to win. Most contests will not give you an equivalent cash value anymore, and it's really not fair to the other contestants to receive a prize that you don't want or won't use. Experienced entrants know that they will be liable for taxes, so they only enter contests for trips that they want to take.
Trips also seem to have less of an appeal to people than cash.
If you know of any contest tips that should be listed here, please e-mail us. Although we are not responsible for the accuracy of the information on the links above, we are very concerned about providing you with information that is as accurate as possible. If you discover a link that is no longer active, or facts that appear wrong to you, please contact us. Copyright 2000 - Gary and Aaron Jacobs. All rights reserved.