Fund-raisers and prize giveaways at sporting events attract people to "chase the pot of gold at the end of the rainbow." The sponsors need prize indemnification insurance for the winners of the $1 million prize. The coverage for large prizes is tailor-made and uses a basic inland marine policy. The pricing is based on the odds of winning the prize as the insurance company calculates them. Common examples of contests include hole-in-one, tagged fish, and record fish. Using the example of a charity-sponsored fishing event that uses a tagged fish, the underwriter considers the type of fish, the number of participants, where the event will be held, and the number of days the event will run. In prize insurance for sporting events, the important factor is the degree of difficulty involved. Large prizes are usually insured on the basis of an annuity.