I have participated in a number of catch, photo, and release tournements. The competetiton was friendly and low key. Prizes were plaques or a small amount of cash or products like pliers or fly lines or sunglasses. All included a raffle that all entrants were entered in and a catered Bar-B-Que. Products for the raffle were donated by sponsors and were worth more than the prize payouts. So for example, a participant who scored no points in the competition might come away from the raffle with a fish graphic Abel reel or Sage Z-Axis rod or something. These events were a lot of fun.