Hole In One Contests: Here’s How It Really Works

Sunday, December 22, 2019

Hole In One contests brings many questions to the surface. You may have wondered, how are golfers even able to make a hole in one. Or how are tournaments able to give away huge prize amounts for their winners? These questions are common but commonly misunderstood. So we want to break down how a hole in one contest really works so there is no confusion. By understanding how it works, you can have a better understanding of how you can use this popular contest to work for your advantage during your next tournament.

What Is A Hole In One Contest?

Hole in one contest is usually held during golf tournaments as an additional contest. The contest is featured with a big prize to build excitement for golfers to participate or to gain profits. The tournament organizer uses prize insurance to cover the expense of the prize if a lucky golfer happens to make an ace.

Contest Prizes

Your hole in one coverage provider assumes the risk associated with offering a valuable prize at the hole in one contest in return for a modest fee. This gives you more flexibility when it comes to selecting a prize. Typical prizes include the obvious like cash, cars, and trips. Some contests give away boats or even college tuition. It all depends on your tournament and it’s the theme. For charity events, they may choose to do a 50/50 cash split where half of the money goes to the winner and the other half to the designated charity. 

With US Hole In One, the only limitations to follow when selecting a grand prize are that it must have an actual, known dollar value and its value cannot be greater than $1,000,000. Otherwise, the choice is all yours!

The Set-Up Process

Before you get started with setting up a hole in one contest, it’s best to speak to your coverage provider to make sure you understand the process. By the end of our conversation, you can also have an exact price quote and an application for your contest.

To calculate a price for your hole in one package, please be prepared to provide these three standard pieces of information:

  1. The Number of Golfers
  2. The Distance of the Par 3 Hole
  3. The Value of the Hole in One Prize.

You then fill out an application and wait for processing and confirmation.

How Much Does It Typically Cost?

With US Hole In One, our prize packages can cost anywhere from $180 and up. 

What’s Included?

Some coverage providers like US Hole In One will include free signage to go with your hole in one contest. No need to go to a local print shop to supply signage. 

Marketing A Hole In One Contest

Now that your contest is set up now what? You are probably wondering how you get golfers interested in registering for your tournament. The reason why Hole In One Contests is so popular is that they promote themself. If you hold a contest with a huge prize like $50,000 cash or a sports car, golfers tend to be interested instantly.

During The Hole In One Contest

While the hole in one contest is occurring you want to do a few things to make sure your event is properly following your insurer’s guidelines. 

First and foremost, make sure that the contest signage is placed at the appropriate hole(s). 

Secondly, make sure that all of your golfers are covered. If you end up having more participants than you purchased coverage for, you must let your insurance provider know. They can typically adjust your coverage all the way up until the first tee shot is struck.

What If I Get A Winner?

If you have a winner for any of your contests, you must notify your insurer. They can then issue the appropriate paperwork. The prize is usually issued within approximately 3-4 weeks.

We hope this quick overview of a hole in one contest answers most of your questions. For additional questions, it’s best to give us a call (888-882-5440). We can help you through the process of purchasing hole in one insurance. 

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