You are just a brand new account, asking people to send you BTC in the promise of more BTC.
Happens here all the time. It would help if you would identify a trusted escrow and send the prize money there.
It's nothing like that buddy, i'm not asking people to send me anything, i'm simply asking for people opinions and advise on whether something like that could work. I'm in no way saying I want people to send me anything. As mentioned in the post, I wouldn't know where to start with implementing something like this so I'm simply looking for some advise on whether it's possible or not.