I would ignore the letter just like I ignore all the Nigerian lottery emails.
Nobody gives that kind of money. You have to be super gullible not superrational to participate in such a game.
Assume you know with certainty the contest is real the money and giveaway are real and the terms of the contest will be honored. Its been in the news and the judges are third parties. Furthermore the letter can be verified to have come from the contest.
Obviously, no one would respond to a Nigerian lottery email that is not the point of this exercise.