This is one of the craziest sports betting and sports ideas I have ever seen. My brain refuses to call it a sport. It is most likely some form of pornography. Apparently, the pornography companies' incomes have started to decline and they are coming up with some eccentric things to stimulate viewer interest. There will be little in the way of sports as such. It is more like a pornographic show. It is unlikely that anyone will bet on this, except for fun. And the possibilities for fraud are limitless.
It is not a sport like you said but a pornography competition and I don't know why anyone will come up with giving price to the best in sex when this should be done between only the two partners involved. I see it demonic and a means to make people feel it is normal. Only porn stars will partake in this competition and I will not bet on such.