Although I'm not participating but I think most members here cant afford to spend some money for this betting contest due to the minimum bet + minimum number of bets.
Perhaps this kind of sports betting contest should be done for longer time as well so participants may get more matches to bet, because some players may bet on their favorite sports only which may make them hard to meet the minimum number of bets in a week only.
It's freedom. The company launches a contest and users can read contest terms and reward, assess risk and benefit, and make their decisions with freedom, to joi it or not. It can be a dead contest if no user join it or too little users join it, and the company can assess result from a first contest to make adjustment for their next ones, with more or less, harder or easier terms.
Anway this is their first betting contest, so maybe they will see from the result of this first betting contest so they can consider what they need to do if they want to continue for the next betting contest.
Yes, there will be more contests and terms can be changed by the Betpanda team. They need time and contests to assess results and can improve many things in their contests.