If I may ask you which do you think is better: more winners with smaller prizes divided, or just 5 winners but with bigger prizes (assuming the prize pool stays the same 500$)?
5 winners but with bigger prize.
Just based on my two cent, If the prize was to small even the rank we up ended on top 1-3. It's not gonna to cover the cost we are spending for chasing high multiplier, If want to do some small or more place. Perhaps add rules without limits of base bets.
Meaning, all bet size are accepted. Let be honest, everyone want to participated on contest and tournament is always rooting the money they're spend getting covered + profits or pure all profits from the contest/tournament.