That's great about 2nd and third prizes , I wonder could it be set up so that 2nd and 3rd place get some kind of "free entry credit" instead of automatic entry into next round, I mean so that it doesn't need to be used on the very next round, cos top players might want to take a break in between rounds. 
Sure!
2nd and 3rd place winner will receive a voucher to use in future rounds.
How to use it?
It's easy. Before you pay, you will see that you have a round voucher here. Click on that and you are ready to play.
Enjoy!
That's great, nice one!