Years ago, I used to run something similar at Sunnybrook, except that we guaranteed at least a $500 payout no matter how little the turnout was, with the winner getting a minimum of $225.....with some weeks as high as $500. Entry fee was $25.
Would love to do something this again someday, I enjoy running it even though my two partners were two royal idiots that ran the thing into the ground (you don't handicap from 70% from 200, among other things) six months after I left in disgust. Which is too bad because Randy Shank did everything to get at least get us going.
"Pretty women make us buy beer, ugly women make us drink beer"