Generate Excitement With Great Prizes

Imagine for a moment, standing at hole nine: trees to the left, a sand trap on the right approach and water directly to the right. Its a par 3. A driver and then a wedge can get you on the green in two shots. Putt the hole in one shotyou are on par.

Now imagine the same hole, nine: you take a driver and crush the ball, driving it 278 yards, and it drops in: a hole in one. If such a feat was rewarded with a million dollars, your excitement might be unbridled to say the least.

Each year corporations, charities and national golfing championships offer a million dollar hole in one contest. But these tournaments do not collect entry fees just so they can cover the potential prizes. Rather, tournament organizers purchase hole in one insurance. The cost of such insurance can be less than $110 per holea small amount compared to the potential payout. In the event a player makes the shot on one of the designated course holes, the insurance company pays out the prize, not the tournament organizers.

For the players, such a prize can attract a lot of interest. The event organizers pay very little to cover the contests exposure in the event of a hit, while offering an exciting chance to win for players. The hole-in-one insurance company takes all of the risk since the odds are low that a golfer will make the shot. Still, the number of tournaments that offer such prizes is relatively significant, over 100,000 in which players actually do win. In fact, insurance agencies do pay out large sums of money. One insurers payout figures estimate $50,000,000.

Generating excitement comes from offering large prizes for players, and hole-in-one insurance is the way to make these prizes possible.