The OP may be right in theory: If someone ws just trying to decide whether to play your tournament or stay home, offering a hole-in-one bonus might not have eno

The OP may be right in theory: If someone ws just trying to decide whether to play your tournament or stay home, offering a hole-in-one bonus might not have enough of an effect to justify the expense. But in practice, there might be a dozen charity tournaments in the same region as your tournament, and if ten of them offer hole-in-one money, you might be in a race-to-the-bottom to get players to play yours and not one of the others. That’s no different than any other competitive pressure, like whether you offer free valet parking for a restaurant. In theory, it might not pay. In practice, it might be necessary to compete.