What is "prize level"?

[timmac10]

I was wondering what the prize level amount under everyone's username represents. Does it mean new users like me are not eligible for prizes in Bettor's World contests? I have been trying to find out information on this but couldn't. Thanks for any info.

[Jeff]

The prize level increases as you post.......

From time to time we have contests where the prize is your "prize level".

[timmac10]

Thanks for the Information Jeff!