When I first mentioned Gyutae’s crazy internet marketing contest I told you that the prize pool was worth $6,113.

The contest ends April 1st (no joke) at 9PM ET, and is now valued at an incredible $71,435!!

Of course, a lot of that is due to a 2008 Hummer H2 which Gyutae claims to have been added to the prize pool…

…but he posted that on April 1st, so you can be pretty sure that it’s a joke.

Even so, a contest worth $15,575 (with practically nothing out of his own pocket) is an incredible achievement.

Way to go Gyutae!

I have to tip my hat to Gyutae Park of Winning The Web, who has just created what is possibly the best contest ever.

There’s currently $6,113 in total prizes (and it may well go even higher before this thing is over), and a lot of it (over $1,500) is cold, hard cash!

Take a look at what you can win….

• $650 Cash from Azoogle Ads
• $500 Cash from PepperJam Network
• $250 Cash from NeverblueAds
• $200 Cash from BidVertiser
• 1 Full Conference Pass to Affiliate Summit East ($949 value)
• 3 Month Membership to Aaron Wall’s SEO Training Program ($300 value)
• 6 Month Membership to SEOmoz Pro ($249 value)
• 12 Month Subscription to RankSense Professional ($630 value)
• 26 Week Internet Marketing Plan from Purple Internet Marketing ($800 value)
• Autographed Copy of Kris’ Jones Upcoming Book on SEO ($20 value)
• Copy of the SEO Handbook 2008 from HuoMah ($10 value)
• 8 PSD Custom Banner Designs from Banners Mall ($275 value)
• 2 Exclusive Blog Themes from Unique Blog Designs (2 winners - $100 value each)
• 2 Revolution Wordpress Blog Themes from Brian Gardner (2 winners -$80 value each)
• 1 Year Swamp Plan Web Hosting from Host Gator ($150 value)
• 1 Hour Blog Optimization Consulting from Daniel Scocco of Daily Blog Tips ($175 value)
• 3 Month 125×125 Banner Ad on AndyBeard.eu ($100 value)
• 1 Month Text Link Ad on Ades Blog ($90 value)
• 1 Month 125×125 Banner Ad on John Cow ($125 value)
• 1 Paid Review on Winning the Web - sponsored by 1 Cool File ($100 value)
• 20 Winning the Web T-shirts (20 winners - $9 value each)

Crazy, right? Odds of winning depend on the number of entries that you get, so go read the post at Gyutae’s site for the full details and enter today!

Two weeks ago, I held a small contest.

All you had to do to enter was subscribe to my RSS feed by email.

The prize was 1,500 Entrecard credits, with everyone sharing equally in 1,000 credits and one lucky winner getting an additional 500.

The contest generated 17 RSS by email subscribers, to whom I just sent 58 Entrecards each.

To decide the winner of the 500, I went to this site and asked it to give me 1 random number between 1 and 17. The result was “3″, so I picked the third email address on the list and sent that person an extra 500 Entrecards (for a total of 558).

Breakdown Of The Results

For 1,500 Entrecard credits I gained 17 new RSS subscribers. That’s a cost of 88 credits per subscriber. Considering the recent sale of 10,000 Entrecard credits for $61 on eBay, it works out to 54 cents per new subscriber. I’d call this contest a winner!

Want to run the same contest? Go over to PowerDropping.com and you’ll have 1,500 new Entrecard credits in just 5 days!

Thanks to everybody who participated. Try not to spend your credits all in one place