Internationally acclaimed mystery writer Louise Penny was “turned down more often than I care to remember” before placing in Debut Dagger, a contest held by the UK’s Crime Writers’ Association. “I cannot overstate the importance that award has had on my career,” she writes on her website.

Given this and other success stories, it’s no wonder that writing contests are an attractive option for writers who have yet to break into the industry. But are they worth the investment, both financial and emotional? Yes—if the contest is legitimate and the prize offers value to the writer.