The MAG Poetry Prize 2009

This is an interesting poetry competition especially as it's being judged by the entrants themselves in what appears to be a reasonably well thought out method. This is from their website:

The MAG Poetry Prize 2009 - An Open Online Poetry Competition

Innovative, exciting, challenging and democratic – the greatest ever online poetry competition.
Prize fund accumulates @ £2.00 per entry (up to £10,000 maximum). 1st Prize - 50%, 2nd Prize - 25%, 3rd Prize - 15%, 4th Prize - 10%.

Poetry Competition Rules

We have no appointed judges – the entrants judge the competition themselves. It’s a knockout system in three rounds (see Poetry Competition Rules for details) – but beware, if you don’t participate in the judging, you will be knocked out yourself! In each round the entrants read 12 poems. In the final round everyone reads the last 12. The judging will take place in the 2 months following closure of the competition.

Any subject. Style: Poetry or Prose Poetry. Maximum 42 lines. £6 per entry.

All profits from the poetry competition will be donated to MAG (Mines Advisory Group).
MAG is a neutral and impartial humanitarian organisation that clears the remnants of conflict for the benefit of communities worldwide. Our target is to get 1,500 entries in the first year.

Closing Date: 30th April 2009

I have entered a poem more to see how the whole thing operates than with a hope of a prize. You can actrually read random entries on the homepage. Will keep you posted.