Monetary prize
A monetary prize is money that is given to teams and players for their performance. Such prizes are largely the domain of "bad quizbowl" competitions, which often have higher rates which allow them to use the possibility of material compensation to draw in teams and distract from factors like low question quality. "Good quizbowl" competitions rarely give money as a prize due to a combination of different priorities and a lack of money in the ecosystem - at local events, the standard is to award book prizes and trophies.
Aside from personal checks written out to team members, other prizes could include scholarship money or contribution to charity or scholarship funds.
Some competitions that have awarded/currently award monetary prizes include, but are not limited to: