The entry fee was £50, which gives the event its name. Primarily because of the size of the venue, but also because of potential time constraints, entrants were limited to 32 in number.
The stake money for the most recent event was divided thus:
Main flight first prize | £700 |
Main flight runner-up prize | £300 |
Progressive Consolation flight first prize | £200 |
Progressive Consolation flight runner-up prize | £100 |
Progressive Last Chance flight first prize | £100 |
Progressive Last Chance flight runner-up prize | £50 |
Buffet (in two phases) | £150 |
TOTAL STAKE MONEY | £1,600 |
The format of the most recent competition, was as follows:
MAIN FLIGHT | All rounds | 11 points |
PROGRESSIVE CONSOLATION | All rounds | 7 points |
PROGRESSIVE LAST CHANCE | All rounds | 5 points |
LUCKY LOSERS 1-POINT SHOOT-OUT (Losers from first three rounds of PLC play off for re-entry into quarter-finals of PLC) | All rounds | 1 point |