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Yes, that's competitive gambling. As long as that gambler is keep on gambling he has one aim and that is to win the contest.
Regardless of the amount that he will lose as he goes on his way to the top list, he has dedicated himself to win the prize.
Eager to be listed at the topest on the list is truly good but gamblers should think also that they would not came to the point that they lose huge money from it before reaching to that level, its bit ironic but seems many people do plays and target to get the best spot, but anyways for those low rollers like me just play what you can afford to lose and play with doubts, wagered prizes is just for people who have large bankrolls.