Golf Tournament offer from Boyd

I have gotten monthly offers from Boyd in my regular flyer about golf tournaments before. There is money involved. Sometimes they say it cost $400 or something to enter but you get a "chance to win your share of $30,000" (based on 300 entrants.) There are always banquets involved, prizes, etc.

Has anyone every participate in one of these? I am wondering how they are structured and if they are worth doing. The fine print always says "proof of verifiable handicap required." I would assume that there are accomplished sand baggers in an event like this that might put me off from participating.