I agree with most of what has been said.
In South Africa they have a system where, under correction, 35 or 40% of the entrance fees for a, in their case, Nationals gets returned to the shooter in the form of medals, trophies and awards.
We here in Namibia also only give trophies to the winners in divisions and some other stuff and medals to the first three in classification and some other stuff.
Yes, we don't have money to award and have zero sponsors, but I doubt that we would have a big prize tables if that were different. Prizes, etc would remain more a of a token, recognition or acknowledgement of performance than a "lottery" sized prize. As it is now, the floating trophies and other award act as a big incentives to work toward "your name on that trophy with shooter x, y and z". And the new guys work extremely hard for the "Best Improvement" Trophy (yes, we are small enough to do stuff like that...).
Bottom line, AWARD anything you want to the person who EARNED it, but don't turn the award into a goal. Keep it rather as recognition of the goals achieved.
My N$0.02 (divide by ±6 for the US equivalent and by ±8.5 for the Euro equivalent)