The prizes/income are great, but the thrill of seeing your name there is better! Never give up, because the more you participate, the more chances there are for success. You won't get read just because you write. You must send it out there and let it have the opportunity to be seen. Lots of your work won't be successful, but some will. And it's the successes that count. No one is keeping a tally of near-misses or also-rans. They really shouldn't get you down. Log all the rejections, so that they can be re-marketed. But log the winning stuff too, so you can see at a glance how well you've done.
By the way, the £100-first-prize story I mentioned had been rejected three times before!