@LostinSpace
What we always did -
@Guinness and I - was to have a 1,2,3,4 and a Wooden Spoon, obviously, a Charity is taking the Wooden Spoon money this year.
To keep things simple and to include 1 extra winner, I suggest this as a better option. Speaking from about 30 years experience of running these things at work and latterly on here for at least a decade / 15 years.
Change your 1) £120 2) £60 3) £30 to this.
1) £100
2) £60
3) £25
4) £25
If there is a 3rd / 4th place PO, then I would then go 3) £35 4) £15. You'll need to find out if there is such a game.
Simple and easy to understand.