Forum Contests Not Working Anymore?

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I'm a member of a promotion forum and I've noticed recently that a lot of the competitions being hosted on some of the forums being promoted there just aren't doing as well nowadays. Even with cash prizes or giftcards, most of the times, the number of entrants are very low. This could be due to the fact that for a lot of these contests, too much effort or time need to be put in. Do you agree with this?