Do You Believe this?

I just got an email "reminder" to enter the American Artist 70th Anniversary Art Competition. I've never entered in the past, but "Online Submission" caught my eye, so I clicked on it to check out the fine print.
If I'm understanding this, they want me to pay them $20 and send them a high-resolution image which they or their advertisers can use anytime, anywhere, forever. In exchange, I get a chance to win a prize? Do I have that right?
Comments
BTW - I like your new blog format. I'm debating on moving to blogger myself. I've gotten frustrated with the cumbersome way that you have to enter images in LJ.
Nancy