Well, in Singapore, you'll probably just team up with a charity of your choice and then run the event. That removes any legal obstacles. I think it's the same in aussie. For your prize pool, you can just approach a previous sponsor that supports your charity (the prizes won't be that big) so those that join can have the freedom to give as they please. Also you can have strategy workshops, spectator are, a beginner's centre etc... if it's an online thing then donations would be made through paypal and your sponsor would be providing bandwidth and hosting (which costs nothing to them).
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