What terms and conditions, coach? You pay a small fee, or not, you handicap games, you win or lose.
Some years I paid $500 to enter, some years I paid $300, some years I paid $200, some years I paid nothing because the contest fees were sponsored by somebody. The amounts aren't very much, and frankly I do not remember which years I paid what, other than I paid $500 the early years and $200 or $300 last year. My best guess is the copy you read was used for several years and that the actual sponsored years of the contest were a number of years before that.
I derive no income from the Wise Guys Contest unless I win something, if that's what you're asking.