Not to be overly cynical, but the term 'best' depends entirely on what you're writing and what you're after. The 'big' ones like the Bridport Prize or the Bath Novel Award get all the press, and they're fantastic for the prestige if you win, but the entry fees add up. I've wasted money on contests that promised exposure but just felt like cash grabs for the organizers.
What I've found more useful are the ones attached to specific genres or independent presses. Things like the Cheshire Prize for Literature if you're in the UK, or contests run by journals like 'Glimmer Train' (though they're on hiatus, similar ones pop up). They have smaller pools, so your work might actually get a closer read. The real prize is often publication and a bit of cash, which is more tangible for a debut than vague 'industry recognition.'
My advice is to skip the ones that charge fifty bucks and offer a trophy. Look for contests where the prize includes a publishing contract or agent introduction. That's the golden ticket when you're starting out.
I was just researching this because a friend asked, and honestly, the ones with the biggest numbers aren't always the most visible. The Reedsy platform runs a weekly contest with a $500 prize, which adds up if you're consistent, but the submission window is tight. For sheer scale, the Self-Published Science Fiction Competition used to have a $10,000 grand prize funded by sponsors, though I think the structure changed recently. A lot of the 'big money' contests seem to be tied to specific genres or very niche themes from private foundations, which can feel a bit like winning the lottery.
What surprised me was discovering some university-affiliated short story contests for 'emerging writers' that offer upwards of $2,500. They aren't advertised on mainstream writing sites, you have to dig through university English department pages. The catch is they often require the work to be unpublished anywhere, even on a personal blog, which is a huge commitment for a single piece. It makes you weigh whether locking a story away for a year for a chance at a prize is better than just publishing it serially online and building an audience. Still, for a clean, unpublished manuscript, those can be a decent shot.
Straight up—novels. I've noticed a sharp shift. Used to see flash fiction and short story calls everywhere, but the bigger contests with real prize money and agent eyes seem laser-focused on full-length manuscripts now. Historical fiction's having a huge moment, maybe because readers want that deep-dive escape? Also spotted a weird niche surge in 'climate fiction' and 'solarpunk' categories. Feels like the market's pushing for either big, immersive commercial projects or stuff that tackles the zeitgeist head-on.
Might be publisher-driven. They want contest winners they can actually sell, not just beautiful prose pieces. Saw a call for 'upmarket book club fiction' specifically—that hybrid literary/commercial sweet spot. Kinda makes sense, but I miss the wild experimental stuff winning. Everything feels very... polished and packageable this year.