Hi, can you please explain to me what does the phrase "a $200 added event" (or any amount) mean?

The term relates to the amount of money being added to first prize in a tournament.  So if the players pay their entry fee, the tournament keeps some of the money and somewhere in the area of 60%-80% of the money is paid back to the players.   The event sponsor then "adds" more money for the first place finisher.
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