How will you prevent cheaters? There will be a lot of fake accounts in there

There are IP restrictions, we use Browser Footprinting and behavioral recognition systems

Everything in place so a fake Account will never get the price.

You now these prints can easily be deleted by the cheater, changing IP, cleaning the cache, typical things. You have to work harder on this.
Of course we know this can be done. In order to really make sure, multi-accounts are not possible we'd need a fully fledged KYC (know your customer) procedure. No worries, this will be implemented for the real-money games.