Beating your friends is the best feeling in the world that's why we have created Private Leagues. Just go to "competitions", "private leagues" and then decide if you want to create or join a league. You can alse set up friendly games with your friends whenever you want.
Yes, depending on the amount of players the pot will be bigger or smaller and if you finish in the top 3 you will get the prize.
When creating a private league the user can decide to set an entry fee or not.