What Are They, Really?

Writing competitions, I mean.  Waste of time if you enter or wasted chance if you don't?

I entered one YA piece into the WD YA competition last week.  I was not particularly in love with the story - of course I liked it, otherwise I would not have entered, but I feel like I almost can't find my voice when it comes to YA.  Anything I write and re-write ultimately ends up sounding too adult.  I start out well and then it all goes downhill.  But at least I am trying.

I am also going to enter a short story into the WD Short Short Story Competition.  This is a story I absolutely love; it is a stand alone chapter from my first novel.  My character is well developed and the voice is distinct. 

My question to you is - what do you think about writing competitions, especially ones we pay for (like WD)?  I browsed the WD boards where some opinions are less than gracious about these competitions (or the writers who enter them), spewing negativity thicker than rhyolitic lava.   Others seem to think they can help budding writers get practice and perhaps recognition.

I'd love recognition, sure, but the main reason I participate in these competitions is that a deadline keeps me on track.  I write even when there is no deadline, but if something is on the line, so to say, I make sure I find the time, even if it is at midnight or two in the morning and six-thirty is not too far off.  Perhaps if I did not work full time as an attorney, have a family, and keep a second blog, maybe I would not need extra prodding, but it is what it is.

So, what do you think about these competitions?