Inkitt’s platform is free to use. Authors upload their novels and those that prove most popular with readers win the competition.
The winners get a publishing deal. Their books are professionally edited and a cover is commissioned from a professional artist. The marketing team invest $6,000 into promotion with the aim of gathering enough sales to get into the top 100 on Amazon on launch day.
The the winner gets a 25% royalty.
Inkitt run contests regularly, sometimes as often as one a month.
Read more here: Inkitt website