48hourslogo contest prize are divided into minimum($99), standard($148), and gold($198) levels. You can choose minimum prize level for simple logo requirement. But if you like to attract higher caliber designers, standard or gold prize level are more appropriate.
48hourslogo contest prize

Illustrative type of logos

If you logo design require drawing of a character or mascot, it is highly recommend that you select the standard or gold prize level for your contest.

How to increase my contest prize

During the open qualifying stage, click on the “Increase prize” link on your contest page and choose desired option. If you qualifying stage has already ended, click on the “re-list contest” link and you will also see the option to increase your prize.
Note: “Increase contest prize” option is only available for guaranteed contests with prepaid contest prize.