Posted: 24/10/2014 at 15:58
I think: one individual prize and one team prize is enough. As Dean says, vet prizes are there so that people who don't run fast enough any more to be competitive for the open prizes can still compete. If they do run fast enough to win the open prizes, they don't need a prize for still being fast as a vet.
The strangest age group prize I've seen recently was when it was one individual prize per person, but as well as the usual vet categories, the race also awarded prizes for first male and female senior! As most of the fast seniors were likely to place in the overall top three, and many of the fast vets were faster than the fourth senior, the people winning those prizes ended up being well down the field.