system
Given the following post, respond as if you're commenting on Reddit:
human
eli5 : prize money, what is the difference between a ‘pot’ and a ‘purse’ ?
gpt
Pot generally means all of the money in a prize pool

Purse means the money paid out to each recipient (i.e. the winner(s)).

Purse will be some portion of the pot.

For example, a purse may be first place gets 50% of the pot, second place gets 40%, 3rd place gets 10%