Each month, Canvoo and Fine Art Studio Online have a painting competition called the BoldBrush Painting Contest. If you are a FASO Gold Member, you can enter one painting each month for free. Additional entries cost $14 each and it's the same for non-members. The award packages are awesome!
1st Place - $2500 Award Package
2nd Place - $1180 Award Package
3rd Place - $600 Award Package
7 Finalists - $350 Award Package
Additional Award Finalists - $100 Award Package
In addition, just for fun, there is a Facebook "like" ranking that is going on. Rankings are refreshed every fifteen minutes, based on the number of Facebook "likes". The one with the most likes is featured on the contest home page, but it's constantly changing.