White collar boxing, a scam?

So I'm aware that most charity owners don't do charity work out of the goodness of their hearts but do it as a paid job where they'll take a small percentage of whats donated and call it their wages. (This is the case in A LOT of charities before anyone posts in disagreement, it's true, it's why I never give street collectors any money when passing by). I've been looking at doing white collar boxing despite having knowledge on how charities work but white collar boxing takes it to a hole new level... They seem to want money funded up front with only a chance that you'll be picked to fight... so does this mean that they don't have to pick you but keep your donation? I looked into it more and it didn't explain much so my guess is that they keep all the donations of people who aren't picked and that will probably be their wages, something I'm not going to become a mug to. I then looked on their Facebook page and noticed that their friends were being picked only. I know that they're friends because when looking on their profiles they were all in pictures together from way before the competition was announced lol. So to me it seems like a big scam. The friends that had been picked then had the audacity to comment and be like 'I can't believe I've been picked' I was going to write a sarcastic comment in response but then I decided not to. And the only other white collar boxing events I could find has something to do with the biggest charity con artist in my city. Opinions?