Depending on who you ask, you're likely to find out that there are several different kinds of powwows. But generally speaking, there are two basic kinds of events: 'competition powwows', at which dancers and drum groups compete for prize money, and 'traditional powwows', where participants are not awarded prize money but instead receive gifts and acknowledgements for taking part. Some traditional powwows are sponsored by families to honor relatives or to commemorate significant events in their lives. Then there are ‘exhibition powwows’, these are professional dancers. They make their living by doing presentations for school's and cultural events.