Sometimes the odds for a tournament is the worst (1:1) and the stakes don't increase at all at win.
This can also happen in a town's first tournament since the new game. This has happened regardless of towns or castles since at latest at AWoIaF v8.2.
- Game version (and steam or downloaded):
AWoIaF v9.*, v8.2. Warband v1.174 downloaded
(https://img.atwiki.jp/awoiafwb/attach/1/229/odds2a.jpg)