I talked to DSCE about this last year, and from what they said was we could have prizes or an entry, but not both, which really boils down to removing the incentive for either the club to hold one a MTG tournament or people to attend said tournament. However, we did have one club sponsored MTG tournament last year with free entry fee and donated (by individuals, not the club) prizes. I feel the DSCE is incorrect in labeling MTG a game of chance, and the lack of legal restrictions on companies and stores who run events like these prove it. It’s really a shame that the club can’t hold MTG tournaments, because the club could make a profit while players would have lower entrance fees than they would at hobby stores (I’ve crunched the numbers on this). Additionally, I know many students who are interested in on-campus MTG tournaments.
I plan on talking to them again this semester about the issue. I don’t know how relevant this is to poker players, but if you have any questions or comments on the issue, PM me.