Is the Wednesday Tournament Event worth it?

I am trying to determine whether or not I want to spend blue cash on entering tournaments just to get club points. Is this worth it? The current club I'm on doesn't seem to be participating a ton (maybe time to find a new club).

I just don't wanna waste my cash and I definitely don't need the lame players they offer for winning the tournaments. And I don't think there's any way I make my $$$ back unless I hit some achievement during the process.