Great observation and questioning! And I think it's brilliant that you have decided to do a separate prize for each as they require different skills.

To share my thoughts on the matter, option 1 seems to encourage more sporadic entry in your contest but still get some substantial rewards for it (1SBD for 15mins is a pretty good payoff!). Option 2 encourages week-long performance in the contest as possibly winning 5SBD for just over an hour's work is worthwhile (which equates to 1SBD per drawing entered from option 1).

That said, I don't have a personal opinion on which I'd prefer :p