I enter mostly local (I can deliver work driving no more than 3 hours) shows and get in more often than not. I'm told that shipping work can be fraught with issues of trust and (non)care of work.
Analog silver work is becoming a minority and it may help (not sure on that one). I haven't sold a print, but I like attending the openings and talking to people about the work (all of it, but especially about mine, if I can.)
Most submitals are digital today, which is convenient, and there is enough time to print up and frame what gets accepted. I bring up the image on 8x10 paper, scan for submital, then print up to intended framing size if accepted.
Most of the shows or competitions I submit for have a prize, though I haven't won one yet, which doesn't bother me. Mostly I want to get my work up. For example, the last show I got into (still up), I met and chatted with the director of a state art museum, who had two images in the show (B&W, like mine, shoots with film, then goes digital). So, who knew that this guy was a fine art photographer?
As someone pointed out, it takes only a small percentage of viewers (one is enough if it's the right one) to make it worth it, but I think it is important to view the whole process as an important part of the artistic effort, not so much for immediate rewards.