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...I don't think I could stand to fish or do any of the other games for as long as it would likely take (me) to get 1000's or whatever. 8)
You get 1000 for 1st place[stardewvalleywiki.com].
You apparently need 90 points to get first place. I won with 92 by focusing on item value, after 3-4 failed attempts before that which got me mid-/high-eighties.
The Wheel of Fortune also seems rigged; it tends to land on green more than on orange.
From what I've read, it seems that the less you wager, the more rigged it is, with multiple suggestions I've seen saying that you have to bet under 200 to consistently win with green.
I did a bit of fishing and won first place, but I made most of my tokens by betting on the wheel, from 150-199.
Might just be confirmation bias, but I did seem to win more often when I was betting less than when I was betting more.
btw fishing seems to be more forgiving, fish are easier there. Slingshot requires more skill, and if you have money to spare you can buy tokens to fill the gap if you don't have enough for an item on token shop.
You only see your points after your display has been judged.
See my link to the wiki in my post above for more details.
You can't see or know them beforehand, but it takes into account the money value of the things, the quality and there is a small multiplier for variety, so I used 3 expensive gold star crops, a diamond, a gold star goat cheese, a starfruit wine, two very big and gold star fishes of expensive species, and smething else mineral related/mining related that I don't remember what it was, so I had 2~3 things from the 4 mains sources of income for variety and everything was high priced gold star stuff, after I sold the stuff after the fair I got almost 10k for those 9 itens.