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Default formula help

Hello everyone. I was wondering if somebody could offer some advice as
how to best approach this dilemma.

Basically I am looking for a formula that helps us keep track of
scores when we go on golf trips. Interesting stuff, huh?

Anyways the basic idea is that we have 8 golfers. We play 72 holes.
Each golfer with the lowest score on each hole wins $5. Based on that
info, could we set something up that would pick the lowest score out
of a given range, and then attribute $5 to the person who had the
lowest score. And if the lowest score was a tie, it carried to the
next hole.

Thanks for your help!

 
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