Does this mean I am pretty assured to win the competition?
Your entry for Poetry Contest has been held over by the judges. While this does not mean that you have won, it does mean that you have made a good first impression and they have saved your entry for closer consideration. That is a good sign.
We just want to make sure you are aware of this in case you had it in mind to change your entry. It would probably be best not to at this point.
I'm not going to give out all of the details, but I basically wrote a sonnet (a Shakespearean one) about some Neopian thing.
If they send this message, does it generally mean that you are finalist?
I've gotten that message and was published in the next week's competition so they're probably waiting for a week with fewer awesome poems to put yours in.
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I got that once and wasn't published until a year later haha (it was for a specific day and it wasn't chosen the first time round but they must have kept it for the next year). But yeah, usually that means they will use it at some point.