Welcome to the TPF BBC (Bankroll Building Contest)...

[Talking Poker]

Lucky for you Chip, the contest hasn't started yet. We're still working out the details and seeing how much interest there is.

And yes, you can play SNGs with the money if you want. You can play anything at all so long as it is online poker.

Edit: Keep in mind though, you still need to count your hands played, and I have to think SNGs are going to take you a lot more hands than cash games would...