Why do I have to wait 24 hours before awarding a Bounty for existing answer?

Question

I have just started a bounty to reward this answer.

I chose the bounty reason of 'Reward existing answer'.

But when I tried to immediately award the bounty, the following error message popped-up:

Why is this so?

• I said I want to award an existing answer, so I don't need to wait for a new one
• Is it to raise awareness of the question in the 'featured' tab for (minimum) a day?

Answer 1

Here are some of the reasons, based on the discussions and answers supplied in the relevant MSO discussion:

• Feature the question, as per regular bounty protocols, the question will have the chance to be 'Featured' and attract attention. This can:
  • Provide a chance for the question to get more high-quality answers and up-votes
  • Provide a chance for the existing answer(s) to get more up-votes

• Prevent Misuse, the SE staff have noticed that people are using the bounty transfers as a means of passing reps to their mates. Shog9 ◆ says:

  I've had the dubious privilege of seeing even more dodgy tricks played with bounties - and frankly, I tend to think they're too easy to award already.

  Limiting the bounty award to 24 hours can:

  • Deter Nefarious (no not that one) activity

• Give others a chance, As Jeff Atwood ◆ says:

  If you start a bounty, part of your contract with the community is to allow everyone to have a shot at potentially earning it with a great answer.