Ok, I'm not too familiar with this, so bear with my question.

How do magicians get awards, like a World Magic Award? Is it because they're discovered? Because they tour a lot? Because they compete in competitions?

Magicians get awards for competitions and maybe for helping the community like Lance Burton or David Copperfield does. Plus winnig awards helps the magician become discovered ex: Lance Burton winning FISM.His dove act is what made him famous and got him the work in Vegas!