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Well I've entered a LOT (hundreds) on here and other places, and while you do get a lot of junk mail and a few telemarketing phone calls here and there, I've had nothing major happen, so yeah, it's pretty safe as far as I can see

Welcome nikolai5wightman!
You'll get a lot of e-mail, facebook adds and depending on the competition, calls, like roobycat said. These are usually from sites that ask you questions like, do you want insurance, sponsor a charity and the questions go on for pages.....just remember to say no if you want too and don't answer if it makes you feel uncomfortable. (after all you are the customer) These pages can also generate lots of- emails, just unsubscribe.
I've had no problems at all.

Thanks guys! One more thing though... How do you unsubscribe from people calling/texting you?

If you do get a call and your not interested just say that your not interested and ask to be removed from their call list. I'm fairly nice to them because it's a way they make their living. For sms you can try texting "stop" back (without the commas) and texts should stop. Most of the systems are automated. You can also call your mobile service provider and they can put a free bar on your phone (prepaid and postpaid) but this may stop you entering competitions to 19 numbers, (check with your provider) :)