“Insight is the booby prize of life.”

Source: The Bed of Procrustes: Philosophical and Practical Aphorisms (2010), p. 84

Source: The Reservoir: Stories and Sketches

Source: The Professor at the Breakfast Table (1859), Ch. X.
Context: Poets are never young, in one sense. Their delicate ear hears the far-off whispers of eternity, which coarser souls must travel towards for scores of years before their dull sense is touched by them. A moment's insight is sometimes worth a life's experience.

"Verse Chronicle," The Nation (23 February 1946); reprinted as "Bad Poets" in Poetry and the Age (1953)
General sources
Context: Sometimes it is hard to criticize, one wants only to chronicle. The good and mediocre books come in from week to week, and I put them aside and read them and think of what to say; but the "worthless" books come in day after day, like the cries and truck sounds from the street, and there is nothing that anyone could think of that is good enough for them. In the bad type of thin pamphlets, in hand-set lines on imported paper, people's hard lives and hopeless ambitions have expressed themselves more directly and heartbreakingly than they have ever expressed in any work of art: it is as if the writers had sent you their ripped-out arms and legs, with "This is a poem" scrawled on them in lipstick. After a while one is embarrassed not so much for them as for poetry, which is for these poor poets one more of the openings against which everyone in the end beats his brains out; and one finds it unbearable that poetry should be so hard to write — a game of Pin the Tail on the Donkey in which there is for most of the players no tail, no donkey, not even a booby prize.

1910s, Theodore Roosevelt — An Autobiography (1913)
Context: It is impossible to win the great prizes of life without running risks, and the greatest of all prizes are those connected with the home. No father and mother can hope to escape sorrow and anxiety, and there are dreadful moments when death comes very near those we love, even if for the time being it passes by. But life is a great adventure, and the worst of all fears is the fear of living.

said by Rhodes to Lord Grey. [Lewis, Michell, The Life and Times of the Right Honourable Cecil John Rhodes 1853-1902, Volume 2, 178, New York and London, Mitchell Kennerly, 1910, http://hdl.handle.net/2027/uc2.ark:/13960/t5m90j14v?urlappend=%3Bseq=194]
Often quoted in variant forms such as "To be born English is to win first prize in the lottery of life".

A vida...é uma enorme loteria; os prêmios são poucos, os malogrados inúmeros, e com os suspiros de uma geração é que se amassam as esperanças de outra. Isto é a vida.
"Teoria do medalhão" (1881), first collected in Papéis avulses (1882); Jack Schmitt and Lorie Ishimatsu (trans.) The Devil's Church, and Other Stories (London: Grafton, 1987) p. 113.

Gertrude Elion https://www.famousscientists.org/gertrude-b-elion/

1900s, A Square Deal (1903)
Context: Among ourselves we differ in many qualities of body, head, and heart; we are unequally developed, mentally as well as physically. But each of us has the right to ask that he shall be protected from wrong-doing as he does his work and carries his burden through life. No man needs sympathy because he has to work, because he has a burden to carry. Far and away the best prize that life offers is the chance to work hard at work worth doing; and this is a prize open to every man, for there can be no better worth doing than that done to keep in health and comfort and with reasonable advantages those immediately dependent upon the husband, the father, or the son. There is no room in our healthy American life for the mere idler, for the man or the woman whose object it is throughout life to shirk the duties which life ought to bring. Life can mean nothing worth meaning, unless its prime aim is the doing of duty, the achievement of results worth achieving.