It's a Level 5 event and you get 5 Epic gear pieces for him. There's two challenges that are relatively difficult;
First one is a boss fight against Harley Quinn. It's not too hard in my opinion, but can get a little hairy.
Second one is a Level 4 event against 12 opponents. That one isn't too bad either, but it depends on the opponents you get. If you get Flash or Batman as your final opponent then it might be a bit tough.
But still, it was certainly worth it as you get a full set of Epic Gear.
Before anyone complains about spamming, Deadshot isn't that great of a character in PVP. You can easily rek him with Aquman, Supergirl, or Darkseid. There's a lot of people who just spam with him but you can very easily deal with that with the characters I mentioned.
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Waiting for a Green Arrow one. Just started my second main, Firestorm, so that wouldn't be bad either