I started in IPSC using a cheapo uncle mike's generic holster with the strap cut off and some surplus police mag pouches, again with the straps cut off. That gear worked fine for me for the first couple of years. Then I went to a bladetech DOH holster and ghost pouches and have never looked back
My point is that you don't need to spend a fortune to get started.
The equipment retention rule has been removed so you can use whatever hokey holster you want now, so long as it covers the trigger. (5.2.7.4)
The only person at a match than can deem your holster unsafe is the RM, and he can make you 'fix' it, or remove you from the match. (5.2.6)
Bear in mind that dropping a loaded gun is a go-home kind of foul. We had a lot of this the year after the retention rules were eliminated.
As an aside to Maurice, the top Canadian production shooter, Fatty B, told me that he shoots about 30,000 rounds a year. :O