A lottery in which the prize or prizes constitute all the money paid by the participants.(noun)
A prize draw.(noun)
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Use "sweepstake" in a sentence
"In that name sweepstake, his companions had come out rather well."
"In his loneliness, the man had been entering "sweepstake" contests he received in the mail."
"Society B, combines with other finds of related dinosaur remains to show that the animals moved from their original southerly habitats into the future North America in "several separate dispersal events" rather than in the "sweepstake" style rush of an unstoppable competitor, Reisz told Postmedia News."