sweepstake
/ˈswiːpsteɪk/Definitions
1. noun
A contest in which participants pay an entry fee and are given a chance to win a prize by having their names drawn at random.
“She entered the sweepstake to win a trip to Hawaii.”
2. noun
A pool of money collected from the sale of tickets for a sweepstakes or lottery.
“The company used the sweepstake to fund a new charity initiative.”
3. verb
To participate in a sweepstake, typically by paying an entry fee.
“He decided to sweepstake for the new car prize.”