sweepstake - definition and synonyms

noun [countable] British 

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/ˈswiːpˌsteɪk/
singularsweepstake
pluralsweepstakes
  1. a form of gambling in which a group of people each pay for the name of someone who takes part in a race, competition etc. The person who has the name of the winner of the race, competition etc gets all the money.