sweepstakes

sweepstakes definition - business

sweepstakes

A lottery in which winners are selected in a random manner. Sweepstakes are used as a promotional tool by businesses in an attempt to attract new customers or increase revenue from existing customers. For example, a credit card company offers a free vacation as a prize to cardholders, who receive a sweepstakes entry with each use of their card.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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