Source : Webster's Revised Unabridged Dictionary (1913)

Sweepstakes \Sweep"stakes`\, n.
   1. A winning of all the stakes or prizes; a sweepstake.

   2. sing. or pl. The whole money or other things staked at a
      horse race, a given sum being put up for each horse, all
      of which goes to the winner, or is divided among several,
      as may be previously agreed.

   3. A race for all the sums staked or prizes offered.

Source : WordNet®

sweepstakes
     n : a lottery in which the prize consists of the money paid by
         the participants [syn: {sweepstake}]