Sweepstakes

Definition:

(n.) A winning of all the stakes or prizes; a sweepstake.
(sing. / 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.
(sing. / pl.) A race for all the sums staked or prizes offered.

Compare sweepstakes with other words:

raffle vs. sweepstakes