sweepstakePronunciation: /ˈswiːpsteɪk/Definition of sweepstake noun (also sweepstakes) a form of gambling, especially on horse races, in which all the stakes are divided among the winners: [as modifier]:a sweepstake ticket a race or gambling game in which the winnings comprise all the money that has been staked. a prize or prizes won in a sweepstake. sweepstake in other Oxford dictionaries Definition of sweepstake in the US English dictionary