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A prize draw is a type of sales promotion in which the winner is selected at random from all of the entrants once the competition has closed. It’s as though everyone’s names were put into a hat, and the winner picked out.

Prize draws are typically contrasted with instant-win promotions, where the entrant is told immediately whether they’ve won or lost.

Prize draws can be “free prize draws” (in which it doesn’t cost to enter) or “purchase-necessary prize draws” (in which it’s necessary to buy a product in order to enter).