What does 'Sweepstakes' mean?

Sweepstakes are a type of contest or competition that traditionally involves individuals submitting entries for a chance to win a prize or prizes. In the digital age, sweepstakes have become much more popular and accessible thanks to the development of specialized software. This software allows businesses to easily set up and manage sweepstakes, making them a very effective marketing tool. With this software, companies can create a variety of types of sweepstakes, such as instant win, refer-a-friend, and social media sweepstakes