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- Dictionaryprize mon·ey
noun
- 1. money offered or received as a prize.
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noun
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The amount of money received by the winner of a prize or award
Prize money refers in particular to naval prize money, usually arising in naval warfare, but also in other circumstances. It was a monetary reward paid in accordance with the prize law of a belligerent state to the crew of a ship belonging to the state, either a warship of its navy or a privateer vessel commissioned by the state. Prize money was most frequently awarded for the capture of enemy shi... Wikipedia