5K stands for five thousand dollars, and it’s a common amount on sweepstakes. Sweepstakes are contests where you enter by paying money or doing something else in exchange for a chance at winning prizes. Sweepstakes are legal in the United States only when they’re run by nonprofit organizations or businesses that don’t sell products or services.

The prize amounts you’ll find in sweepstakes range from $5,000 up to $500 million or more. But even if you don’t win the top prize, there are still many smaller awards available to you. In fact, most sweepstakes offer multiple entry options so that you can increase your odds of winning something.

You may also find smaller “instant” prizes like gift cards or vouchers for free items or services offered by sponsors who run these types of contests (e.g., Amazon gift cards). Some instant prizes may be worth less than $10 but others can be worth much more — especially if they’re offered by big-name companies like Apple Inc. or Starbucks Coffee Company!

Last modified: September 25, 2022