Prize redemption is the process of claiming a reward or prize that has been won, often through a contest, lottery, or promotional event. Participants typically need to follow specific instructions provided by the organizing entity, which may include submitting a winning ticket or completing a form. Once the necessary steps are completed, the winner receives their prize, which can range from cash to merchandise or experiences. It's important for winners to be aware of any deadlines or conditions associated with the prize to ensure successful redemption.