Sweepstakes Lingo
Term
18+ US (48)
This means that in order to enter the sweepstakes and qualify, you must be 18 or over and live in the continental United States. Sorry, Alaska and Hawaii.
Term
ARV
This stands for “Approximate Retail Value” or in other words, what you would pay if you were to purchase that prize. For example, if you win a vacation the ARV would include approximate cost of the flights, hotel stay, etc.
Term
FMV
This stands for “Fair Market Value” and this value is important for tax purposes. This value is more realistic to what the sponsor actually paid for the prize, which is why there might be a difference between the ARV and the FMV.
Term
UAOM
This stands for “Under the Age of Majority.” In more simple terms, it is another way to refer to a minor or under aged contestant. If a contestant is a UAOM, he or she will need a signed consent form from the parents or guardian to enter the sweepstakes.