What does ARV mean in sweepstakes? ARV stands for the “Approximate Retail Value” of a prize in a sweepstakes or contest. It is an important figure that helps participants understand the value of what they might win. Organizers use ARV to provide transparency and ensure compliance with legal requirements. The ARV is typically calculated based on the retail price of the prize at the time of the contest announcement, excluding taxes and fees. Knowing the ARV can help participants assess the potential benefits of entering a sweepstakes and make informed decisions about their involvement in the competition.
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