‘兑奖’ is a verb meaning ‘to claim a prize’—typically after winning a lottery, contest, or promotional draw. The character 兑 (duì) originally means ‘to exchange’ or ‘to redeem’, while 奖 (jiǎng) means ‘prize’ or ‘award’. Together, they literally convey the act of exchanging a winning ticket, code, or proof for its corresponding reward. This term is commonly used in everyday contexts like supermarkets, online platforms, and government-run lotteries.

The word implies a formal or procedural step: you must present valid proof (e.g., a scratch-off ticket, QR code, or notification) to an authorized person or system to receive your prize. It’s neutral in register—used in both spoken and written Chinese—and often appears in signs (e.g., ‘兑奖处’ — ‘Prize Redemption Counter’) or app notifications. Unlike general terms like ‘领奖’ (to receive a prize), ‘兑奖’ emphasizes the verification-and-exchange process, especially when monetary or tangible rewards are involved.