What you win, first prize in a raffle, though I don’t think I’ve ever won first prize.  Second maybe.  But, aren’t all raffles rigged?  

But despite my unfortunate run of luck, a prize is generally give to someone who works hard, or wins a race

Or I could have been a prize fighter but lacked the size and the strength, and out of curiosity how many prize fighters didn’t win a prize?

And if I had been a pirate, I could have sailed the seven seas to find a prize, namely a ship to attack and take as my own.

And as a prime example, a Chelsea supporter walking into a bar full of Manchester United fans could be called a prize idiot.

This is not to be confused with the word prise

Don’t relatives prise the last dollar out of a dying man’s hand?

Or prise the truth out of a witness, or a perpetrator

Or prise a window open like thieves do when we forget to lock them properly?