ARV, or "Approximate Retail Value," is a term commonly used in sweepstakes to indicate the estimated market value of a prize. Understanding what ARV means in sweepstakes is crucial for participants, as it helps them gauge the worth of the prizes they might win. The ARV is often disclosed in the official rules of the sweepstakes, ensuring transparency and allowing entrants to make informed decisions about their participation. Overall, what ARV means in sweepstakes plays a significant role in both the promotion and the excitement surrounding potential winnings.