consolation-prize

consolation prize

noun
a prize, usually of minor value, given to the loser or runner-up in a contest, competition, etc., or to all losers who have performed well or met certain standards.

Origin:
1885–90

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World English Dictionary
consolation prize
 
n
a prize given to console a loser of a game

Collins English Dictionary - Complete & Unabridged 10th Edition
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