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Definition of consolation prize noun from the Oxford Advanced Learner's Dictionary

consolation prize

noun
 
/ˌkɒnsəˈleɪʃn praɪz/
 
/ˌkɑːnsəˈleɪʃn praɪz/
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  1. a small prize given to somebody who has not won a competition
    • Twenty runners-up will get a consolation prize.
    • (figurative) After losing the party leadership contest, he was offered the post of Foreign Secretary as a consolation prize.
See consolation prize in the Oxford Advanced American Dictionary
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