For the prize draw, a stand (5)
I believe the answer is:
award
'for the prize' is the definition.
(synonyms)
'draw a stand' is the wordplay.
'stand' shows that the letters should be reversed in order (I've seen 'standing' mean this (in a down clue, letters stand up)).
'draw'+'a'='drawa'
'drawa' in reverse letter order is 'AWARD'.
(Other definitions for award that I've seen before include "Endow" , "Arbitrator's decision" , "Grant, confer" , "Decoration" , "Prize or other mark of recognition" .)