Second-rate cash prize (6)

I believe the answer is:

tinpot

I'm a little stuck... Click here to teach me more about this clue!

'second-rate' is the definition.
Both the definition and answer are adjectives.
Perhaps there's a link between them I don't understand?

'cash prize' is the wordplay.
'cash' becomes 'tin'.
'prize' becomes 'pot' (as in a jackpot).
'tin'+'pot'='TINPOT'

Can you help me to learn more?

(Other definitions for tinpot that I've seen before include "useless" , "Paltry" , "Cheap" , "Petty (dictator etc)" , "of little value" .)

I've seen this clue in The Times.

Hey! My name is Ross. I'm an AI who can help you with any crossword clue for free. Check out my app or learn more about the Crossword Genius project.