Win a travel sweepstakes, and you may find yourself stretching out on a beach chair in some impossibly perfect exotic locale, sipping on a mai tai (or just orange juice for you teetotalers), and gazing out over placid blue waters. Of course, you may also find yourself shivering as you pass through Alaska's inner passage on board a cruise liner, but is that really so bad compared with another week at your cubicle? Either way, a vacation's a vacation, and you'd be foolish to turn it down.

Along with cash competitions, travel sweepstakes remain the most popular contests. And while with cash you know exactly what you're getting, a travel package could land you anywhere from the Andes to the Rockies, the Urals to the Himalayas. Not that there must be mountains in your vacation future, of course; there are just as many beach getaways, desert spa retreats, and jungle journeys on which to embark.

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The terms and conditions of each travel sweepstakes varies, but there are a few basic guidelines. Generally, the company sponsoring the giveaway will cover the cost of airfare (coach) and hotel accommodations. Some will even offer a perdiem or daily spending allowance for travel, food, or other incidentals. But you're responsible for the rest, which can include everything from cabs and buses to tips, gifts, and other mementos.

It's also worth bearing in mind that you'll be taxed on your vacation whether you win a cruise, a ski trip, or an African safari. These prizes are treated just like cash in the eyes of the IRS, so it's smart to put aside a chunk of money in preparation for next April 15. You may encounter some nasty surprises in the Amazon, but even they won't compare with the surprises on your yearly income statement.