difference between awards and prize
Key Difference: An award or prize is a mark of recognition for excellence in certain field, whereas a reward is a compensation or incentive in return of an act.
PRIZE: A prize is an award given to a person or a group of people to recognise and reward actions or achievements. Official prizes often involve monetary rewards as well as the fame that comes with them. Some prizes are also associated with extravagant awarding ceremonies, such as the Oscars.