prizefight

Etymology
– the term originally referred to rank advancement, not a monetary prize.

Based on Renaissance English (16th century) within the  [sic] – public rank advancement fights within the organization, wherein the “prize” was rank advancement. The company later became defunct, while the term was revived in late 17th century for public shows of street fighters, which eventually developed into modern boxing.

In modern times, reinterpreted to mean “a fight for a (monetary) prize”.

Noun

 * 1) A professional boxing match, in which two boxers compete for a prize (usually money).