Veepstakes describes the quadrennial process in which candidates for President of the United States select a running mate. If the ticket wins, the running mate becomes the Vice President of the United States and first in line to the presidency.
The phrase was originally used in the Hotline political newsletter during the 1988 presidential campaign.
Occasionally, the running mate is chosen from the pool of candidates who also ran in the primary, as was the case in 1960 with John F. Kennedy choosing Lyndon B. Johnson, 1980 with Ronald Reagan choosing George H. W. Bush, and in 2004 with John Kerry picking John Edwards.
In 2000, Texas Governor George W. Bush attempted to counter a perception of his inexperience by choosing Dick Cheney, a former White House Chief of Staff, congressman, and Secretary of Defense.