Meaning of the word "in the running" in English

What does "in the running" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

in the running

US /ɪn ðə ˈrʌnɪŋ/
UK /ɪn ðə ˈrʌnɪŋ/
"in the running" picture

Idiom

having a chance of winning or succeeding in a competition or election

Example:
Our team is still in the running for the championship.
After the latest polls, she's definitely in the running for president.