boxing ring vs prize ring

boxing ring and prize ring both are nouns.

Word	Noun	Adjective	Verb	Adverb
boxing ring	Yes	No	No	No
prize ring	Yes	No	No	No

As nouns, boxing ring and prize ring are synonyms defined as:

boxing ring (noun)	prize ring (noun)
a square ring where boxers fight	a square ring where boxers fight