Bring 5 quarts water and 1/4 cup Old Bay seasoning to a rolling boil in a large covered stockpot.
Add potatoes; return to a boil, and cook, uncovered, 10 minutes.
Add sausage and corn, and return to a boil. Cook 10 minutes or until potatoes are tender.
Add shrimp to stockpot; cook 3 to 4 minutes or until shrimp turn pink. Drain. Serve with Old Bay seasoning and cocktail sauce.