jackpot

noun

jack·pot | \ ˈjak-ˌpät

Definition of jackpot

1a : the top prize in a game or contest (such as a lottery) that is typically a large fund of money formed by the accumulation of unwon prizes

b(1) : a hand or game of draw poker in which a pair of jacks or better is required to open

(2) : a large pot (as in poker) formed by the accumulation of stakes from previous play

c(1) : a combination on a slot machine that wins a top prize or all the coins available for paying out

(2) : the sum so won

2 : an impressive often unexpected success or reward

3 chiefly Western US : a tight spot : jam

Synonyms Example Sentences Learn More about jackpot

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Examples of jackpot in a Sentence

The lottery jackpot is up to one million dollars. a wily dude who managed to get himself out of one jackpot after another

Recent Examples on the Web

No one won the Mega Millions jackpot on Tuesday night, so now the pot has climbed to $530 million. — Aj Willingham, CNN, "Mega Millions jackpot is still in play, now at $530 million," 5 June 2019 In a fish that can carry gallons of eggs, a single poached sturgeon is a jackpot. — John Carlisle, Detroit Free Press, "How a party in Up North woods is helping Michigan sturgeon survive," 26 May 2018 Even so, would that be harsher than the jackpot of penalties anyway? — SI.com, "World Cup Countdown: 5 Weeks to Go - Should the Golden Goal Rule Be Brought Back?," 17 May 2018 There’s less of a precedent for wins, and even less for this specific type of battle between two enormous, established brands over the jackpot that is modern sneaker culture. — Kaitlyn Tiffany, Vox, "Can Vans really sue Target for a cheap look-alike of its most famous skater shoe?," 26 Dec. 2018 No, not the Bill-Gates-is-poor-compared-to-me super jackpot—just your regular multimillion-dollar kind of thing. — Ezra Dyer, Popular Mechanics, "The McLaren 570S Spider Is Your Just-Won-the-Lottery Car," 12 Dec. 2018 The real jackpot is finding a card with a famous person's signature, which will attract buyers who follow particular authors or artists or specialize in presidential or film memorabilia. — Caroline Picard, Good Housekeeping, "Your Old Christmas Cards Might Be Worth Serious Money," 16 Nov. 2018 Chucky’s cheese Last week’s luckiest jackpot winner was: a) the person in South Carolina who bought a $1.6 billion Mega Millions ticket. — Dwight Perry / Sideline Chatter, The Seattle Times, "Sideline Chatter: A red card for that? Soccer’s getting soft," 26 Oct. 2018 If there is no jackpot winner, the amount grows larger for the next drawing. — Carlie Kollath Wells, NOLA.com, "Powerball ticket worth $50,000 sold in Lafourche Parish. Here's where.," 4 June 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'jackpot.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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More Definitions for jackpot

jackpot

noun

Financial Definition of jackpot

What It Is

A jackpot is a big winning -- often the largest a competition or event has to offer.

How It Works

Let's say John Doe goes to Las Vegas to get away from his wife for a few days. He puts a few dollars in a slot machine and pulls the handle. Three red cherries pop up, lights start flashing, and music starts playing. John has won a $250,000 jackpot -- the largest payout the slot machines offer. He collects his winnings and leaves his wife, who later sues him for half.

Why It Matters

In the finance world, a jackpot is similar to a windfall -- it is an amount of money that is usually unexpected and usually very large. Jackpots can be the result of investing in IPOs that do well, holding onto a stock that everybody else left for dead, or investing in assets that were undervalued.

Note, however, that when you win a jackpot, the IRS does too -- income is taxable, regardless of whether it was expected.

Source: Investing Answers

jackpot

noun