jackpot

noun jack·pot \ ˈjak-ˌpät \

|Updated on: 8 Jun 2018

Definition of jackpot

1 a : 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

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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 of jackpot from the Web

The next drawing is Tuesday with a jackpot estimated at $110 million.

— bob warren, NOLA.com, "Mega Millions ticket worth $30K sold in Abita Springs," 4 June 2018
While the aisles of Trader Joe's beckon with plenty of decadent treats, the popular grocery store chain is also a jackpot for healthy eating finds.

— perri ormont blumberg, Southern Living, "5 Things Nutritionists Load Up on at Trader Joe's," 22 May 2018
Beauty hacks that turn one product into two (or more) are a serious jackpot.

— macaela mackenzie, Allure, "This Genius M.A.C. Lash Primer Hack Makes Your Brows Look Way Thicker," 16 May 2018
And now Mayweather, who loves to gamble, just won a $100,000 jackpot playing video poker, which might be the saddest gambling game of all.

— stephen a. crockett jr., The Root, "Floyd Mayweather Jr. Won $100,000 Video-Poker Jackpot, Proving That Life Is Unfair," 15 May 2018
States may have a new revenue source, but the gambling dollars might not be a huge jackpot in the long run.

— USA TODAY, "Who needs to beat the traffic? The end of the game just got so much more exciting," 15 May 2018
Friday's Mega Millions prize is $45 million and Saturday's Classic Lotto drawing is for a jackpot of $6.1 million.

— cliff pinckard, cleveland.com, "Powerball jackpot $257 million; Ohio Lottery results," 10 May 2018
Here are the key takeaways: The penny slot machine has a minimum bet of 80 cents and offers a three-level progressive jackpot, with seven interactive bonuses.

— michele parente, sandiegouniontribune.com, "High-tech 4D slot machine debuts at San Diego casinos," 29 Apr. 2018
Although the tournament was for charity, the games were intense as players competed for a $10,000 prize pool, including a $3,000 jackpot for the first-place finisher.

— alex cramer, The Hollywood Reporter, "Autism Speaks Poker Tournament Turns Pro Athletes Into Card Sharps," 9 Apr. 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.

First Known Use of jackpot

1865

in the meaning defined at sense 1b(1)

See Words from the same year

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jackpot Synonyms

Synonyms

jack, pool, pot;

Related Words

fund, kitty;

bet, stake, wager;

Financial Definition of JACKPOT

jackpot

noun

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