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 prizesb (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 playc (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
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
Street names include Apache, China girl, goodfella, jackpot, murder 8, TNT and Tango and Cash.
The Republican gamble to stiff-arm Merrick Garland and hold open Justice Antonin Scalia’s seat appears to have hit the jackpot.
The games are popular because Illinois bands together with other states to offer bigger jackpots than just one state could.
IOWA CITY, Iowa (AP) — The Iowa Supreme Court on Friday overturned the conviction of a lottery employee implicated in a nationwide fixing scandal, saying his trial over a rigged $16.5 million Iowa jackpot was tainted by a dawdling investigation.
He is believed to have died while searching for the $2 million jackpot buried by Santa Fe author Forrest Fenn.
In May, a $105,000 Fantasy 5 jackpot went unclaimed.
LEADERSHIP QUALITIES The Winery could expand even further in the coming years now that Lewis has hit the draft jackpot.
A mandatory payout of the 20-cent Rainbow 6 rolling jackpot will occur after the day's final race, the $100,000 Soldier's Dancer Stakes.
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
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.
JACKPOT Defined for English Language Learners
Definition of jackpot for English Language Learners
: a usually large amount of money won in a game of chance
JACKPOT Defined for Kids
Definition of jackpot for Students
1 : a large amount of money to be won
2 : a large and often unexpected success or reward
Seen and Heard
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