In the context of gambling, a jackpot is the name given to the biggest prize given out by a slot machine or a lottery. In nearly all cases, it is the largest amount of money that a gambler can possibly win in the game.
There are several different types of jackpots. The most famous of these are progressive jackpots, which keep growing constantly, being formed via the accumulation of unwon payouts. In some games, it is possible to win the jackpot randomly. It is won when a rare combination of symbols appears on the reels (e.g. when playing slots).
Fun Gambling Fact:
The biggest jackpot in the world was equal to an astonishing $1,586,000,000 USD. It was shared by three Powerball lottery players on January 13, 2016. Each of the players received over $300,000,000 USD in winnings.
- The biggest prize paid out by a slot machine or a lottery.