Jackpot

AAA

DEFINITION of 'Jackpot'

The top prize in a game of chance. Jackpot prizes can be anything from cash to cars and houses.

INVESTOPEDIA EXPLAINS 'Jackpot'

When winnings are high, as in the case of most jackpots, you may have to pay the estimated tax liability at source. As your employer does with employment earnings, the awarder will withhold the taxes and send them to the IRS on your behalf.

RELATED TERMS
  1. Sin Tax

    A state-sponsored tax that is added to products or services that ...
  2. Gambling Income

    Any income that is the result of games of chance or wagers on ...
  3. Gambler's Fallacy

    When an individual erroneously believes that the onset of a certain ...
  4. Lottery

    A game of chance, where winners are typically decided by a drawing. ...
  5. Gambling Loss

    A loss resulting from games of chance or wagers on events with ...
  6. Hot Hand

    The notion that because one has had a string of successes, he ...
Related Articles
  1. Taxes

    Winning The Jackpot: Dream Or Financial Nightmare?

    Don't assume all prizes are free. Many come with enough costs to render them worthless.
  2. Entrepreneurship

    4 Fatal Financial Fantasies

    These dreams are likely to burst - and may blow away your financial future in the process.
  3. Investing Basics

    Sinful Investing: Is It For You?

    Sin stocks may seen outright undesirable to some, but these "naughty" industries bring stable returns - even in hard times.
  4. Mutual Funds & ETFs

    Socially (Ir)responsible Mutual Funds

    Not concerned about being an ethical investor? Maybe "sinful stocks" have a place in your portfolio.
  5. Investing News

    5 Famous MLB Players Who Went Broke

    Major League Baseball is one of the biggest and most lucrative industries out there.
  6. Economics

    What is Happening To Atlantic City's Gambling Industry?

    It is quite ironic that Atlantic City, once a bustling seaside resort, home to Miss America Pageant and the inspiration for the iconic “Monopoly” game finds itself in economic doldrums today.
  7. Economics

    Industries That Thrive On Recession

    Find out where to turn when looking to invest in a tumultuous market.
  8. Chart Advisor

    Add Some Sin To Your Portfolio With This ETF

    There are thousands of ETFs on the market but none dedicated to sin stocks. Here's a look at a few alternatives to consider.
  9. Investing News

    Learn How To Invest Defensively From This Hedge Fund Pro

    With the Dow Jones Industrial Average and the S&P 500 hovering near all-time highs and plenty of investors shifting to a defensive stance, there are plenty of opportunities to bet against the ...
  10. Investing Basics

    Are You Investing Or Gambling?

    We look at ways in which gambling creeps into trading, and what may drive an individual to trade - or gamble - in the first place.

You May Also Like

Hot Definitions
  1. Command Economy

    A system where the government, rather than the free market, determines what goods should be produced, how much should be ...
  2. Prospectus

    A formal legal document, which is required by and filed with the Securities and Exchange Commission, that provides details ...
  3. Treasury Bond - T-Bond

    A marketable, fixed-interest U.S. government debt security with a maturity of more than 10 years. Treasury bonds make interest ...
  4. Weight Of Ice, Snow Or Sleet Insurance

    Financial protection against damage caused to property by winter weather specifically, damage caused if a roof caves in because ...
  5. Weather Insurance

    A type of protection against a financial loss that may be incurred because of rain, snow, storms, wind, fog, undesirable ...
  6. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
Trading Center