This is a common term, widely used in different spheres of the gambling business. It is used in casinos, lotteries, bingo, and other industry.
Jackpot – the maximum prize that can be obtained in gambling game.
The jackpot can be fixed when at stake a certain amount, or progressive, when its size is constantly increasing at the expense of deductions from bets of players.
Progressive jackpots are most common in online casinos played on video slots, although there are also video poker, blackjack, poker and other games of chance with accumulative amounts.
Very often the jackpot is called the largest payout, which is charged on a General basis. Also, the term can be used figuratively, denoting a big win.