Jackpot (bingo)
The prize offered on a "flimsy" game or "special"
game. Sometimes the jackpot is progressive and grows every day
or every week. Often the numbers needed to win are progressive,
too.
As numbers are added, the pot becomes easier to win..
Jackpot (keno)
The prize paid in a progressive. Technically, the jackpot is
the amount above the regular payoff for the game. For instance,
if the progressive payoff is $25,453 but the regular payoff
is $10,000, the jackpot is $15,453. However the term is regularly
misused to indicate the total payoff amount.
Jackpot (lotto)
The top prize for a lotto game. Jackpots are usually pari-mutuel.
If not won in the next drawing,
they "roll" to the next drawing and increase in size.
Jackpot (poker)
A progressive prize in some card rooms given to the player who
gets, in lowball, a 6-4 beat,
or, in high, a given hand, perhaps aces full, or four of a kind,
beat. The procedure for collection of the prize fund differs
in each card room. In some, part of the antes or blinds, called
the jackpot drop is taken each hand and added to the jackpot
fund. The procedure for awarding the jackpot also varies widely.
In some clubs, the fund is for all games; in others, it is for
a specific game. That is, for example, the 2-4 hold 'em may
have one jackpot, while the 3-6 and 5-10 each has its own separate
jackpot. The usual procedure is the holder of the beaten hand
receives the largest share of the jackpot; the holder of the
hand that beats the loser receives a smaller percentage; while
the remainder of the players split a third portion.
The division might be 50% of the jackpot to the loser, 25% to
the holder of the winning hand, and 25% split to the other players
at the table. Other divisions are found, also. In some large
clubs, the jackpots frequently grow into the tens of thousands
of dollars, leading to the interesting phenomenon of players
specifically trying to get their
hands beat, and often staying in for several bets on hands they
might not otherwise play. The rules for collection and disbursement
of jackpots changed in California in 1998, but the effect remains
about the same. Also called bad beat jackpot.
Jackpot (general terms)
Occurs in bet types such as superfectas when no investors select
the winning combination.
The monies invested into this superfecta pool are then carried
over to the next suitable superfecta race.
Jackpot (videopoker)
A special bonus paid when you hit the highest hand on a video
poker machine.
