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From The Collaborative International Dictionary of English v.0.48:
Jackpot \Jackpot\, n. 1. Same as jack pot. See under jack. [PJC] 2. Any larger-than-usual gambling prize formed by the accumulation of unwon bets. [PJC] 3. The highest gambling prize awarded in a gambling game in which smaller prizes are also awarded, especially such a prize on a slot machine. [PJC] 4. An unusually large success in an enterprise, either unexpected or unpredictable, esp. one providing a great financial benefit. [PJC] hit the jackpot to receive an unexpectedly large (or the largest possible) benefit from an enterprise; as, after prospecting for years, he finally hit the jackpot when he discovered a silver lode. [PJC]