A slot is a thin opening or groove in something. You might see a slot in a door or a window. People use slots to mail letters and postcards. You can also find them in a post office. The word slot is also used to refer to a position, or a time slot. For example, you might book an appointment or meeting at a specific time.

When a player spins a slot machine, they hope to win a jackpot. The term “jackpot” is also used to describe large and unexpected wins in other areas. For instance, investors who buy stock in an initial public offering (IPO) often hit the jackpot if the company they back experiences a dramatic and swift increase in share price, allowing them to cash out with a substantial profit. The term jackpot has become more common in colloquial conversation because it is an easy way to illustrate a sudden, significant, and unanticipated outcome.