Crossword Genius

Would big prize hoist a trophy? (7)

Ross

I believe the answer is:

jackpot

I'm a little stuck... Click here to teach me more about this clue!

'hoist a trophy?' is the definition.
Although both the answer and definition are singular nouns, I can't understand how they can define each other.

'would big prize' is the wordplay.
'would big' becomes 'jack' (I can't explain this - if you can you should believe this answer much more).
'prize' becomes 'pot' (as in a jackpot).
'jack'+'pot'='JACKPOT'

Can you help me to learn more?

(Other definitions for jackpot that I've seen before include "more than just change for the better" , "Cumulative prize" , "pool" , "lot of money" , "Hit the . . . . . . . - win the big prize" .)

I've seen this clue in the Sydney Morning Herald.
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