Of the three contestants, the one who finishes with the most money wins the game and gets to keep the money. The contestant who finishes in second place receives $2000 and the third place finisher receives $1000. The winner of the show gets to return to play two new challengers. If the returning champion wins, that day's winnings are added to his previous winnings. If he finishes in second place, he receives $2000 for that game in addition to his previous winnings, if he finishes in third place, he receives $1000 plus previous winnings.
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This statement is about the Wheel of Fortune show : Contestants receive their cash and/or prizes within 120 days after the airdate of the show. Even though that answer was for Wheel of Fortune it's owned by the same company that does the Jeopardy shows. They would not pay Jeopardy contestants as soon as your question seemed to expect. The show might not air for many months after it was completed.
after the show is aired
There is a three-month period between the time the show is filmed and the time the show airs. After it's aired, there's another three-month period before the winnings are mailed to you (whether you came in first, second or third).
This is fiction, many times the show aired within a week or so after recording and they will begin making shows for the new season in mid August much less than 3 months and only 30 days, although the will do a weeks recording a day for a few days in a rolll. Of course shows are not filmed and are digitally recorded at the Sony Pictures Television Studio in Culver City California.