When a sportsperson has won a race, they may do an extra lap so spectators can cheer them. You can use this figuratively, ie. a repetition of your last successful action.

It's the lap around the track taken by the winner of either a foot race (100m, 400m, etc.) or an automobile race (Formula 1, NASCAR, etc.)

it's the lap (meaning running ) around the field which athletes sometimes do when they win a game.