If the winner of a race or game does a lap of honour, they run or drive slowly around a race track or sports field in order to receive the applause of the crowd.
[British]
lap of honour in British English
noun
a ceremonial circuit of a racing track, etc, by the winner of a race
Examples of 'lap of honour' in a sentence
lap of honour
Indeed, there were two laps of honour around this famous arena.