You might have heard a lot of fuss associated with the term Progressive Jackpot. You might have some friends who would have claimed to win millions by availing these in a very short span of time. But what exactly is a Progressive Jackpot? And what should one do to win one of those? If you look into history, these Jackpots became popular in the decade of 80’s. These are the jackpots associated with specific slot games released by the big gaming giants such as Microgaming, NetEnt, IGT etc. So when you play such a slot game and place the maximum bet amount to try your hand at these Jackpots, and end up winning it, you do not win a fixed amount but you keep on winning every time a user plays any of the games associated with that particular jackpot wins.
Best Mobile Casinos with Progressive Jackpots
How do These Jackpots work?
The idea behind these jackpots is such that a certain percentage of the amount is being added to the jackpot every time a bet is being made. These bets can be put on a single online slot machine or multiple slots linked to a particular jackpot. Not only the slot games but also the Video Poker games may be from these providers. You can also find some Blackjack games with progressive bet available. The good news is that Progressives are available for both, traditional land-based casinos as well as online casinos.
There are 3 kinds of Progressive jackpots
The Standalone Progressives: Initially, progressives introduced were restricted to a particular video slot machine, it used to take a part of your bet towards the jackpot. This part of bets placed on a single machine gets added up until a jackpot is being won.
Local Progressives: Taking a cue from Standalone, individual casinos started linking multiple slots to one progressive jackpot, hence increasing the pool of jackpot accumulated, obviously resulting in better payouts. Generally, the slot machines pouring into one particular jackpot belongs to a particular developer.
Wide Area Network Progressives: As the name suggests, these progressives are linked between multiple casinos. Mostly, these jackpots are attributable to a particular game or multiple games (of a particular developer) within multiple casinos, so the jackpots keep adding up with the number of people who play those slots.
There is a jackpot meter clearly visible over the slot, which shows the amount of jackpot accumulated, both in land-based as well as the online casino games. Thus, it is played like playing any other regular slot machine, the only difference being the fact that most online slot games offer a fixed amount of jackpot to the players. This means that there is an upper limit to how much you can win. But with these kind of jackpots, there is no such limit, the jackpot keeps adding up and keeps growing every time a player bets on a game until someone wins and takes away the jackpot.
What are the biggest payouts that can be won?
It is often suggested to place maximum bet on progressive jackpot, because if you don’t, it is very disheartening to win little amount when you win the jackpot.
Megabucks jackpot by International Gaming Technology (IGT) is a well-known jackpot which is progressive available and is known to yield huge payouts. The player has the opportunity to win over hundreds of millions on these jackpot games. Mostly, huge payouts in progressive game jackpots are paid out as an annuity over some years and not as a cash prize.
Wheel of Fortune is another popular slot machine which is famous for having a starting jackpot of $200,000. Looking at the trends, usually, the jackpot is won when the accumulated amount is under $1 million.
What is meant by odds of winning?
The odds of winning are similar to those of winning a lottery, so it is not true that if the progressives size is huge, you have better chances of winning. However, a higher payout game is generally suggested while selecting the progressives to play. Also, the higher you bet, the chances of triggering the progressive jackpot is higher.
However, there are more chances of winning with a slot machine game than by playing a lottery game. The entertainment factor in terms of slot visuals and effects should also be considered into account while choosing between the two. Of course buying 500 lottery tickets would be less thrilling as compared to earning the amount of lottery win within one shot spinning the slot wheel 500 times with free spins involved. Even though a one in million shot is a one in million shot, however, large the jackpot amount is.
One should pay sufficient attention to the term and condition of the casino game before succumbing to bet. Following are little pointers you should consider before opting for progressive games
– There are rules like when you are being paid, you can encash or receive the win amount in an annuity which is the case in most UK casinos. Some casinos also offer to partially encash your win amounts.
– The progressives are recommended to be chosen when the jackpot is sufficiently higher than its maximum usual amount. So, if the accumulated jackpot is 1 million usually, you should probably go for it once it crosses that mark to improve your chances of winning.
– If the value of the jackpot to be earned is higher than the average payout of the slot, chances of a win will be higher.
– There could be different rules of playing similar games in different countries, so the player is required to clearly understand the rules before going for any sort of these jackpots.
– Also, it is preferable to bet in local currency to avoid any sort of exchange rate charges.
– Whatever is the case, you should set a fixed budget for yourself before indulging in any casino adventure and strictly adhere to it, especially when real money is involved.
It would not be wrong to term progressive jackpots as life-changing. However, any kind of over-indulgence is bad especially when it comes to gambling. So, make the best use of progressives by carefully understanding the pros and cons and how, when, and on what to bet, and you should be on a smooth-sailing ride to earn big money.