Jackpot games have become very popular at a wide variety of online casinos. This is an opportunity for a player to win a large amount of money after one lucky combination. Such slots use the progressive jackpot method. Let’s take a closer look at what it is and how the progressive jackpot is calculated in our review.
The Concept of Progressive Jackpot Slots
Jackpot is the player’s maximum winnings. In regular slots, there is the possibility of small but regular winnings. In jackpot games it works differently. Here gambling fans win relatively rarely, but immediately a large amount. And here the so-called progressive jackpot is used.
A progressive jackpot is a jackpot that is generated by players through betting. Gambling fans play the game and make money bets. A certain percentage of each bet is added to the amount of potential winnings. One player, who has a winning combination, takes the entire amount, after which the jackpot again becomes minimal and is formed anew.
The size of the jackpot can be any size. It can be either 1 000 hryvnias, or 1 000 000 hryvnias, and even more. It all depends on how many bets were made before the machine gave out a winning combination. However, there is one more important nuance. Not always players can claim the jackpot. Some slots provide for the restriction that in order to be able to get the maximum winnings, you need to make the maximum bets.
Varieties of Slots with Progressive Jackpot
As a rule, virtual gambling establishments provide several types of slots with progressive jackpots – they differ in the way of forming the maximum prize. Among them we can distinguish the following:
- Home. The winnings are increased within a single online casino. The prize pool is created thanks to one or more slot machines.
- Standalone. In this case, everything is no less attractive than in the previous one. Users will receive less payouts on combinations, but the size of the jackpot will grow many times faster. Players pay less to be able to win serious money.
- Global. This type of jackpots collects impressive amounts of money, forming a common prize pool in several dozen casinos at once. Betting customers around the world create a single jackpot, which can get a random player. In this case, the winnings are based on the value of deductions from the bets made by users, while bets can be accepted from users from all corners of the world, and the figure can increase for a long time.
If the user expects to win big, then you should pay attention to games with a progressive jackpot. Players also call it cumulative. The amounts are larger than those of fixed variants. Jackpots of Red Tiger, NetEnt, Yggdrasil, Microgaming are very popular.
Peculiarities of Jackpots Formation
There are three main ways to form a progressive jackpot. Among them it is worth highlighting such variants:
- Stand Alone Progressive. In this case, the jackpot is formed only on the basis of one slot. That is, only bets made specifically in this machine go to the general fund.
- In House. Several slot machines are selected to form the jackpot and the funds are allocated to a common fund. This fund is reset if someone hits the jackpot in one of the slots.
- Area Wide. It is used for large jackpots. In this case, the jackpot can be formed directly for the games of one provider. The provider receives royalties, and forms a single fund that receives money from all casinos that use jackpot games from this provider.
Online casinos usually inform players about jackpots and the principles of its formation. That’s why the player can choose a slot with the optimal variant of calculation and accrual.
Jackpot Counters
A jackpot counter should be provided for each jackpot game. With its help, players can find out how much money is currently provided in the prize pool. Casinos are happy to publish this information, because it is not only a notification tool, but also a powerful advertising move. Of course, everyone wants to win a million.
Jackpot games are indeed very popular, and casinos usually offer quite a wide selection. However, it is important to remember that you can only play with licensed gambling sites. Otherwise, you risk losing your money. By co-operating with official platforms, you will be able to count on winning.
Chances of Winning the Progressive Jackpot
Where a random number generator works, it is difficult to talk about probabilities. The good news for gambling fans is that any coin spent can lead a player to a jackpot. However, there is bad news too: the odds of winning the maximum prize can be millions to one.
For example, the odds of hitting the jackpot in the Mega Moolah machine, which has produced two of the biggest accumulative prizes in history, are 50,000,000 to 1. However, there are also slots with even lower odds. Land-based machines offer odds of 1 in 150,000,000,000 or even 1 in 300,000,000,000.
The idea of a progressive jackpot is similar to a lottery. No one can predict when and to whom the lucky ticket will fall. However, despite all the disadvantages, there is a plus side: there are still chances to win a tidy sum, which is confirmed by the stories of players’ dizzying upsurge.
How to Find a Progressive Jackpot
Most online casinos organise their catalogues by type. For example, the site may have a separate tab “Jackpot Slots”. It contains all the slots that offer a cumulative grand prize.
The lobby of most casinos displays the current jackpot counter of all eligible games. The user can find out at any time which machines offer the biggest payouts. Nearby is always the Hall of Fame. On this page you can familiarise yourself with the maximum winnings for a certain period.
How Big Can a Progressive Jackpot Be?
The more accessible and popular the slot, the bigger the main prize. If the machine is presented in many casinos, its value increases many times.Accumulative jackpot, which has not been played for a long time, attracts the attention of many players. They further increase the amount of the prize.
The biggest progressive jackpot won at an online casino went to an anonymous user of an Android app. He bet 75 cents on the Mega Moolah slot and after less than 50 spins, he got the jackpot – £22,300,000. This happened in September 2018.
Other Games with Progressive Prize Pools
Progressive jackpots are not limited to slots. You can find them on video poker machines as well. Some table games like Caribbean Stud Poker also offer progressive jackpots on a regular basis. Other table games offer huge ever-growing jackpots on side bets. Even poker rooms have their own progressive jackpots in the form of sidebit jackpots.
In progressive video poker machines, you can actually even determine the break-even point of the game. Video poker machines have known odds because they simulate a real pack of cards. For example, you can expect a royal flush to be revealed to you 1 time for every 40,000 hands. If the progressive jackpot grows high enough, the game will become a bet with a positive expectation, but this is very rare in any casino.
Caribbean Stud Poker is a progressive card game based on the 5-card stud rules and was invented by ShuffleMaster. A progressive jackpot bet wins if the player has collected a royal flush, but you can also get 10% of the jackpot if you manage to collect a straight flush. However, this will require you to make a side bet of one dollar.
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