Progressive Jackpot Slots
Slot machine games have a long tradition that successfully expanded onto the virtual world and settled across online casino websites. It is a colourful array of amusing games, a bit distinguished from the context of mere gambling with a massive choice in thematic and gameplay accessories. They are packed with entertainment, but can you win that huge prize every gambler dreams about by playing a video slot machine? If it’s a progressive jackpot slot machine, you most certainly can. In case you aren’t familiar with the progressive jackpot feature, we’ll try to put together a guide of some sort for you to use as reference in finding out what a progressive jackpot is, how big these prizes can actually get and did any mortal human succeed in winning them.
What is a progressive jackpot?
Jackpot prizes used to be fixed amounts, but sometime in the 1980’s the progressive jackpot emerged and players began interpreting it as equal to a life-changing fortune and not just a big win here and there. When the game is progressive the jackpot is expressed in a rising fund, to which every player involved contributes. Each bet placed by individual players helps build the progressive jackpot prize, because a certain tiny part of it gets added to the total. Usually, 1% of the wagers is being accumulated in a sum we denominate a progressive jackpot. The more players participate, the bigger the reward. And you should know that online progressive games have gained on progressive jackpots alike powered by land-based casinos in Las Vegas for example, in terms of value.
Types of progressive jackpots
As it gained popularity, casinos worked on strategies to develop more situations to which a progressive jackpot can be applied. The least complex type of progressive would be the one attached to only one game, sometimes denominated a standalone progressive. Only bets placed on a specific game enter the jackpot fund and the slot has no attachments to other games or other casinos. The outcomes of this are relatively small jackpot prizes that can be won at a quicker and easier pace than bigger, more spread jackpots.
Then we have local or in-house progressive jackpots. This is a prize that that is only awarded at machines that are linked together inside a particular casino. The casino owns and operates the machines, and only players who exclusively visit this casino get the chance to win its jackpot. An example of a local progressive jackpot would be Net Entertainment casino with games like Mega Joker, Tiki Wonders and Super Lucky Frog. What happens in this case is that you can encounter different values for the jackpot on the same machine at the same time, because it is hosted by separate casino websites.
And finally, there is the network progressive jackpot, or otherwise called wide area progressive. In this case multiple machines are linked at unrelated casinos and operated by a separate operator, a centrally-located server, rather than one provider company. These jackpots have a following counted in millions, which is the reason for the fund to reach astronomical amounts of money. An example of a network progressive jackpot would be Megabucks by IGT, among many others.
How big can progressive jackpots get?
Millions of players can easily amount to millions in prize worth. An extremely popular progressive jackpot slot machine Mega Moolah by Microgaming pays out an average of €3.6 million in jackpot money. Some of the biggest amounts won in recent past include a €4.1 million jackpot that went into hands of a man from Stockholm who played Arabian Nights. The previously mentioned Mega Moolah awarded a lucky Finnish player with a €5.5 million progressive win. However, the record-breaking wins are as high as €11.7 million and €17.8 million, respectively, both cashed out from the Mega Fortune slot from NetEnt. As you can see, these are real fortunes we are talking about that could utterly change the course of someone’s life. And to think a single spin of the reels could be all it takes to obtain one makes the whole ordeal so much more intriguing and exciting.
A couple of useful facts
One spin might be all it takes, but previously pay attention if the casino requirements mention max bets in order for someone to be qualified for the progressive jackpot win. Even if this isn’t a prerequisite, you might regret not betting the maximum if you do win and the payout results smaller in value. It’s how progressives work.
One other thing you should keep in mind is that not all casinos let you withdraw the jackpot the same way. Policies differ from one casino to another and in most cases casinos pay out smaller portions of the prize on a weekly or a monthly basis.
If you are a skilled gambler and enjoy games like roulette or blackjack, you are most likely never going to experience the life-altering shock of winning big. The payout on these games simply can’t come close to progressive jackpots you see on slot machines. So if you decide to slide into the high-roller category progressive slots is the way to go.