You know those casino-themed movie scenes when someone hits the jackpot? The screams of excitement and the sound of coins from the machine make you want to head to the first casino and try your luck. Even more motivating is that some jackpots can amount to millions of dollars, and that is precisely the kind we’ll be discussing today – progressive jackpots!
What Is a Progressive Jackpot?
A progressive jackpot is the biggest amount a player can win in a particular casino game. Progressive jackpots are usually available on slot machines, but other games offer them, too. Also, you can win a progressive jackpot in traditional and online casinos.
The interesting thing about these types of prizes is how they are created. The more players participate, the winning amount gets bigger, as everyone contributes when placing a bet – hence the progressive nature of the jackpot. Also, when someone wins, the jackpot restarts to a predetermined amount.
One thing to bear in mind, though, is the wagering requirements that make you eligible for such a reward. Therefore, prior to starting a game, familiarize yourself with the specific terms to avoid getting in a position where you hit the winning combination but didn’t wager with the required amount. In that case, you won’t receive a progressive jackpot.
When We Say Progressive Jackpots, We Think Slots
As we mentioned, slot machines are primarily associated with progressive jackpots, although you can find a casino offering these attractive rewards to those playing table games or video poker as well.
As for slots, you may likely find a progressive jackpot tied to more advanced video slot machines. Still, don’t be surprised if you come across a three-reel slot offering it as well.
Slots are among the most popular casino games worldwide due to their simple gameplay and attractive prizes. In addition, regardless of whether they are progressive, slots require no strategy from the player.
With that in mind, it’s understandable why both traditional and online casinos offer them.
Since the proliferation of online technology, they are even more popular on the web thanks to the advances in technology enabling game developers to create new and update existing titles constantly. Still, choosing a trustworthy online casino is critical before trying your luck for the next jackpot.
For instance, jackpot games at SkyCity are carefully curated to meet everyone’s taste and gambling aspirations. The company offers some of the most popular and generous progressive slots, such as Mega Moolah and Wheel of Wishes.
Other popular games offering progressive jackpots that you can find online are Monster Madness, Queen of the Pyramids, and Stars and Stripes, to name a few. But, again, hundreds of titles are available on the market, and the number will continue to grow.
We must also do justice to land-based casinos, which laid the foundation for the popularity of slots. There are many who still prefer going to a physical establishment and trying their luck on machines like Wheel of Fortune or Millionaire 777s.
How Do Progressive Jackpots Grow?
At first glance, the math behind progressive jackpots may look complex. But, the way these prizes get accumulated is pretty straightforward. First, there is a set amount that gets bigger as more players place their bets. Then, after the winning round, the machine restarts to the initial amount.
We’ll use some random/made-up amount to best illustrate how progressive jackpots work. For instance, the initial amount is $10.000. It’s the amount you could win if you hit the winning combination practically a second after the previous winner. If you don’t win, a percentage of your bet gets added to the initial amount, so it gets bigger with every new player added.
But it’s critical to understand that even the first figure (the seed amount) comes from a percentage of your bet. So, when someone wins a progressive jackpot and the new round starts, your bet gets split into a smaller part used to fund the initial amount, and the rest goes for growing the jackpot.
Let’s say the machine takes 5% of every bet for a progressive jackpot amount. So they’ll take 2% to fund an initial amount and 3% to grow the jackpot. Once the machine collects, in our case, $10.000 for the reset amount, from that moment on, the whole 5% goes for growing the final progressive jackpot amount.
Here comes the exciting part. In many cases, a casino connects various games to collect one large progressive jackpot. And that’s not all. The connection can be made between multiple casinos. Imagine the number of players contributing to that jackpot!
More players mean smaller odds of winning, but a mind-blowing, life-changing payout if you do.
So What’s the Deal With Casinos Sharing the Same Jackpot?
When we say sharing, we don’t mean casinos split the progressive jackpot amount. No, they create a network in which they agree on the games/machines accumulating the progressive jackpot.
Another term is the wide area or linked jackpot. The bottom line is that it grows faster due to the large player base, but the methodology, as discussed in the previous section, remains the same.
Another option is the so-called in-house or local progressive jackpot. The whole process happens in one casino, where one jackpot is tied to multiple machines. It also leads to quite an impressive amount as more players can contribute to it simultaneously. This is somewhat amusingly illustrated in a scene from Martin Scorcese’s film ‘Casino’.
Finally, there is a standalone jackpot. That one is tied to one game and one machine. There’s no connection between devices; just one player at a time can contribute to the amount.
When potentially millions of dollars are in play, our chances to win them as a jackpot are about a million to one. But that should not discourage you. After all, by their nature, slots are simple and fun, progressive slots included, so you might as well give them a shot.
