A Detailed Look on Progressive Jackpots

Many online casinos mark a clear separation between classic slots and progressive jackpot slot games. Why is there a difference when every slot machine has a "jackpot prize"?

Well, there are different reasons behind this idea, and one of them is the fact that progressive jackpots keep on increasing until someone wins it.

Every qualifying stake in progressive slot games contributes to the jackpot by a modest percentage of the total amount bet. It can be won either randomly, or by completing a special bonus game. The prizes that can be won are on par with those that can be won in your state lottery, if not better!

What Is the Strategy for Playing Progressive Jackpots?

After any spin, you have the chance to win a special slot's payout at random. Besides, the longer the prize remains unclaimed, the larger it gets in value.

When you play progressive jackpot slots, a percentage of every bet you place is added to the jackpot pool. This sum is referred to as the "meter" in some circles, and it is generally drawn from several slots at once.

For example, if multiple gamers are all playing NetEnt's Mega Fortune at the very same time, they will all be adding to, and competing for the same jackpot prize amount. Most progressive prizes are linked to multiple casinos. When a game is offered by more than one casino, the jackpots might become quite large.

The best part is that when a progressive jackpot is won, the jackpot will be "seeded," or reset, to a certain amount of money. Jackpots on the world's most popular progressive slots can be reset up to $, ￡, € 1,000,000.

Mechanics for Winning a Progressive Jackpot

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To begin, let us define what a progressive slot machine is and how it operates. Upon spinning the wheel, a set of random values is selected. The jackpot will be activated if the correct algorithm is chosen.

You can, however, win a progressive jackpot through several different methods, including one of the following:

Using The Highest Possible Stake

You will only be able to win a jackpot on some online progressive slots if you place the highest possible bet on the game. However, a large number of progressive jackpot games provide different prize levels to accommodate players who play for lower bets.

When you play the reels of a high-stakes progressive slot game, you are awarded a ticket. As you place more bets, you will receive additional "tickets." In addition, if any of your tickets match the algorithm upon spinning, you are eligible to win the large jackpot prize.

Winning a Jackpot at Random

These are awarded after any spin and are worth a lot of money! You will not be required to participate in a special bonus game or to land on specific symbols to win the jackpot.

To qualify for the prize, you may, however, need to place the largest possible wager.

Symbols Combinations

The combination of particular symbols on a chosen payline is required to win the progressive jackpot. For example, if you line up five unique symbols on the 15th payline, you may be eligible for the progressive jackpot prize. Land the winning combo and walk away with the largest payout.

Bonus Game Participation

In many online progressive slots, there is a special bonus feature that may be activated at any time throughout the main game. Your jackpot size may be determined by spinning a prize wheel, or you may be required to pick cards from a collection displayed on a computer screen to win the jackpot. To win the relevant jackpot prize, you must match three to four of these cards.

Random Number Generators (RNGs)

In order to be successful when playing a progressive jackpot slot, it is crucial to understand random number generators (RNGs). Real-time random number generators (RNG) control all video slots, ensuring consistently fair gameplay.

An RNG is used in the operation of progressive slots as well. They are in charge of determining when a jackpot or bonus game will be activated. There is no reason to believe that a jackpot will suddenly become available if it has been unclaimed for several weeks.

Jackpots That Must Be Dropped

Several online progressive slots include jackpots that must be won. A strict time limit is set for the triggering of these. So as the deadline approaches, they tend to draw in a greater amount of money.

What Is the Maximum Amount That Progressive Jackpots Can Offer?

Unless a top prize is claimed, progressive jackpots can balloon to ridiculous levels. In addition, the more easily accessible a slot machine is, the greater the likelihood of winning a significant prize.

A progressive jackpot that has remained unwon for long frequently draw the attention of a large number of people. It is fairly uncommon for jackpots to grow at a faster rate the longer they remain unpaid.

The largest progressive jackpot was won by an unidentified Android mobile gadget gamer in September 2018. This was after staking 75 cents on Mega Moolah, and he went ahead to win the top jackpot of ￡22.3 million in under 50 spins.

Another Mega Moolah record was set in October 2015 by a UK-based soldier named Jon Heywood, who turned 33 cents into ￡21.1 million. This earned the winning Jackpot game the Guinness World Record title for "Largest jackpot payout in an online slot machine game." 

In the previous years, an unidentified Finn was the winner of the record payout, having won an incredible ￡20.5 million on Mega Fortune.

In comparison to land-based casinos, online progressive jackpot payouts are significantly lower. During a game of IGT's Megabucks slot machine at the Excalibur in Las Vegas back in 2003, a young software programmer won an incredible ￡39.7 million.

Locating Progressive Jackpots

The majority of online casinos group their slot machines according to type. For instance, a casino might include a dedicated “Jackpot Slots” tab where you can access all of the casino's progressive jackpot slots in one convenient location.

In their lobby, nearly all casinos will highlight the current jackpot meter for all qualifying games. It's quick to see which games are currently offering the largest jackpots at any one time on the website. A list of the biggest winners at the casino on that particular day can also be seen here.

Progression Jackpots Can Be Classified into The Following Categories:

Depending on how many people participate and how many separate machines are connected, the quantity of the jackpot might fluctuate significantly.

The three types of progressive jackpots that you will encounter in a casino are as follows:

Bonus Games with No Strings Attached

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Each casino has a single machine with a solitary progressive jackpot, which is only available on that machine. As a standalone machine, it is not connected to any other slot machines or to a larger network.

Jackpots in Your Neighbourhood

When many machines in a single land-based casino location are combined together to form a local jackpot, the term "in-house" is used to refer to the accumulated jackpot.

In some casinos, the machines are gathered together in one place, while in others, they are scattered around the casino floor. The same local jackpot may be shared among four or five different games at an online casino.

There are also instances where local jackpots are divided across a number of machines at casinos controlled by the same company.

Network Progressive Slots

The biggest jackpots are found in network progressives. Popularly referred to as "wide-area" progressives, these are linked to several casinos and can be played at the same time in multiple locations.

The same wide-area jackpot might be offered by various brands of slots. The qualifying bets, on the other hand, are all added together to form one large prize pool. Winning a network jackpot is extremely unlikely, but the rewards can be enormous.

Odds of Winning a Progressive Jackpot

Let's start with the good news: when you play a progressive jackpot slot, you have the possibility to turn a tiny bet into a payout worth five or six figures.

Here's the bad news: the chance of winning the top prize might be as high as a million to one, which is extremely unlikely.

To give you an example, the odds of winning the Mega Moolah slot machine (Microgaming) are approximately 50 million to one! There has never been a jackpot payout of this magnitude in the game's history.

Some progressive jackpot slots in Las Vegas, on the other hand, offer even worse odds of winning the jackpot. Games with odds of 1 in 150 million to 1 in 300 million are available, according to some sources.

Conclusion

Players will always seek ways to beat the odds and win a massive progressive jackpot, just like they do when playing the lottery. If this is your dream, don’t give up. Your name might be on the list of those who will get a large sum of money in the future.