Progressive Jackpots in Casino Slots: Betting Guide

By far, progressive jackpot slot machines are one of the most popular games in a casino. Why is that? Here you can win millions if you hit the jackpot. Of course, you win without spending a fortune. On the side of the note, what are progressive jackpots in the online casino today?

What are progressive jackpots?

Progressive jackpots are the grand prize amounts that increase gradually. The amount will continually keep on climbing until a player wins. In case the progressive jackpot is hit, then, the jackpot for the next play will be reset to a predetermine value. Thus, it will resume keeping on growing under the same rule.

How do progressive jackpots work?

Many slot machines and video poker games that you will find nowadays have progressive jackpots. Thus, the jackpot of these progressive slots increases by a small-predetermined amount every time a person plays the game.

Furthermore, multiple slot machines are pooled or linked together. Therefore, it will form a sizeable progressive jackpot that grows more quickly. Moreover, the progressive jackpots tend to increase from thousands of dollars up to millions of dollars.

This goes for shared online casino jackpots, too. Thus, there can be a group of casinos sharing the same progressive jackpots through one or more games. These slot machines are called progressive slots wherein the grand prize pertains to progressive jackpots. The reason behind this is that the amount keeps on growing until someone gets that most sought-after winning combination.

So how does progressive jackpot work in casino slot?

Then again, progressive jackpot builds over time until someone hits the jackpot. Then, the amount will reset to a predetermined prize and start increasing again. The way the progressives build is by taking a percentage of every bet made on the progressive slots. Thus, this percentage will keep on adding to the jackpot amount.

To explain further, we will give you an example so you can understand how progressive jackpots work. Thus, this example is fictitious and does not necessarily represent the real-life progressive slot game. However, they are an accurate representation of how the mechanics work.

How does progressive jackpot increase?

For an instance, slot machine A takes 10% of every bet. Then, casino places it on the progressive jackpot amount. When Player A hits the jackpot of $401,500, then, the progressive jackpot will reset to $200,000. After that, the reset amount will generally accumulate from the contributions to the overall amount again.

In this case, 1% funds the next reset amount. Then, the 9% will go straight up to the progressive amount until the $200,000 accumulates to the reset account. Once the slot machine accumulates $200,000, then, the entire 10% will be used for the climbing progressive jackpot.

Another way to handle the progressive is if the software provider or casino operator fronts the $200,000. Then, the 10% will go toward that until reaching that amount. Consequently, the progressive jackpots will continue growing until someone hits them again.

How does progressive slot machine work?

Going back to our example, let us say you are playing for a total cost per spin of $2.50. Here, 0.25 of each spin is contributing to the amount of progressive jackpot. Likewise, the remaining $2.25 is handled the same way it is on non-progressive slots. Furthermore, the profits and payouts will be taken out from this second amount as well.

It is a common belief that casinos are getting a huge cut on progressive jackpots. Truth is, the casinos do tend to make more money on large progressive slot machines. Yet, it is not because of the cut they are getting on the jackpot. Well, the casino is paying out 100% of the jackpot from the jackpot amount and the reset amount.

Thus, the house makes a profit from progressive slots because of the extra players who are trying to hit the jackpot. To simply put:

If the slot machine is set to pay out 90% over time, then, the house makes 22.5 cents per bet.

Total Bet: $2.50

Contribution to Progressive Jackpot: $0.25

Paid out to players (Ave. over time): $2.025

Profit of Casino (Ave. over time): $0.225

Different Types of Progressive Jackpots

Standalone Progressive Jackpots

This type of progressive jackpot is not associated with any other slot machine. Thus, different players use the online version of these slot games at any time. Moreover, there is a big chance one of the players might hit the jackpot before you do. However, the trade-off is likely to be higher as a result.

For land-based casinos, this means that you are the only one to win the standalone progressive jackpot as long as you are playing the machine.

For both cases, the standalone progressive jackpots are smaller than those of linked slot games are. Usually, the jackpot amount is under $10,000.

Local Progressive Jackpot

Rather than a single machine, local Progressive jackpots are bind to a certain location instead. For online slots, this jackpot can be flexible. Thus, the casino operator can choose to limit the jackpot to a single title. Alternatively, they can offer it across multiple different slot games from the same software provider.

For land-based casinos, these slots machines work like a local area network (LAN) gaming. Likewise, the slot machines in a single location are connected to a single jackpot. Thus, anybody can hits the local progressive jackpot on any of these machines. Mostly, this jackpot will all duplicate on the same title.

Network Progressive Jackpot

Network progressive slot machines offer the largest jackpot among the others. For online casinos, this jackpot is offered across multiple online casinos that feature the games from the same software provider. For land-based casinos, network progressive jackpots mean multiple slot machines from different casinos linked together. Usually, these networks are all confined to a single state.

How do I qualify for the progressive jackpot?

Progressive slot machines require a maximum bet so that you will be eligible for the jackpot prize.

Do you hit the winning combination to win the progressive jackpot?

Yet, you have not placed the correct amount of bet, then, you will not win the progressives. Therefore, you should know how to qualify for the jackpot.

Place an eligible amount of bet

For progressive slots, you need to place the minimum amount of bet to qualify to win the jackpot. If you fail to bet the minimum or higher amount, then, you are not eligible for the bonus feature that leads to progressive jackpots.

Know when the slot machine is hot or cold

In actuality, slots jackpots winning combinations are completely random. Thus, figuring out when the slot machine is going to pay is impossible. Still, it is worth knowing when progressive slot games are hot or cold. Thus, a progressive slot game that is hot will award the lucky player with so much cash.

Play the slot game you enjoy

Playing slot is all about having fun as well as winning some money. Therefore, ideally, you play the one you enjoy playing and hope that you will hit the jackpot in the process.

Always check on your bankroll

Take note that progressive jackpot slot machines have a lower RTP percentage. This means that you might lose more money while chasing the lucrative jackpot. Make sure to adjust your bet or set the length of your playing session. Therefore, you do not have to spend all the cash on your bankroll.

Know the game’s volatility

For progressive slots, the higher the volatility is, then, the greater the risk of losing money without getting a payout. Likewise, they also offer the largest jackpots.

Where can I play slot games with the progressive jackpot?

You can play progressive jackpot slot machines at land-based or online casinos. Remember to check the licensed operator of an online casino to ensure that the slot machines are safe and secured.

Some of the online gambling websites we feature in our reviews offer free slots games. Potential gamblers who are slot games players should take this opportunity to try out and play online slots games that they like and learn about the pay-outs of those slots games so that they may know how to maximize their wins! Many of the online casinos featured on our website do offer Jackpots.

Progressive Jackpots FAQs:

What are the most popular progressive slot games?

The most popular progressive slots are Mega Fortune, Mega Moolah, and Mega Fortune Dreams. You can also add to the list from Mega Moolah Isis – Microgaming and Arabian Nights – NetEnt.

How do progressive slot machine jackpots pay?

The casino operator or software provider determines the payments for progressive slot jackpots. Normally, you will get your payout in installments over some time.

What are the odds of winning the most sought-after progressive jackpot?

The odds of winning a progressive slots’ jackpot will depend directly on the game you are playing. For instance, the odds should be consistent in a network progressive. Likewise, an online casino would not be able to offer better odds than the other would. For this reason, that fairness is their top priority.

How often do progressive jackpots hit?

Hitting the progressive jackpot is purely random. Thus, we cannot predict when will it payouts. Some progressive slot games go years without a winner. While other slots payout almost every month. If we are to include the lower-level jackpots, then, most progressive slots pay every day. Still, those amounts cannot be compared if you are to hit the jackpot of the progressive slots.