Playing progressive jackpot slots necessitates a unique set of skills and characteristics. As gamers continue to spend on many slot machines, progressive jackpots climb. Find out how to play them!
Everyone who visits a land-based or online casino site fantasizes about winning one of the progressive slots’ big prizes. Several players feel that if they simply knew how to get it, they have a decent chance of earning such life-changing fortunes.
Today, we will provide you with an in-depth overview of progressive jackpot slots. This includes how to earn those progressive jackpots and your chances of winning in progressive slot machines.
Progressive Slot Machine: What Is It, And How Does It Work?
Progressive slot machines are a type of slot machine that has a large supplementary reward pool. They are distinguished by their ever-changing jackpot payoff. When a player spins the reels, a small portion of their bet goes toward the jackpot prize pool. The progressive prize continues to climb as more players spin the reels.
People call it “progressive” because these slot machines don’t have fixed jackpot prizes. Rather, it increases with each wager placed until someone win the jackpot. Some progressive jackpot slots payout automatically when they reach a certain size. However, most jackpot slots are uncapped and can theoretically grow in size until someone wins it.
Also, the massive payouts of these progressive jackpot slots sets apart them from the other slots machines. Some slots are specifically designed for progressive jackpots. On the other hand, there are progressives that are simply re-imagined versions of existing games, and they are linked to a jackpot network.
However, casinos and game developers sought to discover a method to provide larger prizes without having to put up the money.
In addition, a clever game designer realized that getting players to fund the jackpots themselves would result in larger prize pools. And, this is possible through a process called stake contribution. Furthermore, these would entice more players to finance larger and larger prizes, and so on!
Additionally, this innovation involves millions of players contributing a few cents each for one of you to become a millionaire. Well, you can say that progressive slots are exactly similar to a lottery.
How Do Progressive Slots Work?
Let’s answer that question by going deeper into these casino games. Together, let’s examine the model that allows for such large winnings to be possible.
The Contribution – Progressive Slot Machines
A tiny amount of every wager you place goes to a separate pot to fund the jackpot. Let’s say you play any Red Tiger slot with the Daily Jackpots feature. Therefore, about 3% of your bet goes toward the jackpot pool. On the other hand, IGT’s MegaJackpots take around 2.3 percent of your bet to fun the jackpot prize.
The Seed – Online Progressive Jackpot
Have you ever asked yourself what happens when someone wins the jackpot prize? Also, why does the jackpot do not begin at zero?
Well, the answer is pretty simple and obvious. No one will play a slot machine with a prize of $0 or $10, right? Therefore, progressive jackpots have to begin somewhere and that somewhere is called the seed amount. The casino or game supplier guarantees the “seed” amount. For instance, the prize pool for IGT’s Mega Jackpots™ is seeding at £500,000.
Also, a jackpot prize continues to grow in size as more players play the game. And it does not stop until someone wins the progressive jackpot. In addition, the multi-million-dollar progressive jackpots get all the attention. Yet, progressive jackpot slots come in all shapes and sizes. Some slots have their progressive jackpots of less than a thousand dollars.
Moreover, IGT’s Mega Jackpots games pay out an average price of $846,000, with a jackpot win occurring every 10 weeks.
What Are The Different Types Of Progressive Slot Machines?
Since its introduction decades ago, progressive slots continues to evolve significantly. What began as a single-game jackpot has expanded into prizes supported by an entire international network of casinos. Also, the larger the jackpots and the more often people win the jackpot, the more it engages players.
Here are the different types of slot machines with a progressive jackpot.
Game Jackpot Slot Machine
Ozwin’s Jackpots, for example, has its progressive jackpot. The prize pool is still funded by players from several online casinos.
Network Jackpot Slots
Nowadays, game providers are adding a network-wide jackpot system to their most popular slot games. This allows players to choose from more than 30 different slots and still win the same prize.
Tiered Jackpot Slots
Many progressive slots now include up to four different progressives. Additionally, this ranges from small jackpot pots worth hundreds won every few minutes up to massive rewards worth hundreds of thousands won every few weeks. This adds to the appeal of jackpot bonus games since you’re more likely to win anything while keeping the possibility of the highest prize alive.
With its Daily Jackpots, Red Tiger set the bar for online timed progressives. In addition, they feature small and medium progressive pots that guarantee to payout by a particular time of day.
Because it isn’t connected to a network of other games, this is the most basic type of jackpot slot. Moreover, the prize will only grow if the game is played, not if similar games are played. As a result, jackpot amounts are smaller across the board. A few unique titles with lesser but still significant jackpots are only accessible in land-based casinos.
Also known as proprietary progressives, these are games that are linked to one another within the same network. Also, a land-based or online casino might have a bunch of games that have been linked to a single jackpot pool. To win the grand prize, you’ll need to be playing one of the games located on the premises of the casino.
Wide Area Progressives
These land-based or online slot machines are networked across numerous casinos. Therefore, they are the progressive jackpot slots that give the greatest jackpots. You’ll be part of the same prize pool as someone from another state, regardless of where you are.
The All-Time Biggest Jackpot Wins
Furthermore, the goal of playing a progressive jackpot slot machine online is to win a large prize. Over the years, there have been a number of them. In this list, we include the world’s largest jackpot wins, as well as other interesting information.
- Mega Moolah is the highest-paying progressive jackpot.
- In Las Vegas, there was a slot machine that hadn’t hit in almost 20 years.
- Mega Moolah is known as the “Million Maker” game.
- One of the biggest progressive jackpot slots winners plays on his mobile.
|€18,915,721||Mega Moolah||Grand Mondial||28 September 2018|
|$20,057,734||Mega Moolah||Zodiac Casino||30 January 2019|
|€17,860,868||Mega Fortune||Paf Casino||20 January 2013|
|$16,496,060||Mega Moolah||Jackpot City Casino||5 April 2020|
|$13,615,861||Mega Moolah||Luxury Casino||8 May 2020|
|£13,212,882||Mega Moolah||Betway||6 October 2015|
|$12,945,603||Mega Moolah||Luxury Casino||5 March 2019|
Progressive Slots FAQs
Which Progressive Slot Games Are More Popular Or Better?
Mega Moolah is without a doubt the most popular online progressive slot game. Also. the game was created by the Microgaming software business and has the world’s greatest prize. Moreover, Microgaming and NetEnt software provide a variety of jackpot slots, all of which are well-known for paying out massive sums of money. If you look at the list of the greatest jackpot payouts above, you’ll see that they’re all NetEnt or Microgaming-developed games.
Can I Play Progressive Jackpot Slot Free Online?
Yes, but you won’t get paid in real money. Instead, you’ll get coins to use in future games. Free slots, on the other hand, are a terrific opportunity to check out a game before committing to it and risking your own money. To locate the best games for you, check out the best online casinos in Singapore.
What Are The Progressive Jackpot Slot Odds Of Winning?
Well, the odds of winning the jackpot prize depends on the game itself. The chances of winning a life-changing sum, let’s say $10 to hundreds of millions, are 1 in 50 million on average.