Progressive jackpot 101
Slot machines have been present for a long time on the casino scene. However, the concept of progressive jackpot emerged a little bit later. Progressive jackpots were introduced in the beginning of the 1980s. This is the time when the first micro chips were used in slot machines. Officially, they have started paying off people in 1986, when IGT, the famous slot machine manufacturer introduced them.
The opportunity to win the same jackpot that is grown from more than one slot machine (in some cases these machines are present in more than one casino) is attracting thousands of players. This also means that progressive jackpots can easily grow. Today, some casinos, both traditional and online, are offering games where progressive jackpots are worth a few million dollars.
What’s the science behind progressive jackpots?
The ability of progressive jackpots to grow is based on their unique concept to accumulate the money from every bet made in the network of slots. In other words, the payout rate on ordinary, non-jackpot wins is lower compared to ordinary slot games. But, when the progressive jackpot is added to the equation the payout is exactly the same.
For instance, in case you are playing a slot game in some popular online casino that is offering progressive jackpot wins with a fixed 2.5 GBP bet for each spin you will get a specific distribution of your investment. Typically, about 12 pennies go to the progressive jackpot, 0.62 are for the casino and 1.75 GBP is for nonjackpot wins. In case you are playing ordinary slot game at the same online casino that doesn’t have a progressive jackpot, your bet will be separated into just two parts – 0.62 for the casino and the rest paid out whenever you win a line.
So, this example is based on a situation where the casino is providing a 75% payout rate. If you take a closer look at modern slot games in online casinos, you will find out that the payout rate is somewhere between 89% and 99%. This means that you have more chances to win money online.
A reputable online casino that is providing a 95% payout rate will offer different distribution of your money. In case you are using progressive jackpot slots in an online casino and you use 2.5 GBP per spin, you can expect that about 12 pennies for to the online casino, 12 pennies go to the progressive jackpot and the remaining 2.25 GBP go to non-jackpot wins.
So, once we analyze all these figures and possibilities, you probably won’t be surprised to hear that more and more casino players are turning to online casinos and online slot games. Of course, there are few other reasons for that.
Online slot games with progressive jackpots
The only downside of online casinos is that you won’t feel the same atmosphere like the one found at traditional brick and mortar casinos, but everything else is better. Even the total amount of large online progressive jackpots is better. There are currently a few progressive jackpots offered in online casinos that exceed one million pounds. In addition, there are dozens of them worth tens of pounds. These offers simply cannot be compared to the ones found in land-based casinos where these progressive jackpots are growing slowly. Additionally, as we said before the number of online players is growing which is why these jackpots are progressing even faster. Experts expect that the world record related to progressive jackpot will soon be beaten and that these records will continue to change in the following years. This is quite logical because with online slot games the opportunities are endless.
How to choose a winning online progressive jackpot game?
Selecting the best progressive jackpot that you should play is not very difficult. All you need to do is to choose a good online casino and make sure that the progressive jackpot is offered in a game made by a reputable casino game developer. There are literally dozens of online casinos out there, but you need to stick to the ones that are licensed and insured. Use a review website to learn more about the basic information related to the online casino that you are interested in.
Of course, just like in the case of land-based slot games, online slot games come with a different number of pay lines and different styles, so you should pick your favorite carefully.
In order to boost your chances of winning, it would be best to focus on two types of slot games. First of all, you should look for a slot game that has been accumulating this jackpot for a long time. This means that someone will probably hit the jackpot soon. The other strategy is to use games where progressive jackpots are awarded on a regular basis.