Jackpot. No other word evokes sweaty palms and dilated pupils on the iGaming stage like the term jackpot. Because a really big win in slot machines is a jackpot win.
Did you know that in the gambling games of your online casino you can win significant amounts at once? The Mega Moolah and Mega Fortune jackpot slots are legendary.
What many players don’t realize: even with small bets you can play for really big money at the Megajackpot. In the language of youth, this term is also used to describe the absolute jackpot.
What is a jackpot in slot machines?
So what is a progressive jackpot? The jackpot is a special prize that is available in the online slot. There are two types of jackpots: fixed-amount or incremental jackpots, so-called progressive jackpots.
Each slot player with a progressive jackpot pays a small portion of their bet to the “bank” per round of play. Thus, the amount in the bank is gradually increasing by the minute.
Many slots have multiple jackpots, both static and progressive. There are some big differences in progressives: some banks are paid by all players around the world, no matter what casino they play.
More is not always better
That’s why there are games that involve fewer players but give a much better chance of winning the jackpot. For example, a jackpot that is played in only one online casino.
Usually one or more games from a developer, for example Microgaming or NetEnt share one or more pots – and let them grow steadily. Usually you can see the jackpot amount over a set of reels.
Some games allow you to play the jackpot only from a certain bet level, in some it even has to be the highest bet. Recently, jackpot time-limited games have become very popular.
What types of jackpots exist?
In detail, there are the following types of jackpots:
• Progressive slot machine jackpot: All players worldwide in all online casinos in all currencies pay a fixed percentage of their in-game bet (e.g. 5%). Often there are additional requirements, for example, only those who play with the minimum amount or the maximum bet participate in the jackpot game.
• Jackpot casinos: as above, but instead be limited worldwide to only one or more online casinos.
• Static jackpots: this is either an interest jackpot (10,000 times the bet) or a fixed amount.
• Jackpot Series: Several game makers play the jackpot. For example, three games from Play N GO. It can be worldwide or just for one casino.
• Jackpot machines with multiple banks: slots where you can win different jackpots. They can be in any of the three categories above.
• Mandatory jackpot: there is a time limit if the jackpot is triggered no later. Mandatory drops may contain fixed or progressive amounts.
When will I finally win 1 million bucks?
Wait a minute, you’re already planning your own family vacation in Tenerife? If so, wait! Millionaires are in no hurry … So, let’s talk about serious facts.
What are the chances of winning? Sure, it’s very different from machine to machine, but there are a few basic principles you need to know.
The chance of winning always remains the same over time (except for mandatory jackpots). If the chance of winning the jackpot is 1 in a million, and after 1 million spins the jackpot is still not paid out, then the chance of the next spin is still 1 in a million.
At first it sounds unprofitable, but it is not. After all, it only means that your chances are always equal, ie. fairly distributed.
However – and here it becomes interesting – it makes a difference if you try your luck. Imagine two identical slot machines: all the same, except that one of them won the jackpot three days ago.
It is now £ 10,000. The second was last hit three months ago. It is £ 2 million. Which one do you play?
Of course, the second. Because mathematically the chances of winning are the same for both. But despite the same chance, the latter pays much more money. What do we learn from this?
Clever jackpot hunters play pots that are already thick and juicy. Not because of the greater likelihood (because there is none), but because of the fatter potential payout when it all starts.