Blog Posted on 09/10/2014 | Author: Karen Macarthur
Understand the Concept of Progressive Jackpots
Every gamblers dream is to win the huge Progressive Jackpots at the end of every slot spin. Growing to a staggering amount every minute, this pile of cash is just waiting to be won. Line up the winning symbols to enjoy the thrill of landing the jackpot.
Usually Slots come to mind when discussing Progressive Jackpots. But some casinos offer progressive Blackjack, Roulette also. The wagered bet is mostly in the form of side bets and is comparatively smaller than those seen in slots.
The most widely played online slots are the Mega Moolah, Dark Knight, Wheel of Fortune, Deal or No Deal among others. Individually all these slot games have paid out jackpots in terms of millions till date. The Progressive Jackpot slot games at the Vegas Mobile Casino are the Sweet Treats, The Only Way is Slots, Knight’s Jackpot.
Variations of Progressive Jackpots
Basically there are three types of Progressive Jackpots.
- Standalone Progressives – A rarity among all the jackpots, these slot machines feed the jackpot only on that machine. Found mainly in the land based casinos, they usually have smaller jackpot limits for the slot game.
- Local Progressives – A single casino has set up a network of slot machines which are linked to be progressive. This can include a dozen or even hundreds of slot machines depending on the size of the casino. It is usually seen in land based casinos.
- Wide Area Progressives – The slots are linked to other slots over a network consisting of various casino websites. Usually they are independently operated rather than a single company. As the jackpot is fed constantly from different sources, it can grow to huge amounts. Although the cost of linking and maintaining the machines is huge so is the chance of winning big. Thus making it the most popular variation of the slot games.
How Progressive Jackpots work?
Every casino all over the world uses the casino software provided by companies such as Microgaming, PlayTech, IGT, NextGen among others. They are linked by an interconnected network. The players can play the same slot game anytime, anyplace. Every bet wagered by everyone in a land based or online mobile casino game contributes a small fraction of it to the jackpot. This jackpot keeps growing until it is won by a lucky player. Only when the players wager maximum bet on the slot machines will they be eligible to win the Progressive Jackpots.
The reason why the Progressive Jackpots grow to such enormous amounts is because they rarely hit. The odds of landing a jackpot with maximum wager are quite small, and require thousands of gameplay for a single slot game.
Another reason is that it is fed by a network of online casinos throughout the world. Adding small bits to make it huge.
If more than one player lands a jackpot, the amount is split among them. The Progressive Jackpot resets to a minimum value set by the casinos and the process repeats again.
What makes Progressive Jackpots popular?
In terms of playing or rules, design or themes, these progressive slots are similar to the regular slot games. The chance to win the life changing amount is a compelling factor for making the Progressive Jackpots popular.
Other than this, it is the thrill of watching the constantly updated jackpot progress meter that is prominently displayed on the websites. Watching this entices the players has a shot at playing the progressive slots.
How casinos payout Progressive Jackpots wins?
The rules for cashouts vary among the casinos. There is limit to the amount paid out for each player. But for the Progressive Jackpots wins, the rules are different. They can be paid out in one lump sum or in parts. They are required by law to declare the wins for tax returns.
Future of Progressive Jackpots
Looking at the current scenario, Progressive Jackpots are going to be around for a long time. Increasing online technologies with fast, secure internet is making the casinos invest more time, effort and money into Progressive Jackpots.
The recent burst of mobile casinos has brought this large untapped mobile market into focus. Newer games with interesting themes and gameplay for this platform are being developed. It makes playing for the jackpot worthwhile.
Although currently only a small fraction of the games has Progressive Jackpots, it is likely that fans will have a wide game variety in the future. The one big chance to win the life changing cash prize is what drives the players to keep playing.