Although many players go to a casino primarily to have fun, there is hardly anyone among us who plays even remotely frequently and doesn’t secretly hope for a huge, unexpected win. There is nothing wrong with this at all. In fact, one of the biggest appeals of online and land-based casinos is hidden in this very possibility, no matter how remote.
There are many ways to win in a casino. You can have a lucky run on slots or a great streak on roulette. You could win 20 blackjack hands in a row. All of these occurrences can result in some very big wins compared to your bets. But unless you’re a high roller, you aren’t likely to win hundreds of thousands (and certainly not millions) playing your regular games.
And while not all of us are too concerned about becoming millionaires, it certainly wouldn’t hurt, and it is something nice to dream about. Casinos, never being the ones to let us down, have come up with a way to offer this dream even for the lowest-stakes players by offering progressive jackpot games.
What Is a Progressive Jackpot?
Most casino players are familiar with the term “jackpot,” usually used to denote a big (if not the biggest) win on a particular slot or a game. In fact, the word has become so commonplace that today it is often used in other life situations. For example, when you land a great job, you’ll often say you “hit the jackpot.”
The other part of the phrase is quite self-explanatory. Progressive means this jackpot accumulates over time. With every bet a player places on a progressive jackpot game, the big prize increases ever so slightly. Given enough time and enough players playing, the amount can quickly reach into the six- and seven-figure territory.
Accumulating Progressive Jackpots
At different online casinos, there are dozens of slots and table games that offer huge jackpots on a regular basis. If you’ve been wondering how this is possible for a small casino, for example, you need to know that there are two types of progressive jackpots:
- Network (company) wide
- Local (single casino) jackpots
Network-wide jackpots are the ones sponsored by casino networks and game providers such as NetEnt or Microgaming. Their slots are available across hundreds of online casinos out there, and jackpots are accumulated on all of these casinos where a particular jackpot game is offered. This means that every time someone spins the reels on one of these jackpot slots, a small amount of money is added to the pool.
If you consider the fact that there are many casinos out there and all of them allow for a practically infinite number of players to play the same machine at the same time, it isn’t hard to see why popular games reach these huge amounts on a regular basis.
Single-casino jackpot games are specific to a particular casino. This means that the money is accumulated only from the players playing the game at that casino. Consequently, these are usually smaller in proportion but can still be quite good, depending on how many active players a casino has.
Who Pays the Progressive Jackpot?
Sometimes, players are hesitant to play big jackpot games at smaller casinos out of fear that, if they happen to win, the casino wouldn’t be able to pay them. However, with large, network-wide progressive jackpots, you shouldn’t worry about this, because they are paid by the company (network), and the accumulated money doesn’t go out of their pocket, either.
With local jackpots, whether they’re in a live or an online casino, the jackpot is paid by the casino. In this case, there is no shame in being careful about where you play. As always, staying careful and making sure you only play with reputable casinos is a good practice.
Most Popular Progressive Jackpot Games
You have a choice between many various progressive jackpot games these days, especially online. Most of them are, of course, slots. Because of their general popularity, slots are able to pull in a great number of players, which results in big and relatively frequent jackpot payouts.
Some of the currently best-known progressive jackpot slots include:
- Mega Moolah and Mega Moolah Isis – two versions of the same slot, sharing the same progressive jackpot. The game belongs to Microgaming, and the biggest jackpot ever won on it was to the tune of £13.2 million ($16.8 million).
- Mega Fortune – the most popular progressive jackpot slot by NetEnt, Mega Fortune has produced a number of seven- and eight-figure winners. The biggest jackpot won to date stands at €17.8 million ($20.3 million).
- Jackpot Giants – a progressive slot by Playtech, Jackpot Giants isn’t as omnipresent at online casinos, which is the reason why wins aren’t nearly as frequent. In fact, to date (2018), this jackpot has only been won once, to the tune of $6.4 million.
Of course, there are many more progressive jackpot slots out there, and new companies like Yggdrasil are launching their own versions as well. If you’re interested in chasing these huge wins, options are pretty much unlimited, and you can rest assured you’ll get paid if you do strike lightning, because these sums are guaranteed by multi-million gambling companies with great reputations.
Table Games with Jackpots
Although various table games aren’t as popular as online slots, there are still quite a few progressive jackpots for table game players.
- Roulette Royal (Microgaming)
- Caribbean Draw Poker (Microgaming)
- Progressive Baccarat by Playtech
- Progressive Let’em Ride by RTG
- Cyberstud Poker (Microgaming)
Lately, many live game providers have also been introducing progressive jackpots for their live dealer tables, so you can find progressive roulettes and poker games dealt by flesh-and-blood dealers as well.
What Are the Odds of Winning a Progressive Jackpot?
Progressive jackpots on games such as Mega Moolah can often reach $10 million or more. With such a big number up for grabs, it is only natural for your imagination to start working. But like all of us, you’re probably wondering how likely it is that you’ll be the lucky one to win all that beautiful money.
There is no one-size-fits-all answer to this question. Your odds of winning a big progressive jackpot depend on many factors, including the number of players competing for that same jackpot. The good news is that you’re not any more or less likely to win than the next person. The process of awarding the jackpot is random, just like everything else with the slots.
Is the Jackpot Ever Due?
Among the players who like chasing progressive jackpots, there is often this idea that, after reaching a certain number, the jackpot becomes due and is bound to hit in the next couple of days. As already explained, the process of awarding the jackpot is completely random, so there is nothing to really back up this claim.
However, very often, once this tale starts spreading, the jackpot does happen to hit soon, giving new life to the myth. Why does this happen?
The best explanation for this is in the fact that the sudden surge in interest produces a much larger number of spins in a short period of time. This, naturally, increases the likelihood of that one special spin happening. If the number of spins quadruples in a short span of time, it is four times as likely the jackpot will drop.
Conclusion: Are Progressive Jackpots Worth Pursuing?
Now that you know how progressive jackpots work and that hitting them can be quite a challenge, the question to ask is whether they are even worth pursuing. Are you better off just playing regular slots and hoping for some big wins, or should you stick to chasing jackpots and chase that one, highly unlikely hit?
Once again, it is impossible to give an answer that would suit everyone. It really depends on your reasons for playing, your expectations, and what gives you the most pleasure. After all, gambling is (or should be) a form of entertainment. So, you should always be playing games that are the most entertaining and enjoyable for you personally.
If progressive jackpots are in that category, then by all means – go for it. After all, they do present a unique chance to win a life-changing amount of money on a single spin of the reels. Oftentimes, you don’t even have to play very high at all. You can play your usual stakes and wait for the big jackpot to land.
On the flip side, progressive jackpot slots usually have somewhat lower basic RTP (return to player). This means that the same amount of money will last a shorter amount of time when playing a jackpot slot than if you were to play a game with 2%-3% higher RTP.
The bottom line is, as long as you’re playing for fun and only staking what you’re willing to lose, there is no real downside to pursuing progressive jackpots. Although the odds are against you, someone has to win every now and then. There is absolutely no law stating that you couldn’t be that next lucky winner!
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