Progressive Jackpots Explained

As the name suggests, the Progressive Jackpot has a cumulative or a multiplier effect, that allows the jackpot figure to swell up till it is hit. It is usually available on a number of video poker and slot games. The Jackpot starts accumulating a modest amount on every occasion when the games are played. The concept of a progressive jackpot is that it includes a number of machines, each of which contributes to the pot. A percentage of the money played into every slot involved in the jackpot, contributes to the progressive score.  Progressive jackpots are voluminous and they can range anywhere between $ 10,000 to $ 1,000,000.

The time frame taken for the progressive pot to grow from hundreds to thousands to tens of thousands is very short. This is what makes it lucrative and enticing. While regular jackpots are set at a fixed amount that does not vary, the progressive jackpot increases with more players trying to hit it. Every progressive jackpot is linked to a bunch of casino games. Players often try their hands out on their most lucky games to increase their luck in hitting gold. The Gin Joint progressive slot game takes players back to the 1920s Chicago times. It is a 5-reel, 20-payline game that comes with a tempting progressive jackpot. If players bust the truck of the Big Boss when it is stacked with 3 barrels, then the progressive jackpot becomes claimable by the fortunate player.

The progressive jackpot meter stands tall and bold, using extra-heavy fonts and LED displays to gain mileage for the jackpot. The house contribution is directly proportional to the house edge. Casinos earn the advantage of attracting a good player base and even recurring players, addicted to hitting the jackpot. Not every player can become entitled to the progressives, as it is restricted to players who wager the biggest credits for each play. Only these maximum-credit bets end up feeding the progressive jackpot. Indirectly, it is a motivating technique for players to deposit more and wager more. The big payout promise is a positive reinforcement of the winning mindset. Normally players do not mind losing a negligible little, from feeding the pot and not winning the jackpot. Their losses today might be small, but the winning potential is ever-present, making the risk-taking worth its while.

Upon striking the winning combination, the machine signals out to the control room. After verification for authenticity of the strike, its heyday and celebration time. It is advisable for players to double-check beforehand if there are any hidden conditions to payout of the progressive jackpots, the time frame involved, and methods for payout. The IRS monitors the progressive jackpot payouts and ensures that there is no tax evasion. The casino is subjected to strict assessment when it comes to Jackpot liabilities. The FASB (Financial Accounting Standards Bureau), the regulations updated by the Nevada Gaming Commission and the UK Gambling Commission, etc., serve as a benchmark for casinos to keep their jackpot accruals and obligations in a tax compliant manner.

There are different types of progressive jackpots. A country-wide pooling is made available under the wide area network progressive (WAP). More than one  casino and even a chain of casinos within the country are part of this progressive jackpot. The jackpot can accumulate to mind-blowing levels, ranging from £ 1 million to £ 10 million. The WAP is electronically connected with different gaming venues. WAP administrators like IGT and WMS gaming, man these jackpots. The aim of WAP is to facilitate hi-tech jackpots to players, while managing casinos that are exposed to payments of large and unfunded jackpots. The WAP prize bag is large, but due to administrative costs involved, the payback percentage is lower than other slots. It does not matter which machine you are playing in or where you are playing from. As long as the slot machines are commonly linked, you are eligible to hit the progressive jackpot.  Popular providers like Micro gaming, add up to the jackpot fever by hosting the cross-product model. The trade-off for them is popularity for the games powered by their software, across a wide area of casino players.

There is another variant called the Standalone Progressive, where the particular slot machine is not connected to others and has a fixed jackpot amount. A small percentage is calculated and contributed to the progressive jackpot. Though they may not have a very big payout, the odds of winning are stronger. Only bets placed in these exclusive machines will feed the jackpot. They were one of the most primitive types of progressive slots, largely associated with land-based casinos. In-house progressive slots are those that are either managed by a single casino or the same association. They are also called as proprietary progressives. Since the slots involved are owned and controlled by the casino, the in-house progressives are hit more frequently when compared to the WAP. 

Often the progressive slot machines are also segregated into local and state-linked machines based on how the progressive jackpots are organized. The Love Reels Casino guarantees 97% RTP (returns to player), with over 20 different progressive jackpot games. The good news is that more than half the titles involve a jackpot payout of over £ 1 million. The Mega Moolah slot is the most popular, associated with a wicked temptation of £ 10 million and counting.  One hitch is about the payback percentage from these machines. The payout will not include the amount deducted. This makes the payout percentage of non-progressive jackpots bigger than the progressive ones. But given the mammoth quantum of winnings the latter promises, the former is less attractive for the die-hard casino player. Though the casino will also chip in with a small percentage to the winnings, they put a ceiling on the number of machines. Players experience the risk of feeding into the machine, which needs to be played for some time. The frequency of payout is slow when compared to non-progressive slots.

The odds of getting faster winnings are thus limited in progressive slots than the regular slots. No matter what the odds are, it cannot be denied that progressive jackpot payouts are the biggest payouts of all jackpots. At Freaky Aces casino, the progressive jackpot is always lively, brisk and happening. The crisp message that 1,000,000 is only a spin away, lures players by the thousand, to wager for the progressive jackpot. Multiple games like King Cashalot, Fruit Fiesta 5 and 3 reels and Major Millions qualify for the jackpot. This colorful casino offers exciting games like the Caribbean Poker and Progressive blackjack – all complete with the pot of progressives. The fact that there is no limit to the number of players as well as the jackpot amount, makes the concept popular and interesting. It is always better to go in for progressive jackpots from the best-assessed and reliable casinos, since their network will be wide. A wide network increases your chance to win, should you be the lucky one to pounce on the winning combination by hitting the right numbers.

Progressive jackpot pooling has become so famous that the number of players easily add up for the purpose. While non-progressive jackpots from unlinked machines will only comprise of prize money of a few thousand, the progressive slot entices players with millions. The slot machines marked up for the progressive jackpot are connected to each other by way of a cloud server. Progressive jackpots are thus a gift of technology to the world of casinos. They are a win-win model for both the casinos and the players. Because of the RNG (Random Number Generator), players are assured of fairness in play. There is no winning strategy here to hit the progressive jackpot. Every time the relevant games are players, the players input a fragment of their wager into the jackpot. They allow the pot to grow in size, till one lucky player comes along and the winning knock in style. It is thus a matter of chance of luck, but since the amount involved is incredible, there is no dearth of participants in the lottery-styled progressive jackpot contributions.

Master these simple know-hows to become part of the progressive jackpot pool and add some zeroes to your existing winning amount, by wagering more on progressive slots. Competition is high and you need to risk a bit, play a bit and wager big, to end up in windfall winnings from the big, fat progressive jackpot. No matter how slow is the payout and how challenging the odds are, the progressive pool keeps expanding till the winning combination to struck at the ideal moment. One word of caution is that, though the progressive jackpot winnings can be life-changing, as every casino claims, the odds of winning are very small. But, players often take some chance and live dangerously for a possible 500 million dollar prize money. It is sheer indulgence for the adrenalin freaks to sit back and watch the meter heat up. Whatever be the tricky or challenging numerical odds, a player can by no means dream of such jaw-dropping payouts when they play the regular titles of blackjack, poker or baccarat.