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Progressive Jackpots

Players looking to make killer profits when betting garner on progressive slots as they are known to hit immense proportions, sometimes seven and eight-figure prizes. This is because the prizes grow as players all over the world play the game. The Mega Moolah is an example of the most popular progressive jackpot games after a player called Jon Heywood won a record-breaking $13.2 million in 2015. Note that not all jackpots offer such high prizes; it can be a decent six-figure prize or less. The only question is how to increase your chances of winning the prize. The next text provides useful insight.

Pros

  • You have a chance to win big prizes
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  • Payback rate increases as the jackpot grows
  • Every player has an opportunity to win

Cons

  • The games are extremely volatile
  • In reality, the payback rate is lower
  • Risk of losing large sums of money by placing single bets

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What are Progressive Jackpots?

It is an amount offered as a top pay-out for specific casino games that increase until a player wins. The amount ranges from thousands to millions of dollars. Unlike a regular jackpot where the amount is fixed, in a progressive game, the jackpot rises as players put coins and spin the wheels. A small percentage of each coin is used to increase the jackpot amount. Progressive jackpots are available on a wide range of games, though most of them are tied to slot games. There are three types of progressive slots:
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  • Standalone progressive games: This kind has a jackpot ticker on the game, though only bets placed on that particular machine feed the jackpot. When progressive jackpots were first introduced, most casinos offered standalone jackpot games. Today, casinos setup multiple machines that are connected but standalone machines are still found in land-based casinos throughout the world.
  • Local progressive: These are jackpot games within a particular casino and are connected to a network of other such games. The system may include a dozen machines or hundreds of devices; it all depends on the casino. Prizes for these games normally range from $100,000-$1,000,000.
  • Wide area network progressive: It is the most popular jackpot game in the market. It connects slot machines from various casinos located in the same state and allows the jackpot to accumulate into ridiculously high prizes, often more than $1 million.

Players need to meet the maximum wagers to be eligible to win the jackpot amount. As such, if you hit the required combination but have not wagered the required amount, you can’t win the jackpot. It explains the need to understand the minimum wagering requirements before playing a progressive game. Also, players need to bet at the specified level or higher. For example, if you are playing a video poker game, you need to wager five coins to activate top pay-outs. Thus, if you are making a 0.25 bet, the value of the total stake at five coins will be $1.25 for every hand. If you bet less than $1.25 and hit the jackpot symbol, you only receive the amount indicated for the number of coins and not the progressive prize. Experts advise players to play lower amounts per coin if can’t bet as much.

How do Progressive Slots Work?

The jackpot prize increases by a small amount every time a player wagers. The amount by which the casino determines the jackpot increases. For example, if you are playing a slot machine game with an attached progressive prize, the casino may decide to take 10% of every bet and assign it to the jackpot. The percentage taken out of the wager varies, depending on the game. If a player wins the prize, say $1 million, the amount is reset. The reset amount is usually accumulated from the different contributions of players to the jackpot.

The Biggest Jackpot Amounts

Jackpot prizes vary depending on the type of game and the software provider. Here are examples of the biggest jackpot amounts:

The Mega Moolah

Play Mega Moolah for free!

Microgaming developed this iconic jackpot game. Mega Moolah has a history for creating the highest jackpot prizes with the largest pay-out hitting $17.8 million. The beauty of this game is that players can activate the jackpot at random and secure it by betting this game’s minimum amount.

The Mega Fortune

Play Mega Fortune for free!

The jackpot game has made new for its rewarding pay-outs and has held the title for being the biggest jackpot in 2013. The secret to increasing your chances of winning the jackpot in Mega Fortune lies in the bonus round. Here you will find the wheel that land on the jackpot symbol to win the prize.

Hall of Gods

Play Hall of Gods for free!

This NetEnt slot game is the most popular slot title that offers massive prizes. Players are required to find Thor’s Hammer Symbol to access the bonus round, which provides the three jackpots- Mini, Midi, or the Mega. The highest recorded jackpot prize for the Hall of Gods was more than $7.6 million.

Tips and Tricks on How to Choose a Progressive Slot Game

Most players believe that luck dramatically affects the ability to hit the jackpot. This is not always the case as some tips and tricks increase your chances of winning:

  • Choose Higher Bets: Always aim for higher denominations because they are more likely to pay. As such, if you need to choose between placing a $1 bet twice and $2 bet once, choose the latter.
  • Bet on the maximum amount: Games offering progressive prizes require high amounts of bets to activate them. Thus, betting a low amount reduces your chances of hitting the jackpot
  • There are no due pay-outs: Progressive pay-outs are a result of random algorithms. It means that each spin is random and may or may not hit the jackpot. As such, players should not assume that a slot game is likely to generate a win because it has not been paying out.
  • Choose simple games: complicated games often have complex rules that reduce your odds of hitting the jackpot. For example, three-reel games are better than five-reel games.
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Progressive Jackpots
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