Detailed Look at Progressive Jackpots

Have you ever noticed an advert on your favorite online casino indicating a massive jackpot up for grabs? Well, you’ve probably seen a progressive jackpot. So, in this article, you’ll learn what precisely a progressive slot is, how it works, and the varying types of jackpot progressives. Keep reading!

What is a progressive jackpot?

A progressive jackpot is a casino offering that pays out huge amounts on a particular casino game. In most cases, the prize continues to climb until a lucky winner strikes luck. Also, progressive jackpots come in video slots, most notably Microgaming’s Mega Moolah.

However, it’s important to note that most progressives require players to place maximum wagers to win the jackpot amount. Therefore, if a player hits a winning combination but hasn’t wagered the required amount, he/she won’t scoop the progressive.

How progressive jackpots work

As said, a progressive jackpot increases with time until a lucky player unlocks it. After that, they reset to the seeding level and start all over again. For example, Mega Moolah has a whopping £1 million seed.

But how does the amount increase on a jackpot progressive? Does the casino add in all lost wagers? Well, that’s partially true because the casino takes a percentage of each bet made on the game and adds the rest to the progressive. That can be 10%, 20%, or even 30%.

Meanwhile, the percentage that goes to the jackpot is what funds the next reset amount or seeding. For instance, if the rate is 10%, 1% may go to the reset amount, whereas the remaining percentage makes the progressive. Some game developers fund the reset amount themselves, so the whole 10% goes to the progressive jackpot.

Types of progressive jackpots

In most casinos, you’re most likely to find three kinds of progressives. However, the reward varies depending on the number of players contributing and the reinvested percentage.

• Local progressives or linked progressives – A local jackpot progressive is mostly available in land-based casinos. Here, machines are grouped in a single land-based setting. The slot machines can be connected to a single bank or spread across the floor. If you’re lucky to find this jackpot in an online casino, the progressive can connect across five different games. Predominantly, they have bigger pots.
• Network progressives or wide-area progressives – This one offers the biggest jackpot prize because it’s connected to all machines in a casino. In other words, the progressive can be active across varying brands of slots. As expected, winning this progressive jackpot can be an arduous task, but the end prize justifies the means.
• Standalone progressives – As the name suggests, a standalone progressive is a jackpot that operates on a single or independent slot machine. The amount collected from the wagers placed on the machine is what contributes to the overall prize. Typically, standalone progressives are smaller than other jackpots.

How often do progressives pay out?

First of all, winning most casino bets is mostly down to luck. Therefore, there is no proven method or strategy to get the better of jackpot progressives. The chances of activating the jackpot progressive are slim no matter how big that payout is.

Still, despite the slim chances, almost all jackpot progressives have been won at some point. So, don’t lose hope and keep trying. The trick is to try harder when the prize is sky-high. Also, play on regulated casinos as the gameplay here is fair and entertaining. But nothing is certain in the complex betting industry.

Conclusion

Just like the lottery, punters will always try to take down a big progressive jackpot. But as said before, defying these odds isn’t anybody’s cup of tea. You must be fortunate to do that. So, play for fun. You never know! Your name might be next on the multi-million-dollar payout.