Progressive jackpots give you the chance to win life-changing sums of money. They are often connected to many slot machines, different games, and in some cases, entirely different casinos. When players wager on these machines, a portion of that bet amount goes to a central jackpot—And the one to hit the jackpot takes home the entire amount, often being in tens of millions of dollars!
In this article, we’re going to do a deep dive into the world of progressive jackpots, how they accumulate over time, and the best practices to improve your chances of winning.
Without further ado, let’s dive right into it!
Contributions From Bets
This is the main contributing factor to any progressive jackpot. Simply put, a small portion of each bet placed on a progressive jackpot slot is added to the total jackpot amount. It keeps increasing as more people play.
The longer it takes for someone to hit the jackpot, the larger it becomes!
It’s not rare for popular jackpots to reach tens of millions of dollars within weeks. Typically, the portion that’s added to the main jackpot amount is a small percentage of each wager—Like 1% or even less.
There are also dedicated slots casino platforms that specialize in slot games. All of their games can be interlinked to the same progressive jackpot—Meaning all of their players from all around the world are contributing to the same prize pool. These online slot platforms are often significantly better than their physical counterparts, thanks to their larger player base, which translates into bigger prize pools.
A single casino can have scores of slot machines that can all be connected to a single progressive jackpot. The casino can also choose to connect multiple different slot machines or different slot games to the same progressive jackpot. Both of these will help increase the total prize really fast.
In some cases, entire casinos are linked together, with many slot machines and different games, to the same progressive jackpot updating in real time!
This means that players from different locations are all contributing to the same progressive jackpot. This helps the jackpot prize pool grow rapidly, reaching astronomical figures due to the collective bets of a large player base!
Progressive jackpots often have what’s called a “reset amount.” This is the minimum prize that the jackpot starts at after someone wins and takes away the previous jackpot amount.
Generally, it’s the game provider or the casino that sets this reset amount. The reset amount ensures that players don’t have to start from $1.
Winning the Jackpot
Winning a large progressive jackpot is always a life-changing event and certainly one of the world’s best and most exciting feelings. Players need to achieve a specific combination of symbols, often very hard to achieve, to win the jackpot.
This specific combination can include landing a particular set of symbols on a designated payline.
Once somebody wins the jackpot, the jackpot resets to its minimum amount and begins accumulating from all wagers once again—And the cycle goes on forever!
Note that many progressive jackpots require you to place the maximum bet to be eligible for the jackpot. Anything lower than that and you will be out of the competition for the grand prize, regardless of what tips and strategies you use to gain an upper hand.
Also, many progressive jackpot games have bonus rounds or mini-games within themselves that offer a chance to win the jackpot. These bonus rounds are triggered by getting certain symbols or events within the game.
Notable Progressive Jackpots
Some progressive jackpots are well-known throughout the world owing to their enormous prize payouts. Among these, the record-breaking wins on games like Mega Moolah tend to make the biggest splashes and the most captivating headlines in the media.
There are many stories of life-changing jackpots, sufficient to capture the imagination of players from all over the world! For example, back in 2015, an Afghanistan veteran soldier became an overnight multimillionaire after winning over £13 million ($16 million), or £13,213,838.68 to be exact!
Mega Moolah has a significant presence across online platforms in Europe, though it’s not available in the US.
Progressive jackpots are the biggest attraction in the world of slots, which is fairly big and populated with all sorts of gamers. The potential for extraordinary wealth by just spinning reels, pulling a lever, pressing a button, clicking on a virtual slot machine, or tapping a mobile app’s button is simply too lucrative.
Incidentally, progressive jackpots are known to be exceptionally popular among all types of gambling enthusiasts. Unlike table games, they often don’t require any major skill, patience, practice, or important deductions.
That’s what makes them even more enticing. The chance to win a big jackpot of a life-changing sum is a powerful driving factor behind the popularity of progressive jackpot slot machines and games—And the technology behind how it all works is truly fascinating.
We hope you learned something new today! Where will go play your next game?!