How Do Progressive Jackpots Work?
In terms of slots, a progressive jackpot is the most reliable way to win a life-changing sum of money. That’s not to say that hitting a progressive jackpot is easy, but rather that the potential sum of money won is normally astronomically high.
But how does a progressive jackpot work, and what are the actual chances of winning one? The first thing to keep in mind is that progressive jackpots are generated by the players. The sum is not paid out directly from the wallet of the casino, as some assume. If a casino were to foot the bill whenever a progressive jackpot was won, they would likely be bankrupt in the blink of an eye. Rather, progressive jackpots are linked to a series of slots, often spread far and wide across the country, or even across the world where online casinos are concerned.
Every real money bet placed by players on these specific slots games counts towards the progressive jackpot, with a small amount of each transaction skimmed off the top and stored. Depending on the number of players, the length of time before the jackpot is won, and the amount skimmed, the jackpot quickly climbs to an enormous sum. When, eventually, the amount is won, it is simply transferred to that player as it stands, with not a cent coming from the personal coffers of the casino.
How Often Is a progressive Jackpot Won?
Some progressive jackpots can roll over for years before being triggered, while others are won a week after officially opening. It really is just a matter of luck, statistical probability, and how many people play the game.
The trick is, of course, that the value of the jackpot is directly linked to the amount of time it is allowed to gather. If progressive jackpots were won weekly, they would be far less valuable. It is, therefore, in the interest of the players that the amount be allowed to accumulate before being won. On the other hand, however, the actual chances of winning the jackpot are so low as to be considered practically unattainable by the average person.
Keep in mind that millions, if not tens of millions of spins must be taken on the reels before the jackpot is triggered. This means that winning the national lottery is a better option, given the statistics. Why then, you may ask, would I even bother to try and win a progressive jackpot, instead of playing the national lottery?
Progressive Jackpot Entertainment
Imagine buying a thousand lottery tickets, waiting for draw time, and proceeding to manually check your numbers against the winning numbers, with each individual ticket. Does this sound like a good time, or the most tedious experience of your entire life? Now instead imagine taking a thousand spins on a slot game, which has not only been designed to be entertaining, but also to allow you to win money back over the course of those thousand spins. The plain and simple truth is that slots games are more fun, wiser in terms of cost to your wallet, and playable any time you choose. Progressive jackpots are, in simple terms, the most entertaining way to test your luck and still have a shot at becoming an instant millionaire.
Playing Progressive Jackpot Games
At Spin Palace we offer a number of exciting progressive jackpot games, so simply keep your eyes open when selecting which game to play. Look out for prominently displayed counters on the game to get an idea of the current jackpot amounts, and note the pace at which the sum is climbing. This gives and idea of how many people are currently playing the game. If really looking to go the whole nine yards, check as to when the last time the game paid out a jackpot, which will indicate how long the jackpot has currently been running.
Non-Progressive Jackpot Slot Games
Also keep in mind that slots games not linked to a progressive jackpot will have some or the other kind of jackpot system, and although not as enormously generous as a progressive jackpot, the amount on offer will still certainly be worth your time.
Progressive jackpot games are high variance games, in other words, the risk is high, but so too is the reward. These games may pay out less often, but when they do, the amounts can easily run over a million.
Before you start playing, ask yourself; how much are you willing to spend to get a crack at that jackpot? Stick to that amount, and if the jackpot comes your way in the process of spending that amount, consider yourself lucky. Progressive jackpot games may be based on luck and can be triggered at random, so regardless of when you play, it could just be your lucky day!