If you’re looking to win a jackpot that could change your life, then progressive slots are the game to play. Let’s face it—you’ll never win several hundred thousand playing blackjack or roulette. The payouts just aren’t high enough.
- Progressive Jackpot Meaning List
- Progressive Jackpot Meaning History
- Progressive Jackpot Meaning Symbol
- What Is A Progressive Jackpot
The purpose of this page is to provide an explanation of what progressive slots are, how they work, and why you might be interested in playing them. We’ve also included descriptions of some of the more popular progressive jackpots available both online and in traditional brick-and-mortar casinos.
So basically, a progressive jackpot accumulates small amounts from each bet and being fitted with an RNG no one can predict when the jackpot will pay out.
What Is a Progressive Slot, and How Does It Work?
Progressive jackpots are the highest payout a player can receive. After someone hits the jackpot, the amount is reset and the jackpot begins to grow again. There is no definitive amount that the jackpot is expected to be and it will continue to change with each game. Jackpot definition, the chief prize or the cumulative stakes in a game or contest, as in bingo, a quiz contest, or a slot machine. Standalone progressive. A standalone progressive slot machine has a jackpot ticker, collected from player wagers, but only bets placed on that specific machine feeds the jackpot. Standalones are typically more common in brick-and-mortar casinos. Progressive jackpot is a term used in both online and brick-and-mortar casinos, and it refers to the jackpot reward tied to a progressive video slot or slot machines. Unlike a fixed jackpot, the money you can win from a progressive jackpot continuously changes each time a player makes a wager playing a progressive video slot.
On most slot machines, the jackpot is a fixed amount, but on a progressive game, the jackpot rises as players put coins in the machine and spin the wheels. A tiny percentage of each coin played is used to “feed” the jackpot. There are three types of progressive slot machine games.
Standalone Progressives
A standalone progressive slot machine has a jackpot ticker on the game, but only bets placed on that specific machine feed the jackpot. This was, at one time, the only kind of progressive slot machine game available, but most progressives feature multiple machines that are linked together. Still, so many standalone machines were manufactured that these games are still easily found in casinos throughout the world. Usually the jackpot on the games will be under $10,000.
Local Progressives
Local progressives were the next step in the evolution of this type of game, and they’re still commonly found. These games feature jackpots within a specific casino that are linked. This network can include as few as a dozen or so machines, or it can include a hundred machines—it just depends on the casino. Usually the jackpots available on these games are under $1,000,000, and often they’re under $100,000.
Wide Area Network Progressives
These are some of the most popular casino games on the market today. A wide area network jackpot links slot machines from multiple casinos in the same state. This allows the jackpot to accumulate into astronomical sums of money, often over $1 million and sometimes even over $10 million. The most well-known brand of wide area network progressives are the Megabucks games from IGT, which is the most successful slot machine design company in the world.
How Do You Win a Progressive Jackpot?
Progressive Jackpot Meaning List
No strategy or system can increase your chances of winning a progressive jackpot on a slot machine game. The odds of winning are similar to the odds of winning the lottery, although you get many more chances of winning per hour with a slot machine game than you would get playing a lottery game.
An important thing to keep in mind about progressive jackpots is that they don’t become “due”. The chances of winning are astronomically small no matter how large the jackpot has gotten. It’s possible for a jackpot to grow large enough that a bet on a particular slots game will be a positive expectation bet, but it’s not a practical opportunity to win. A 1 in a million shot is still a 1 in a million shot, even if the jackpot is up to $2 million.
Online Progressive Jackpots
With the rise of online casinos, progressive jackpots on the Internet have become just as popular as the games in actual land-based casinos. Microgaming is one Internet casino provider which has established its fame and reputation based largely on its large assortment of fun, colorful, and relatively loose progressive jackpot games.
Online progressives work just like their land-based cousins. Every wager you make on your computer feeds a tiny amount into the progressive jackpot for that game. Since lots of players are now gambling from the comfort of their homes, these jackpots can become just as large and life-changing as the progressives in Vegas or Atlantic City.
Most Popular Progressive Games
Megabucks is one of the most popular progressive networks available. The probability of winning this jackpot has been estimated at 1 in 50 million. The amounts won on this machine vary from $10 million into the hundreds of millions. Like many lottery games, Megabucks is paid out as an annuity over 25 years.
Wheel of Fortune is a popular brand of slot machine, and it’s available in multiple denominations. One of the most common versions is the quarter version, which has a starting jackpot of $200,000. The jackpot on this game has gotten close to $2 million in the past, but it’s usually won when it’s still under $1 million.
Progressive Jackpot Meaning History
The dollar version of Wheel of Fortune progressives starts with a $1 million jackpot. It’s not unusual for the game to reach $5 million or more, and it’s almost reach $10 million on occasion. Like Megabucks, this jackpot is paid out as an annuity over time.
Elvis isn’t just the king of rock and roll. He’s also a symbol of classic Vegas, so it’s entirely appropriate that he has a progressive slot machine network named after him. The game starts with a $100,000 jackpot, and it costs 25 cents per spin. Keep in mind that to be eligible for the jackpot, you have to make the max bet, which is 3 coins, or 75 cents. We don’t recommend playing progressive slots without making the max bet, because you usually won’t be eligible for the top prize unless you do.
Mega Moolah is an online-only progressive jackpot available at Internet casinos powered by Microgaming software. Multiple games feature the brand name, and the jackpots and betting limits vary. This progressive network features some of the largest jackpots online, often reaching $1 million or more.
Progressive jackpots continue to increase since a small percentage of every wager adds to the jackpot, once the jackpot combination spins in the lucky players could become an instant millionaire or even multimillionaire. So basically, a progressive jackpot accumulates small amounts from each bet and being fitted with an RNG no one can predict when the jackpot will pay out. There three main types of progressive jackpots, random progressive jackpots that can trigger at the end of any winning spin, meaning players do not need a specific combination to win and then there is also the local and pooled progressive jackpots.
What is a local progressive jackpot and how do you win it.
Progressive Jackpot Meaning Symbol
Local progressive jackpots need a specific combination to trigger the jackpot round, while the jackpot itself pays out once a specific result is achieved. The main difference between a local and polled progressive jackpot is the number of players contributing towards the ever-increasing pot. Local progressive jackpots are contributed to by the players at one casino and only players at that casino can win the jackpot. The benefits are that players have an improved chance to win since fewer participants are competing for the jackpot, while the disadvantage is that the jackpot increases at a slower pace and pays out less than pooled progressive jackpots.
What is a pooled progressive jackpot and how do you win it?
Pooled progressive jackpots also called network jackpots are linked to several casinos and players from all the linked casinos contributed to one jackpot, which means the pot amount increases at a rapid pace and reach multimillions within a relatively short time. With thousands of players at different casinos all contributing to the same jackpot, it also means that the progressive jackpot can be won by a player at any one of the casinos that are part of the network.