Jackpot. No other word causes sweaty palms and dilated pupils in the iGaming scene like the term jackpot. Because the really hefty winnings on slot machines are the jackpot winnings.
Did you know that it is possible to win impressive amounts in one go with the slot games of your online casino? The jackpot slots Mega Moolah and Mega Fortune are legendary.
What many players don’t realise: even with small stakes, you can play for the really big money, for the Mega Jackpot. In youth language, the term is also used to describe the absolute jackpot.
What is a Jackpot in a Slot Game?
So, what is progressive jackpot? A jackpot is a specially defined prize that’s available on an online slot. There are two types of jackpots: jackpots with a fixed sum or with an increasing sum, so-called progressive jackpots.
Each player of a progressive jackpot slot pays a small portion of his or her bet into the “pot” per game round. In this way, the sum in the pot grows progressively from minute to minute.
Many slots have multiple jackpots, both static and progressive. There are some big differences in the progressive ones: Some pots are paid into by all players worldwide, regardless of which casino they play at.
Bigger is Not Always Better
That’s why there are also games that involve fewer players but offer significantly higher chances of winning the jackpot. For example, a jackpot that is only played within a single online casino.
Usually, one or more games from a developer such as Microgaming or NetEnt share one or more pots – and let them grow steadily. You can usually see the jackpot totals above the set of reels.
Some games only allow you to play for the jackpot from a certain bet level, in some it even has to be the highest bet. Recently, games with a time limit for the jackpot have become very popular.
What Types of Jackpots Are There?
In detail, there are the following types of jackpots:
• Progressive Jackpot from a Slot Machine: All players worldwide in all online casinos in all currencies pay in a fixed percentage of their gaming stake (for example 5%). There are often additional requirements, for example, only those who play with a minimum amount, or the maximum stake take part in the jackpot game.
• Casino Jackpot: As above, but instead of being restricted worldwide to only one or more online casinos.
• Static Jackpots: This is either a percentage jackpot (10,000 times the stake) or a fixed sum.
• Series Jackpot: Several slot games of a manufacturer play for a jackpot pot. For example, three games from Play N GO. This can be worldwide or only for one casino.
• Jackpot Machines with Multiple Pots: Slots where you can win different jackpot pots. They can be in any of the three categories above.
• Must-Drop Jackpot: Here there is a time limit when the jackpot is triggered at the latest. Must-drops can contain fixed or progressive amounts.
When Will I Finally Win 1 Million Bucks?
Just a moment, are you already planning your family vacation on Tenerife? If so, then wait! Millionaires are in no hurry… So, let’s talk about the hard facts.
What are the chances of winning? Sure, it varies greatly from machine to machine, but there are a few basic principles you should know.
The chance of winning always remains the same over time (except for must-drop jackpots). If the chance of winning the jackpot is 1 in a million, and after 1 million spins the jackpot is still not paid out, then the chance on the next spin is still 1 in a million.
This sounds disadvantageous at first, but it is not. Because it only means that your chances are always equal, i.e., fairly distributed.
However – and this is where it gets interesting – it does make a difference when you try your luck. Imagine two identical slot machines: Everything is the same, except that one of them hit the jackpot three days ago.
It now stands at £10,000. The other one was last hit three months ago. It stands at £2 million. Which one do you play?
Of course, the second one. Because mathematically, the chance of winning is the same for both. But despite the same chance, the second one pays out significantly more cash. What do we learn from this?
Clever jackpot hunters play the pots that are already fat and juicy. Not because of the higher probability (because there is no such thing), but because of the fatter potential payout when things go bang.
