Progressive slot jackpots are an exciting way of giving customers the opportunity of winning a large amount of money with just a single spin on a slot machine or video poker game.
Progressive Slot Jackpots Explained
It works by linking a series of machines together electronically so that every time a wager is made the amount of the Jackpot increases little by little. The more machines that are linked together the quicker the progressive jackpots grow.
Typically, the value of the Jackpot will increase at a rate of 1% of the total wagered. In the US winners have become instant millionaires with wins up to 40 million dollars. Smaller wins of a few million dollars are more common and are still a great incentive to play for. In smaller Casinos the amount of the Jackpot will be considerably less because it is a percentage of that wagered.
When a player wins, the progressive jackpots is reset to a worthwhile value. If it was reset to zero there would be no incentive to play for it.
Progressive jackpots are randomly triggered so any one of the linked machines can win the accumulated amount. Normally it is only triggered when someone wins with 5 symbols of a kind on a slot machine or 5 of a kind on a video poker machines. The player wins the wager which triggers the jackpot plus the jackpot itself.
Of course if you live in Australia you would know these as online pokie progessive jackpots.
There is normally a display in a prominent position which shows players how much the jackpot is at a given time. Players are motivated by the opportunity of winning the progressive slot jackpots.
From a professional gamblers perspective, the prospect of winning a Jackpot greatly increases the return to the player over time. Such is the enthusiasm, groups of gamblers sometimes collude and work together to scoop progressive slot jackpots. It has been known for a syndicate to monopolize all the machines and work around the clock in shifts. Incentives are high because they will be guaranteed win if the Casino does not ban them in the process.
Any advantage to team play can only be in a live Casino. When playing online, an unlimited amount of players can play a progressive Jackpot machine. So, syndicated play of progressive jackpots is not possible in an online Casino.
Of course, a professional syndicate would not take over all the machines until the Jackpot was worth winning. In this way they benefit from the contributions of previous players without having already contributed themselves. Progressive jackpots can be exploited but remember, you never know when they will be triggered,
Talking odds though, it is not possible for a gambler to accurately calculate the odds of winning on a particular slot machine. This is because they do not know the make up of symbols on the reels. The payout rate is determined by the Casino, typically more than 96%. If playing Roulette or Poker or Blackjack with a deck of 52 cards, it is possible for the odds be calculated but at the end of the day it is still a game of chance.
Did you know?
If you are thinking of going out to try and win a progressive jackpot there is something else you should know. In most Casinos offering a progressive slot jackpot it is only those players wagering the maximum number of credits per play who qualify to win that jackpot. All wagers on the selected machines will qualify. So a player who is unaware of this and not making maximum wagers may have been duped into thinking they could hit the Jackpot. It is a cruel world is it not?
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