Before put you put your money in a slot machine you should consider the slot machine payout rate. Casinos are businesses and typically they will keep around 3% on the money wagered on the machine over the life cycle of the machine.
Netent pays out £6.2 Million on Mega Fortune Dreams Slot
A man from Cheshire in the UK recently won £6.2 million on the Netent Mega Fortune Dreams slot. His stake was just £1.25 on a single spin when he instantly became a multi-millionaire.
When the reels stopped spinning and he saw the amount he had won he went into shock mode. He said initially he was in disbelief that he could have won so much money. When the reality of the win dawned upon him he said; “The win is life changing for me and my family and gives us security for the future. The first thing that we will enjoy with the win will be a nice family holiday to Disneyland.”
Gambling psychology is complex, reasoning and normality are senses that are all too often put to one side due to thrill and optimism.
Applied Gambling Psychology
Why do people gamble? because they can, but why they do is more of a mystery.
The majority of gamblers will lose, something which everyone knows but some people can be more dismissive than others. What drives gamblers to participate in something which is so obviously a losers game?
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.