When it comes to slot games, we all have our eyes on that massive payout—it’s the reason we play. We all know what jackpots are, but what are progressive jackpots?
The largest slot payout ever won was $39.7 million. Millions of dollars were won on a $100 stake and it only took one spin. Why did I mention this? It’s simple: The slot game in question used a progressive jackpot model. This clearly demonstrates the power and potential in progressive jackpot slots. Let’s find out more.
How Are Payouts Determined?
Over time, slot manufacturers have developed multiple methods to decide how much and how frequently payouts occur from their machines. Let’s discuss a few.
Fixed Jackpot
One of these methods is the fixed jackpot. This involves a preset amount being paid if the player triggers a winning scenario. The amount paid is independent of the amount wagered.
Payline Table
Some slot machines use a Payline table. This is a reference table that contains the amount to be won or a multiplier value, e.g., 5x,10x, etc., depending on the winning combination hit. The rarer the winning combination, the higher the multiplier value or amount won. This payout method is very popular among slot machines.
Bonus Rounds
Slot machines can also use Bonus rounds; they usually need you to meet certain requirements to enter; once you’re in, you have the opportunity to play and win various rewards.
Local Jackpots
This refers to jackpots with a reward pool that is restricted to just one slot machine. These jackpots are easier to win because their total pool size is relatively smaller, so their payouts are more frequent.
Pooled Jackpots
When a title connects all available slots, both offline and online, it creates a large reward pool for its users. This is called a network or pooled jackpot. It offers one of the largest payouts available, but because it is pooled from a large set of games, and since each of those games gives its users an opportunity to win, it is highly competitive.
What are Progressive Jackpots?
Progressive jackpots start with a minimum predetermined value and gradually increase in size with each play, most times without a fixed maximum. Some companies prefer to have a maximum value since it allows for more consistent payouts and attracts more users.
The prize pools are generated from a percentage of each player’s stake. Slot games with progressive jackpots usually have a minimum stake amount. Each stake gives you an opportunity to win the jackpot. Unlike other slot machines, where each stake offers possible returns per bet, it’s an all-or-nothing bet.
Some slot games have tiers and order their jackpots into minor, major, and mega leagues. Different minimum bet amounts determine which league you’re gunning for. The current prize pool is sometimes displayed, attracting people willing to take a chance on a life-changing lump sum.
There is a huge variety of different online slots to choose from, each of which offering differnet themes and features. However, few can beat the promise and excitement that progressive jackpots can offer.
