Wednesday, November 29

What Exactly Is a Progressive Jackpot?

Everyone who plays slots likes to think about the big wins. Even though a 20–30% gain is excellent (really, that’s a great day’s profit! ), most players keep their eyes on the most elusive and exciting opportunities. Yes, we’re talking about jackpots!

And those huge wins you’ve heard of? All of them are moving forward! Many people use this word, but what does it really mean? Let’s get closer to understanding.

How Does a Jackpot Get Bigger over Time?

Contrary to what most people think, this is not a political term. When the jackpot is “progressive,” it just means it gets bigger with each spin (or wager). Progressive jackpots, like at Yukon Gold Casino Canada, come in all sizes and shapes, and slot players have been able to win them for a long time. There have always been two kinds of progressive jackpots. They are:

  • Bets on a single game or console add to a stand-alone progressive jackpot.
  • In-house progressive jackpots are fed by machines in the same casino that is linked together. 

Most of the time, you can find these in real casinos. But in the past few years, a new type of progressive jackpot has become widespread. For example, sharing the same progressive jackpot at the same time across several games. Networked progressive jackpots are another name for this. This has led to a huge rise in the size of the biggest wins and, with it, a rise in the hopes gamblers have for their best futures.

Are Jackpots That Keep Getting Bigger Always Better?

It’s pretty clear that when more people contribute to a jackpot, the top prize will be bigger. But does this really help gamblers? Well, the answer is a resounding yes for the lucky winner. But what about the rest of the gamblers?

Bigger payouts will definitely bring in more customers and make more news. Both of these are reasons why we think these trends will continue in the future. But there is another way to look at that. Let’s say that 1,000 people pay into a single jackpot. There will only be one winner, and he or she will get a lot of money.

Now, let’s say that the same 1,000 gamblers put money into 100 different jackpots, each of which will be won separately. The payouts will, of course, be much smaller than when there was only a jackpot. But there won’t be one huge winner. Instead, there will be 100 smaller ones.

This is another way of saying that a single gambler has 100 times better odds of winning. Would you rather have a 1 in 1000 chance of winning a big amount or a 1 in 100 chance of winning a small amount? Almost every player would choose the bigger jackpot payout over the smaller one, but there’s no right or wrong answer from a mathematical perspective. It just depends on what you like.

Some people who like to play online slots look for games with the biggest jackpots. This style is a lot like playing the lottery in that you take the long odds and hope that when you win big, it will be one for the record books. One piece of advice for gamblers who use this strategy: make sure you’re eligible to win the jackpot!