Progressive Slot Machine
If you only look at one factor to determine a hot progressive slot machine, then let it be the average jackpot payout time. Doing so allows you to find the best route in terms of improving your odds of winning. Average Progressive Jackpot Payout Size. Progressive slots don’t deliver jackpots very often because the prizes are so huge. Progressive jackpots are also wired into slot machine games operated by online and offline casinos. These games may be single-player progressive jackpots — meaning that the jackpots are only accumulated from a single machine — or they may be multi-player jackpots, where more-than-one machine contributes to the progressively increasing jackpot.
Slot machine games have been used since the late 1880s when Charles Fey built the first slot machine game, the Liberty Bell, in his workshop. Progressive slots came along about 100 years later in 1986 when IGT (International Gaming Technologies) released Megabucks, the first progressive game.
Until Megabucks all slot machine games paid a fixed maximum jackpot prize. The progressive technology IGT developed allowed games to gradually increase their jackpots over time.
I think it’s fair to say that progressive games have become common and popular across the world. Players love the big jackpots.
But are they worth playing for?
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- Progressive slots and slot machines have a jackpot that increases incrementally as players play the game. These can be standalone machines, where the jackpot increases on just that one machine,.
- Stand-alone progressive slot machines were the first of their type and have now become less popular among casinos, both online and land-based. In-House: Also called Local progressives, they are linked to a network of slots within a single casino website.
I’ve put a few dollars into those million dollar machines just to see what would happen. I didn’t win the progressive prizes but I didn’t like the results of my game play either.
Who Pays for Progressive Jackpots?
Whether it’s a slot machine or any other kind of gambling game, a progressive jackpot is paid the same way as a traditional prize. The money comes from players’ wagers.
The only time a casino risks its own money on a game is when it first introduces the game. The very first player could win a prize and the casino must cover it. Industry experts say it takes only a few weeks for a casino to earn a cash reserve on each game that covers all future payouts.
And that means all those progressive jackpots are covered by players’ wagers.
There’s too much debate and disagreement about how much the casinos make on progressive games to go into the details. The important thing to know is that a progressive jackpot is rarely paid out of the casino’s net worth.
How Progressive Games Work
The idea behind the progressive jackpot is simple. It starts out at a minimum level and as more wagers are played a little bit of each is allocated toward the jackpot.
The jackpot will only be rewarded on a random basis when an extremely rare combination of factors occurs. In slot games this is a combination of winning symbols. In other games it’s a combination of cards or die rolls depending on the game.
Most progressive games require that you make a maximum wager to win the progressive jackpot. So if you make anything less than the max bet and the winning symbols come up you’re only awarded a fixed prize.
The progressive jackpot may be increased by less than maximum wagers.
I know some people believe progressive games are designed to pay only after certain intervals but that can’t be true for all of them. I doubt it’s true for any of them. I say that because I’ve seen two people win progressive jackpots on the same machine within an hour of each other.
That poor second winner had to settle for slightly more than the minimum prize. But she was happy just the same.
A friend showed me an online slot game that had 4 or 5 progressive jackpots. It was a dizzying display of numbers increasing gradually over time. He asked me what I thought about all those jackpots.
I asked him if he was winning any money without the jackpots and he shrugged.
The slot game still pays smaller prizes. Progressive games can pay big or small prizes just like non-progressives. The idea is that the progressive prize retains a small, small percentage of every wager to cover the next jackpot.
The more progressive prizes the game pays the less likely it’s going to pay larger non-progressive prizes. But that’s just my opinion.
When a random number generator decides the action anything can happen even if that means the casino loses money on the game for a while.
Should You Play Progressive Games with Higher Jackpots?
The working theory among many players is that you should wait for a progressive game’s jackpot to climb to a ridiculously high value.
This expectation is based on the classic Gambler’s Fallacy, and just as with lottery games whose jackpots go unwon for several weeks or months, the amount of the jackpot doesn’t matter.
That was a “local” progressive jackpot. There were about 6 games networked together. They were very popular with the casino’s regular slot players.
I’ve never heard of a national progressive game paying jackpots close together but it could happen. The more machines you network together the less money overall each machine need to contribute to the jackpot.
Of course, if the gaming company wants to offer a really big jackpot then it needs to siphon off more money from the wagers. They can do this by offering progressives only on higher wager machines or by increasing contributions from each wager.
Either way, you’re risking more money to win the biggest progressive jackpots than when you play for the smaller ones.
Is Winning a Progressive Jackpot Worth the Trouble?
If a slot machine game offers a fixed top prize of $10,000 why would you not be satisfied with that?
Your chances of winning a $10,000 jackpot are much better than your chances of winning a $1,000,000 jackpot – all other things being equal.
The percentages on these two hypothetical games could be different. You might have a higher RTP on a $25 progressive slot machine game than a $1 non-progressive slot game.
You could also have a higher variance on the non-progressive game – where the big prizes are paid less often but they are larger than the big (non-progressive) prizes on the progressive game.
I don’t know of a simple way to decide between two slot machine games. You should study the help screens. You may need to look up their PAR sheets and see if you can calculate the odds based on their published specifications.
My rule of thumb is that the larger the prize on the table the less likely I’m going to win the prize. It doesn’t matter what the game is.
How Much Do Other People Win from Non-Progressive Prizes?
Progressive Slot Machine App
When you’re learning about a game for the first time look at how it’s paying other players. The frequency of payouts should have nothing to do with the progressive jackpot. That jackpot is being covered by a percentage of each wager just like the other prizes.
Instead, what you want to know is how enjoyable the game is. Everyone enjoys winning so how often that seems to happen is an important clue.
Other people’s results don’t guarantee you’ll win just as much or more than they do. All you want to do is get an idea for how many wagers you must make before you can bring your balance back up to where you started.
Some games pay partial wins. These are called losing prizes. If you wager $5 and the game pays $4 you lost on that prize. You just didn’t lose your entire wager.
I don’t play slot machines very often but I avoid games that pay losing prizes. It takes too much effort to calculate how likely they are to let you get ahead. But I’ve never walked away from playing a game like that with more money than I put in.
Conclusion
Playing a progressive jackpot game is a personal decision. I think you should play the game because you enjoy the experience.
I don’t make extra wagers in blackjack so I never play for the progressive prize. I’ve only once seen anyone win a progressive prize in blackjack but I don’t think it’s a common game.
Even in slot machine games you have a choice. You can choose to play non-progressive or progressive games. You can choose to make qualifying wagers or not.
As long as you’re not forced to pay extra for the prize do what you feel is more entertaining. After all, you just might be the next winner.
The first progressive jackpot slot launched in March 1986 and was created by International Game Technology is known as IGT. Megabucks video slot featured a progressive jackpot that differed from other jackpots in the sense that instead of offering a fixed jackpot prize, its jackpot was linked and contributed to by a percentage of players wager.
The major fascination with the progressive jackpot was due to IGT’s announcement, the developer would fund the first million dollars to set the jackpot into motion, and by February 1987, the first jackpot winner, Reno cashed in a jackpot prize worth $4,988,842.17.
Being named the “biggest progressive jackpot” in the world is a title, many online software developers compete for, and currently, the two main contenders are Microgaming and NetEnt.
Microgaming launched its signature progressive jackpot slot titled Mega Moolah in December 2006, and during its steady climb from one million to five and a half without any winnings along the way, the first lucky winner was awarded $5.5 million in April 2008.
NetEnt released Mega Fortune in January 2009, the first winner of the mega jackpot bagged an extraordinary win worth €4.3 million, while the second winner won €3.9 million, yet the progressive jackpot first to astonish the world & enter the Guinness World Record was in January 2013 when a student from Finland claimed €17.8 million!
Best Progressive Jackpot Slots
Progressive Jackpots the Millionaire Makers
There are several types of progressive jackpots including standalone progressives, in-house progressive jackpots known online as local progressives and wide area progressive jackpots also referred to as linked progressive jackpots.
Progressive jackpots wins are something every player have fantasized about, its life-altering and a single spin can transform a casual player into a multi-millionaire. The difference between a jackpot and a progressive jackpot is major, fixed jackpots offer players the prize indicated in the paytable while progressive jackpots increase every time the slot is played, should the progressive jackpot be won the minimum jackpot prize instantly re-sets to its minimum guaranteed predetermined value.
Every online and land-based slot machine operates via a computerised algorithm called a random number generator referred to as the RNG, which determines the result of every spin and at the same time guarantees that every result is completely random. Playing a progressive jackpot very much depends on the progressive jackpot rules indicated in the paytable section. Most progressive jackpots state that the main jackpot prize can only be triggered via a maximum bet, but at the same time this hugely differs from one slot to the next. The first step towards winning a progressive jackpot is to ensure you are familiarised with the requirements, since should you be lucky enough to spin in the required combination it would be dramatic to only win a part of the jackpot should your selected bet not adhere to the conditions.
Types of Progressive Jackpots
The two main types of progressive jackpots offered at online casinos are local and pooled jackpots. Local progressive jackpots are exclusive to players at the casino, only wagers made by members contribute to the always increasing jackpot, and it can only be won at that casino. Local progressive increase slower than linked progressive jackpot and often don’t reach the same massive payouts in the same time-period.
Linked progressive jackpots are shared amongst several online casinos and players at all the participating casinos contributes to the same jackpot/s, while the progressive prize can be won by a member of any one of the participating casinos. The benefit of selecting to wager on a linked progressive jackpot is that the contributions from thousands of online players ensure that the top prize increase much quicker and that it always reaches multi-millions.
Video Slots Featuring Multiple Progressive Jackpots
Progressive Slot Machines In Vegas
One of the best-known progressive jackpots is Mega Moolah, which offers players the change to win three progressive jackpots linked to five different slots. The jackpots include the major offering the highest payout, the minor which is in the middle and the mini jackpot rewarding a lesser jackpot prize than the minor and the major.
Mega Fortune created by NetEnt also features three different progressive jackpots with the highest payout offered by the mega, a lesser payout by the major and the smallest of the three is the rapid progressive jackpot.
Unique Progressive Jackpots
NetEnt created, Cosmic Fortune slot is quite unique in that it offers avalanche style play with a total of five jackpots, consisting of a mixture of fixed and progressive jackpots.
Playtech’s progressive jackpot titled Everybody’s Jackpot is an eight payline slot and in remaining true to its name the winner of the progressive jackpot shares a percentage of the prize with players who wagered in the past 24 hours. The winner receives 70% of the progressive jackpot prize, while the remaining 30% is distributed to the most recent participants.
Top Progressive Jackpots by Award-Winning Software Developers
Mega Moolah and Mega Fortune are the best known for their frequent multi-million payouts, although online players have an enormous variety to choose from, and therefore we list some of the most popular jackpots created by premier online software providers.
Progressive Slot Machine
NetEnt: Mega Fortune, Arabian Nights, Hall of Gods, Mega Fortune Dreams, Cosmic Fortune
Microgaming: Major Millions, Mega Moolah, King Cashalot, Tunzamunni, Major Millions
Playtech: Jackpot Giant, Gold Rally, Beach Life, Gladiator, Age of the Gods, Funky Fruits
Yggdrasil: Joker Millions, Empire Fortune, Holmes & the Stolen Stones
Biggest Progressive Jackpot Payouts by NetEnt
The biggest progressive payouts awarded by NetEnt’s progressive jackpots include €7,820,888 awarded by Hall of Gods on the 18th of April 2015, €8,835,872 won on Arabian Nights in November 2012, and Mega Fortune’s mega jackpot has awarded a lucky player with €8,577,104 in November 2015, €11,735,446 in September 2011 and its biggest payout yet was €17,860,868 on the 20th of January 2013.
Biggest Progressive Jackpot Payouts by Microgaming
Mega Moolah is not only the biggest progressive jackpot part of the Microgaming platform it has also recently surpassed its biggest competitor when it awarded the biggest progressive payout on a slot on the 28th of September 2018 when the luckiest player in the world won €18,915,721. Other massive payouts by Mega Moolah also includes £13,212,882 in October 2015, $11,633,898 in November 2016 and $10,423,223 in April 2016.
Biggest Progressive Jackpot Payouts by Playtech Slots
Playtech’s signature progressive jackpot is Beach Life which awarded its biggest payout to date in February 2012 when an anonymous winning cash in a prize worth $5,219,723, other high payouts also includes £3,780,736 in July 2015 as well as $4,248,570 in December 2009. Other high payouts awarded by Playtech slots include £3,917,927 in January 2016 via Jackpot Giant, and Gold Rally awarded £3,917,927 in November 2013.
Biggest Progressive Jackpot Payouts by Yggdrasil Gaming Slots
Yggdrasil Gaming is a newcomer in the world of progressive jackpots games, although the developer has accumulated quite a list of big winners in recent years. The highest rewarding jackpot is Joker Millions, which have rewarded a €5,196,319 on the 4th of July 2017, €3,475,894 in October 2017, €3,201,285 in December 2016, and €2,881,257 in July 2016.
Mega Moolah vs Mega Fortune Progressive Jackpots
Mega Fortune is inspired by a wealthy theme. It represents the flamboyant lifestyle that awaits the winner of its mega jackpot across twenty-five paylines and five reels. While the background displays an evening-sky enjoyed on an island, lounge music sets the mood. The theme related symbols all drenched in gold and diamonds includes golden rings, silver and gold cufflinks, designer watches, cognac & cigars, limousines and a stack of cash kept orderly via a gold dollar designed money clip.
Ten different bet levels are available to select from, while the coin value starts from a minimum of $0.01 up to $0.50. Packed with bonus features, Mega Fortune enhances winning chances via wild yachts paying maximums worth up to 10,000 coins, champagne scatters releasing free spins and bonus wheels unlocking the door to the jackpot bonus round. The main attraction is the three progressive jackpots displayed directly above the reels, which includes the rapid, major and the mega jackpots.
Mega Moolah is inspired by the freedom of nature, it’s twenty-five paylines transport players to the wild where a purple monkey throws the bonus, and for the lucky winner, he predicts a life of riches. Apart from four progressive jackpots, Mega Moolah also features an array of fantastic bonus boosters including the wild lion replacing all symbols to increase combination winnings. The monkey represents the scatter, and during the free spins bonus round all payouts are tripled.
Once the jackpot bonus round activated a window appears over the main game, and the player gets the chance to spin the wheel. The colour the bonus wheel halts on determines which of the progressive jackpots are won, the mini activates on red, the minor jackpot triggers on orange, the major n yellow and the mega jackpot pays out should the wheel land on the paw prints on the grey area.