If you ever walk by a casino advertising board and notice vast amounts displayed on it, then know that you’re likely looking at a progressive jackpot. These are tempting amounts, ranging from thousands of dollars to life-changing sums to millions. Practically any casino game can have a progressive jackpot, but they are most often associated with slots.
What Is a Progressive Jackpot?
A progressive jackpot is the top prize offered for playing a casino game. Slot machines are the most popular casino game to offer these jackpots, but it’s not uncommon to find them on blackjack, online poker, video poker, live dealer games, and keno. The jackpot amount grows over time as more and more people play. That’s because a percentage of every bet made is diverted towards the jackpot. Using slots as an example, let’s say a player bets $2.50. 10% of this ($0.25) could go towards the progressive jackpot contributions. At the same time, $2 could be paid out to players for average slot winnings, and the casino could take the remaining $0.25 as its uncontestable profit. These jackpots are not easy to win, so the jackpot burgeons and balloons usually go to colossal amounts. The player who eventually wins it can consider themselves to be very, very lucky indeed. After the jackpot is won, the jackpot is reset, and people can start playing again.
Types Of Progressive Jackpots
You can have a “must-hit-by” jackpot or a “mystery” jackpot. A must-hit-by jackpot is only paid out once it reaches a certain amount. Immediately after the previous jackpot has been won, the must-hit-by amount is determined but is only revealed to the public as a range, e.g., $5,000 to $6,000. Therefore, the public does not know the specific amount that the jackpot must hit for there to be a winner, but a jackpot meter is often displayed to inform them how far or close a jackpot is to pay out. Large LCD or LED displays are used for this purpose, and the more the meter fills, the more people are drawn in to try their luck. To win a must-hit-by progressive jackpot, players have to bet the maximum amount possible. The bet that hits or exceeds the specific amount instantly wins the jackpot. The other type of progressive jackpot is the mystery jackpot, which does not have a specific amount to be accumulated before they are won. They could be paid a few thousand dollars or run into the millions. Exciting, right? For a mystery jackpot, it’s also unnecessary to stake any amount over the minimum allowed bet. However, the odds of winning increase as the stake amount also increases.
Winning Progressive Jackpots – Tips
- The most important tip for a jackpot player is to exercise patience. It’s not easy to win a progressive jackpot of any kind because millions of players are trying, and ultimately, it can only go to one fortunate person.
- The above point means that to increase one’s chances of landing the big prize; one must keep trying and do their best to keep their hopes alive.
- It’s also important to budget well. Setting aside reasonable amounts per specific period ensures responsible gambling.
- Use casino bonuses where possible. It’s not every day that a casino will allow a player to do so, but bonuses get extra spins and relieve the financial pressure of trying for jackpots using real money.
- Favor must-hit-by jackpots, which, as explained above, have a clear, specific amount at which the jackpot is paid out. By keeping an eye on the meter, a punter can determine when to increase their attempts at the jackpot.
