Much has been talked about the Progressive Jackpot. In fact, the Progressive Jackpot will provide the fastest way for any casino players looking to strike it rich in their casino betting. With the online casino gaining quick popularity, more and more players are placing their bets frequently in hope of winning the Progressive Jackpot. In order to win it, casino players need to understand what it is and how the jackpot actually works.
During the early days, there is no such thing such as the Progressive Jackpot. At the beginning of 1980’s, the Progressive Jackpot is only made possible when the microchips for slot game was first invented. During March 1986, this type of jackpot starts to gain huge popularity when multi-site linked progressive slot game machines finally introduced by slot machine manufacturer IGT.
The Progressive Jackpot can quickly accumulate in jackpot amount because it is contributed by different machines which spread across different casinos. In only a short period of time, casino players can see that the jackpot has grown into a very large one. This is due to the fact that the jackpot is being fed by many different machines at the same time. I am sure you have heard or came across people winning the Progressive Jackpot. In one of the cases, we are lucky enough to witness one of the casino players won over $8 million in a single win to claim the jackpot.
How Progressive Jackpots Work
Have you ever wonder how does the Progressive Jackpot work? The mechanism behind this jackpot is very straightforward. All these jackpots will grow by size due to skimming an amount of money through each and every bet. This would also lead to the payout rate on normal wins (non-jackpot wins) to be much lower than any regular slot machine. In a matter of fact, the payout would actually be the same when casino players take Progressive Jackpot into the account.
For an example, if you are playing the linked progressive slot machine at the Las Vegas casino. Usually, the machine would require a minimum of $5 bet per spin. Your wager would then be divided as follow. $0.25 will be added to the progressive jackpot while $1.25 will go to the casino. As for the remaining of $3.50, it will be paid out in non-jackpot win. Besides that, if you are betting in a non-progressive slot game at the same casino, the actual payout would then be as followed. $1.25 to the casino and $3.75 will be paid out on wins.
For the example mentioned above, you can safely assume that the payout rate would actually be 75%. Most of the land casino would typically have payout rates which range from 70% up to 87%. When you compare this with the online casino, the typical payout rates would actually start from 89% to as high as 99.5%!
Online Casino Jackpot
As for most online casinos Malaysia, you can expect a typical payout rate of 95%. The total split for the $5 per spin for online Progressive Jackpot can actually be divided into $0.25 for online casino, $0.25 to be added for progressive jackpot while the balance of $4.50 will then be paid into non-jackpot winnings.
Given such a high payout ratio, it would be obvious that the online casino slot games such as the SCR888 and 3Win8 would be more rewarding. As a result of that, we can see the increasing trend of casino players playing more online slot games as compared to the slot machines in the land casino.
Online Progressive Jackpot Games
Many casino players have been asking us whether how large the Progressive Jackpot can grow up to in the online casino. The answer is pretty straightforward as well. They are growing all the time. In one of the cases, casino players have actually won $1.76 million for the online jackpot. As for the last time we check, the exact slot game has accumulated over $3.5 million in jackpot size. Bear in mind that this amount is still rising rapidly. The interesting part is that a new record is set on every occasion whereby some casino player wins the Progressive Jackpot. This is how interesting and rewarding the online casino jackpot has become. Given such lucrative opportunity, casino players have been actively placing their bets in the online casinos.
Checking back all the past data, a new online jackpot record would be set within a space of less than a year. This is after the current jackpot has been won. It is amazing to see how fast the online jackpot can grow. Only in the past few years, the jackpot size is actually only $1 million. In the coming years, many have predicted that the highest jackpot will actually be paid out from the online casinos.
Picking the Winner
However, casino players need to pick the right Progressive Jackpot games to play at the first place. This would result in better payout and higher winning odds. Choosing the right Progressive Jackpot would not be as complicated as you would have thought. Casino players would only need to beware of what the jackpot starts at, the highest payout amount and what is the average payout amount is. Casino players can easily get this information by browsing the slot game review site across the web.
Tip for Winning Progressive Jackpot
Casino players would expect that the chances of paying out to be greatly increased when the jackpot in question is higher than the historical average. Every time a new record is set as compared to the previous highest payout, the chances of winning the jackpot will increase again. When you are chasing after the biggest jackpot, please stay away from the jackpot that has recently been won. In order for the casino players to win the jackpot, it would be best if they wait until the games historical payout has been passed.