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 Slot Attendant will start a 'Daily Session' for you. When a Jackpot between $1,200 to $10,000 is hit at the machine, the machine will prompt you to enter your 'PIN' number at the keypad to have the Jackpot downloaded directly to the Credit Meter. If the 'PIN' is not entered,the Jackpot will be paid by the Slot Attendant.
- What A Progressive Slot Machine
- Progressive Jackpot Slot Games No Deposit
- How To Win Progressive Slots
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?
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.
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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?
How to play poker professionally online casino. 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?
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.
Real Money Progressive Jackpot Slots
What A Progressive Slot Machine
If you want a chance to win a life-changing amount of money every time you spin, then progressive jackpot slots are the way to go.
On your average slot machine, the jackpot has a fixed amount. And while those jackpots aren't a sum of money that you would ever consider turning down, progressive jackpot slots have no fixed amount. The jackpot rises every time players put in coins and spin the wheels. With progressive jackpot slots, you could win anywhere from $10,000 to a couple million. It's just a matter of finding the right progressive jackpot slot and being lucky.
Our real money online casino is proud to offer players a huge number of progressive jackpot games with payouts that can make one lucky player filthy rich. If you believe luck is on your side and that you can claim the massive jackpots, sign up for an account today.
When you create an account, you will have access to hundreds of popular and profitable casino games, including progressive jackpot slots. Collect a welcome bonus when you first create an account and start winning on our dime. Players are entitled to all kinds of perks, including our exclusive VIP rewards section.
The value of the jackpots are only getting richer as you sit here and read this, so what are you waiting for? Give yourself a chance to win big by creating your account today and play one of our money progressive jackpot games today!
How do Progressive Jackpot Slots Work?
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?
How to play poker professionally online casino. 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?
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.
Real Money Progressive Jackpot Slots
What A Progressive Slot Machine
If you want a chance to win a life-changing amount of money every time you spin, then progressive jackpot slots are the way to go.
On your average slot machine, the jackpot has a fixed amount. And while those jackpots aren't a sum of money that you would ever consider turning down, progressive jackpot slots have no fixed amount. The jackpot rises every time players put in coins and spin the wheels. With progressive jackpot slots, you could win anywhere from $10,000 to a couple million. It's just a matter of finding the right progressive jackpot slot and being lucky.
Our real money online casino is proud to offer players a huge number of progressive jackpot games with payouts that can make one lucky player filthy rich. If you believe luck is on your side and that you can claim the massive jackpots, sign up for an account today.
When you create an account, you will have access to hundreds of popular and profitable casino games, including progressive jackpot slots. Collect a welcome bonus when you first create an account and start winning on our dime. Players are entitled to all kinds of perks, including our exclusive VIP rewards section.
The value of the jackpots are only getting richer as you sit here and read this, so what are you waiting for? Give yourself a chance to win big by creating your account today and play one of our money progressive jackpot games today!
How do Progressive Jackpot Slots Work?
The question we're most frequently asked regarding progressive jackpots is, 'Where does all of that prize money come from?' And, luckily, we have a simple answer.
Each time a player places a bet on one of our many progressive jackpot games, a percentage of their wager is fed straight to the jackpot prize pool. Depending on the popularity of any given game, this percentage of each player's wager can climb up to the millions. The pooled percentages of player wagers will continue to grow until the jackpot is won.
Now that you know how the progressive jackpot is created, the question surely on your mind is, 'How do I win the jackpot?' Well, that depends on the particular game you're playing. They all have different specifics of what's required of any given player to collect the grand prize, but in the simplest of terms, a player must typically land on 5 (or more) of the most valuable symbols.
Once the jackpot is won, the meter is reset to the minimum. So, it's a good idea to browse around and find a few different favorite progressive jackpot slots games. This way, you can always be competing for a gigantic jackpot rather than having to wait patiently for the jackpot to rise over time.
Types of Progressive Jackpot Slot Games
There are all kinds of progressive jackpot games that can be found on our online casino. By in large, the main differences players will see between them are purely cosmetic. While we could breakdown each and every progressive jackpot slot game offered at our online casino, breaking down the different combinations, the different bonuses, etc. you're better off knowing the three main types of jackpot games: standalone, local and wide area network.
There are important differences between each of these slot games players need to know about whether they play at our real money casino or elsewhere. And they go far beyond knowing the differences between spinning for five cherries versus spinning for five bananas.
Standalone progressive.
A standalone progressive slot machine has a jackpot ticker, collected from player wagers, but only bets placed on that specific machine feeds the jackpot. Standalones are typically more common in brick-and-mortar casinos. Even then, they have gone out of style in recent years with more casinos preferring to link multiple machines together for bigger jackpots. It's very rare to find a standalone progressive game nowadays, and if you do find one out there in the wild, you should be shocked if the jackpot is anywhere close to $10,000. But they are out there nonetheless.
Local progressives.
Local progressives were the logical evolution of standalone progressives. Rather than one specific machine taking a percentage of player wagers, these games were linked together on a local connection so that anywhere from a few dozen to a few hundred machines were all collecting a percentage of player wagers to drive up the jackpot total. These are still common in land casinos and these games can have jackpots from anywhere to $100,000 to $1,000,000.
Wide area network progressives. A wide area network progressive links slot machines from multiple casinos in the same state. This allows the jackpot to accumulate to incredible, jaw-dropping sums of money based on the sheer number of people placing wagers. Our online progressive jackpot games use this same principle and it's how we are able to offer such huge jackpots. With players from all over the world playing at all hours of the day, the jackpot will steadily get higher and higher. Don't be surprised if these games offer jackpots anywhere in the range of a couple million…
Winning Progressive Jackpot Slots
Inexperienced players and non-gamblers carry many misconceptions about casino games, but the one they seem to understand the least are slots games. For example, a common criticism laid against slots games, both fixed and progressive, is that there's no skill or strategy involved. You just sit there, feeding the machine.This is simply not true. If you have any hope of winning a progressive jackpot slot game, you need to develop a strategy and have a little bit of skill because luck can only take you so far. And, while luck could conceivably take you straight to the top, here are a few tips to get you through the game even when luck isn't on your side.
Look for games with higher payouts. Fortune favors the bold, sure, but being bold doesn't mean diving in headfirst without pertinent information. Progressive slots games can feature payout percentages anywhere from 80 to 98%. Make sure you know what the payout percentage is before you spin to make the most of your time. Knowing this in advance will assist you in bankroll management and choosing a game with higher payouts will be more financially advantageous when you eventually heat up.
Bet the max. Many progressive slots have bonus jackpot games that randomly activate during any given session. According to the rules of these games, the odds of a player triggering one of these random bonus jackpots are increased when they bet the maximum amount. Bonus jackpots are a great way to keep your bankroll nice and comfortable, but make sure you're playing a game with one of these randomly activated bonus jackpots before you're consistently betting the max.
Know your limits. The key to success in any slots game, or table game for that matter, is knowing when to walk away. Bankroll management is the most essential skill for any gambler to master. Setting betting limits prior to playing will make sure you're staying out of the red. It is possible for you to set daily, weekly and monthly betting limits within your account, so sign up today and make sure you set appropriate limits. If you need help setting it up, please get in touch with us and we'll be happy to assist you.
How are Progressive Jackpots Paid?
Progressive Jackpot Slot Games No Deposit
In the event that your spin is the lucky one that claims the progressive jackpot, you'll be entitled to a huge sum of money. And, of course, the first thing you'll want to know is how do I collect all this money? After all, it's probably more money than you've made in a few years.Generally speaking, the progressive jackpots are either paid as a lump sum, or in regular instalments over the course of a couple of years.
Should you be the lucky person that collects a progressive jackpot, then you can expect one of our representatives to get in touch with you and discuss how you'd like your winnings to be handled. Everyone has different financial needs and preferences, and it's our mission to make sure that our players' individual needs are being met both during play and when it's time for payment.
Still, we're getting a little bit ahead of ourselves. Before we discuss payment, you need to sign up, collect your welcome bonus and start spinning. We have all kinds of progressive slot games, as well as progressive card games, for you to try.
In 2015, Mr. Jon Heywood won an astounding £13.2 million--which is roughly 16.1 million USD by today's standards. This record still stands as the biggest progressive jackpot won. If you think you can beat Mr. Heywood's record and get your name in the history books, create your account today and start playing the most lucrative games at our real money online casino.
There are plenty of ways to become a millionaire overnight nowadays, but none of them are as exciting and gratifying as winning a progressive jackpot! All you need to do is create an account now and you'll be immediately in the running to claim one of our many progressive jackpots. The sum of the progressive jackpot is steadily climbing as you read this, and the longer you spend reading this, the closer someone else is to claiming the jackpot. So, don't wait a second longer. Create your account, collect your welcome bonus and give yourself a chance to win big playing one of our many real money online progressive jackpot slots.