Gaming Blog

Progressive Jackpots – What are they?

Progressive jackpots are great for both us and the casino’s, how so you may ask? They give us the chance to win a life changing sum of money, and when we do the casino gets fantastic publicity. Consequently casinos are keen for their customers to win the jackpots offered, sounds odd? When you understand how progressive jackpots work all becomes much clearer.

Progressive jackpot‘s are funded from several different sources that when combined give one lucky player an amazingly large win. How does the prize pool accumulate to such a large amount? This question is often asked by casino slots players who observe how fast the jackpot increases in value, compared to the normal slot machines. They do it by accumulating a prize fund off multiple slots rather than off just the one. This is achieved by taking a percentage off the earnings of each individual slot machine incorporated in the fund. These are then combined to provide the large prize pool offered in the progressive jackpot. It stands to reason that the jackpot will be far larger if it is made up from many different contributors rather than just one. Having lots of contributors will also make the jackpot expand many times faster than the standard, single jackpot. Of course there are consequences for having the chance of winning such large amounts of money, and that’s the chance of winning it; the payback percentage is much lower on progressive slots than on standard slot machines. However, Players that enjoy the thrill of playing for the big win, love the excitement of playing progressive jackpots! More reason to play slots read this article.

There are three different types of progressive jackpots, these are: In-House slots, Stand Alone Progressive slots and the Major Progressive Jackpots. The major progressive jackpots usually have the biggest prizes as they are managed by individual operators that spread the fund through many different casinos online and don’t have to worry about competition. They have a larger number of slot machines giving a percentage of earnings to the big jackpot creating a very handsome win! Then there are the In-House progressive jackpot slots which are managed by a single casino, these draw their prize pool from the slot machines within their own casino, or casinos that are run under the same association. Finally we have the Stand Alone progressive slots, these are the least popular. This type of progressive jackpot does not create the large prize by taking a percentage of the total revenue generated by the slots within the fund, but rather by limiting the payout on the minor wins, so that they can put more towards the main jackpot.

As you can see from the way the progressive jackpots are funded, there is little impact on the casino’s profits but when there is a big win the media coverage provides great advertising for the casino concerned. This generates fresh income from the new players attracted and gives a new incentive to the existing ones.