PROGRESSIVE JACKPOT | Basic guide | All you need to know for START

PROGRESSIVE JACKPOTWhat Is A Progressive Jackpot?

It is quite simple to explain what is a progressive jackpot. In casinos, the most popular are jackpot slots. However, you can put progressive jackpot in any game you want. The idea of the progressive jackpot is to take a fraction of each player's bet and add it to the money pool. As you can imagine, the prize pool will increase over time, and there is no limit to it. Then, the longer no one hits the jackpot, the bigger is the main win. Does this mean that there is no prize just after someone hits the jackpot? No, the progressive jackpot has a min. value, which is set after a win. After that, the people play and increase the prize pool, so the cycle repeats.

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Why People Play A Progressive Jackpot?

Because the main reward is so high it can change their lives. However, many other people consider others playing jackpots fools. They claim the chance of hitting the jackpot is so small, it's totally not worth to play. The truth is – it depends. Is it definitely the worst choice in gambling to play jackpots? Quite the opposite. When it comes to the gambling based entirely on luck, that's actually the only mathematical way to have a Return To Player of more than 100%. To understand it, we need a bit of introduction.

Is It Worth To Play A Progressive Jackpot?

The most popular form of luck based gambling are slots, but there are also Roulettes and Fortune wheels, as well as many other games. The casinos earn money by charging a fee for betting (house-edge) or from the Return To Player lower than 100%. The first applies to Roulette and most of the table games. That is the reason why only the best players of Poker earn money. The second refers to slots. For example, you can have a slot designed to return 90% money to the player. In a scope big enough, the slot will yield precisely that percentage. It means that the longer you play, it becomes harder for you to profit. When you look at the calculations, it seems impossible to ever benefit from slots. However, statistics and randomness don't apply much to individual experiences. That's why it's possible for a person to win on slots.

That is different in case of progressive jackpot slots. The longer you play the jackpot, the higher is your chance to hit it, and finally, score a huge amount. And if the win is large enough, you can calculate the Return To Player is higher than 100%. If you had an infinite amount of money, you would profit all the time. Again – the favorable odds don't do much for an individual player, too. Still, you can win on slots even when not hitting the jackpot, and the return is usually higher than in popular lotteries featuring them. But it's completely wrong to say that trying to hit the jackpot is pointless.

How Will The Casino Cash Out My Jackpot Win?

As you can imagine, most of the smaller casino sites won't pay you out the entire win at once. Even big brands rarely do that. Most of the casino rules say that in case of a win, you will get your money in monthly installments. It may be something that you don't like, but on the physiological side, it's actually good. Winning millions can get to one's head, so acquiring smaller parts over time will help a winner sort out a new situation.

The amount you can win in each jackpot depends on its type. There are huge slots that share the prize pool on many websites. The wins can quickly get up to tens of millions of dollars, euros or British pounds. There are also smaller ones provided solely by the casino.

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