Online casino jackpots have recently become a pretty common strategy used by online casino operators in order to attract and retain customers. Most commonly progressive jackpots are used in slots. The statistical data arguably proves that slots are the most highly-sought types of online gambling. Gamblers are highly attracted to them because of easiness of the whole process, exciting game stories, possibility to place insignificant bets and dynamic pace of gambling. Another important matter that makes slots extremely popular is that only slots you may win big money with low effort. The maximum amount of wins is known as a jackpot. The prize fund of an average jackpot might vary depending on the amount of stakes made by all gamblers at a time.

Read also: The biggest casino wins

Progressive jackpot

It is also known as cumulative and turns out to be the most popular of contemporary online casinos. A progressive jackpot is a certain prize fund that is formed from certain percentage charged from all bets. The amount of this prize fund depends directly on number of free spins. Progressive jackpots are made from percentage from each bet and taking into account the number of Internet users placing bets, jackpots account for millions of dollars. If a random user happens to get a winning combinations it automatically means that he or she managed to hit a jackpot. If no one is lucky enough to get such a combination the prize fund is not granted to anyone, but increases instead. Progressive jackpots are funded from all bets, regardless of the amount. Thus, the more users are competing for a progressive jackpot by spinning the reels in the slot, the more money gets the lucky winner who managed to hit this jackpot. However, in order to hit it, one should place significant bets.

Progressive jackpot functioning principle

There are no clear strategies of how to hit the jackpot, because no one can predict the results generated by the RNG machine. While playing slots with progressive jackpots one should bear in mind that in order to obtain the maximum amount of wins it is necessary to place high bets. Usually this amount reaches 5 coins. You may bet even less, however, having hit the jackpot, a gamblers gets less wins because his/her bet wasn’t maximum.

How progressive jackpots are made

There are three types of progressive jackpots:

  1. “Stand Alone Progressive”. This jackpot is based on functioning of one slot and all its bets. Such jackpots are not exceptionally big, however, there are more chances to win such a jackpot, compared to the rest.
  2. “In House” – a progressive jackpot made of all bets from all slots of an online casino.
  3. “Area Wide” –stands for an extremely big cumulative jackpot. The whole prize fund is formed by an independent provider charging percentage from the whole chain of casinos using its gaming software.

Jackpot meter

It’s an important informative component present practically in all progressive slots. Online jackpot meters show gamblers the current amount of the prize fund. This is one of the most powerful advertising tools appealing to gamblers’ psychology. That’s why jackpot meters are usually brightly colored and located right in front of gamblers’ eyes. Players are simply mesmerized by the mere fact that they can watch jackpot increase while the reels keep spinning. Moreover, jackpot meters can be seen not only on online casino websites, but they are also actively used as ads on informative resources and banners.

Other games of chance having progressive jackpots

Progressive jackpots nowadays are common for all types of gambling. This might include different versions of video poker, roulette, black jack, lottery, etc. Jackpots can reach impressive amounts of money. For instance, back in 2016, one of lottery jackpots reached the record sum of 1 billion 568 million dollars, a prize that was eventually granted to one of Americans who tried his luck in the game of PowerBall. Previously, the biggest Maryland Lottery jackpot accounted for 640 million dollars. In order to obtain such substantial wins gamblers are ready to take the risk of placing high bets or buying thousands of lottery tickets, etc. Gambling providers benefit greatly from such aspirations. For instance, online casino operators can offer their gamblers to bet on the jackpot itself.

Who pays – casinos or providers?

The majority of gamblers on the Internet are constantly asking whether online casinos are capable of paying off jackpots. Usually, conditions of payoffs in progressive jackpots are noted down in an agreement concluded between gamblers and the casino itself. Big progressive jackpots, as a rule, are based on Area Wide system, while each separate progressive jackpot contributes to the general pot supervised and owned by an independent provider. In such a case, there won’t occur any problems with payoffs. At times, there are instances when 90% of wins are paid by a provider, while the rest 10% are granted by an online casino operator.

Chances to hit a progressive jackpot

You may find thousands of tips online on how to hit a big progressive jackpot. It’s hard to tell whether at least some of them are effective in certain instances. Among the most popular tips you may find the following:

  1. Having made a research on users’ feedback online, choose a reputable casino with guaranteed payoffs.
  2. Bear in mind that only big legal casinos can guarantee big wins and payoffs.
  3. Right before you start gambling, check out the technical probability to win a progressive jackpot from a particular country.
  4. You should have enough money not to put everything at stake.

It is impossible to estimate in advance the probability of winning a progressive jackpot. Everything practically depends upon your luck.

Why progressive jackpots are so appealing to online casino users

Due to their cumulative characteristics progressive jackpots can bring gamblers substantial wins. The majority of users believe that this is the easiest way for them to become extremely rich and change the lifestyle. For this very reason millions of gamblers gamble on daily basis.

Conclusion

Progressive jackpot slots seem to be an extremely effective marketing strategy for any online casino. In order to turn newcomers into loyal users, operators need to elaborate an established system of jackpot payoffs. Another effective marketing approach is provision of information to gamblers regarding statistics of jackpot payoffs. Gamblers’ loyalty plays an important role in successful functioning of your online casino, for this very reason Slotegrator recommends online casinos establishing a sound reputation, especially when it comes to payment execution.