How Often Do Slot Machines Hit the Jackpot?

By Mitch Rice

One of the most special characteristics of online slot machines is a jackpot that can significantly increase the prize we win. The jackpot can be one of the primary reasons that lead us to choose between different slots, so it can be valuable to know all aspects of these jackpots – try Lucky Irish game today.

However, the main question is how often we can trigger the jackpot on a slot machine? Well, there are a couple of essential factors to consider before we can answer this question precisely. So let’s get started.

Factors Affecting the Hit Rate of a Jackpot

Jackpots have long been the main attraction for slot players, whether they are playing offline or online. However, these life-changing jackpots are triggered only once in a lifetime. However, a couple of factors can help you find the best possible game to get yourself a better chance to score a tremendous jackpot.

RTP:

RTP or Return to Player is the theoretical value that gives you an idea of how much of a percentage of your bets will be paid back to you. For instance, if a game has an RTP of 95%, it means that the game will pay 95% of the total wagered amounts during its entire lifetime. Therefore, we can say that the higher the RTP, the higher the jackpot win probability. However, RTP does tell us the likelihood of wins, but it states nothing about how long it will take for a game to trigger a jackpot.

Volatility:

As stated, RTP only gives us a better idea about the game’s payout probability. Still, access to the time it will take to produce those probable payouts is calculated through volatility. The concept of slot jackpot is closely linked to volatility since as the volatility decreases, the jackpots become bigger. However, they will also be less frequent, and if the volatility is higher, the game will produce quick but smaller jackpots.

Variance:

The concept of Variance is often considered to be the same as volatility. However, there’s a slight difference between the two. Volatility tells us about the short-term win probabilities of a slot machine. In contrast, Variance tends to show us an overall idea of the risk factor of a slot machine during a more extended period. For instance, if a slot has a high Variance, the time taken by the slot machine to trigger two consecutive jackpots will be less.

So, when we combine all three of the above-mentioned factors, we can assess how long it will take for a slot machine to trigger the next big jackpot.

Types of Slot Jackpots

Jackpot slots are divided into two types depending on whether they offer a fixed or progressive jackpot.

Progressive Jackpot:

Progressive jackpot machines are usually linked to a broader network, and the pot keeps on increasing with each spin on any of the devices on the web. For instance, a casino has a jackpot network of 5 slots; each spin on any of those five slots will increase the pot prize. The more active players there are and the higher the staked amounts, the more the payout grows. Once the award has been awarded, it is reset and accumulates again. Hence it is known as a progressive jackpot.

Fixed Jackpot:

For the fixed jackpots, the prize in the pot always stays the same as it does not depend on how many players are active. To qualify for the jackpot, players are usually required to adjust their stakes at the highest or a predefined level. Once the pot is delivered, the prize always returns to the same.