Why are Progressive Jackpots so Exciting?

By Mitch Rice

Why are Progressive Jackpots so Exciting?

Have you ever come across an advertisement for an online casino that had in place a huge amount of cash – mostly to the tune of hundreds of thousands – that casinos offer? If your answer is yes, then you’ve probably seen or rather come across casinos that have progressive jackpots. But again, what is a progressive jackpot? Is it hard to understand how they work? What are the types of such jackpots, such as the ones with no deposit casino bonus or best online pokies real money? Read to learn more about progressive jackpots and why these sorts of jackpots are exciting, especially among casino players.

Progressive Jackpots: What Are They Anyway?

Progressive jackpots are the casino’s offers of the highest payout for certain casino games that continue to rise until a player manages. They are available on plenty of games, such as exciting dice games like craps, though some of the most popular ones tend to be tied or rather revolve around slot machines.

Of importance to note is that these sorts of jackpots mostly run from a few dollars all the way up to millions of money. Of importance to note is that you can find progressive jackpots at both online casino sites and brick-and-mortar casinos too. Most of the games that you can find here require maximum bets for a player to be eligible for the available jackpot amount.

The most common example is a video poker game that comes with a progressive jackpot. You’ll notice that on plenty of machines, you need to wager or bet 5 coins for you to be able to unlock the available top payouts. Therefore, if you’re wagering a quarter video poker machine, then it means that the total bet at 5 coins will be $1.25 per hand.

How Do Progressive Jackpots Work?

As briefly mentioned above, progressive jackpots work somewhat differently. They build over up like Blackstone’s gaming empire to the time where a player manages to win them. If there’s a win, they reset to some certain predetermined level and then begin building again. The way progressive jackpots tend to build is through taking a percentage of every wager made on the game that the progressive jackpot is associated with and then going ahead to add it to the jackpot amount.

One of the most common misunderstandings is the belief that casinos take a big cut of these progressive jackpots. Most casinos tend to realise huge revenue margins on some of their huge progressive jackpot machines, but not based on the fact that they are getting some cut of the jackpot. Mostly, the casinos pay out 100 percent of the jackpot.

A big reason why casinos are in a good position to make huge profits on some of their huge progressive jackpot games is as a result of extra players trying their luck to hit big wins. The media tends to cover the event the moment the jackpot hits high limits and increases the number of participating players.

Common Progressive Jackpot Games

Plenty of progressive jackpot games that you can enjoy are available. However, some tend to be more popular than others are, both offline and on. With the amounts continuing to climb and reset when the jackpot is won, the popularity of such games also goes up and down depending on the amount of top payouts.

There are several progressive jackpot games, and if you don’t find any that you like, you may want to look around to find any that you like at your favourite casino. The following table shows some popular progressive jackpot games that you can find offline or online.

Types of Jackpot in Slots

Besides progressive jackpots that we believe you are now well aware of, there following are some other types of jackpots that you need to know:

Fixed Jackpots

Also known as cash pot jackpots, fixed jackpots are those types of jackpots with some of the highest possible prizes, something that makes the requirement to obtain them somewhat difficult to accomplish. Fixed jackpots are only coined for slot machines that consist of a jackpot prize that doesn’t increase. The payouts for fixed jackpots are mostly 1,000x – 10,000x a player’s wager. One of the requirements needed to win this type of jackpot is by matching 5 of the rarest symbols available in the game.

Local Jackpots

Besides the fixed jackpots and the progressive jackpots, we also have what’s known as Local Jackpots. These ones have in place some sort of an accumulative jackpot payout emanating from players’ wagers but within a specific casino (either online or land-based). Due to the limited bets that are in each machine, local progressives tend to be accompanied by smaller jackpot amounts, mostly in the range of $500-$4,000 on various local jackpot slots.

Network Progressive Jackpots

These are the ones of the most popular jackpots in online casinos. With this one, the slot’s amount emanates from the wagers that players place from around the globe. With a huge input that’s provided by players from several countries, the payouts here may average between $500K – $5million.

Wide Area Progressive (WAP)

This one is the offline equivalent to network progressive slots. WAP slots tend to accumulate a small percentage of the entire wagers for a particular game across several slot machines that can be found in several locations (different casinos and even in different nations, too.) In fact, they can reach payouts of up to $1 million.

What’s the Popularity Behind Progressive Jackpots?

Why do many players find progressive jackpots somewhat exciting in comparison to other types of jackpots? Progressive jackpots tend to be highly popular and exciting compared to other types of jackpots for simple reasons. Progressive jackpots hold huge amounts of money. Some can go even to $500 million, which is quite a big fortune. With that, you can be sure to find many people willing to try their luck here, especially as the jackpot increases.

Conclusion

So there you have it; some of the reasons why progressive jackpots are highly exciting. Among other things, players find progressive jackpots their ideal choice, mostly because they pay well, especially if they strike it lucky.