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Way back in 1986, International Gaming Technology (IGT) introduced the first progressive jackpot into the market. The Mega Moolah slot (still around today and available here at Bitcasino), rocketed online casino slots into a new and unprecedented “Golden Age” of gaming.
We’ll take some time to run through the ins and outs of progressive jackpot slots. What are they? How do they work? And most importantly, what strategies can you put into practice to win a slot jackpot?
Simply put? Any game with an accumulating jackpot is considered to be progressive.
Primarily applied to slots, each time the game is played, the machine will reserve a portion of a player's buy-in to add to the overall jackpot. It basically keeps going like this, accumulating and adding to the pot until a lucky player hits the right combo and breaks the bank wide open.
The machine follows the same pattern as any other slot, where the right winning combinations need to be landed on, according to the number of paylines a player has chosen. However, where traditional slots have fixed payouts, there’s no telling how high a progressive jackpot slot can (and does) climb.
When logging into a game, players will see the real-time jackpot displayed on screen and can track it from day to day as it climbs higher. The top prize can be scooped up at any time, and with payouts running into the millions, the rewards can be truly extraordinary.
Fun fact: Some of the biggest jackpot winners have won after placing very small bets. For example, back in 2018, an anonymous player staked 75c on Mega Moolah. For their nominal buy-in, they walked away with a $22.3 million jackpot payout. Not bad for one gaming session.
Progressive jackpot slots are as straightforward and fun as they come. And, with a chance to win a jackpot of epic proportions, it’s no wonder these games are some of the most popular in online gaming today. However, here are a few things to know before wagering on progressive slots:
Competition: Some online progressive slots are hosted by multiple online casinos. This means that players from all around the world might be competing for the same jackpot. On the plus side, the more people that play, the higher the jackpot will climb. But, on the flipside, this can make for some pretty fierce competition, and decrease a single player's odds of winning. So keep this in mind and check your expectations when wagering on progressive jackpot slots.
Buy-in: Progressive jackpot slots usually take a maximum 10% of a player's wager. This will continue for weeks and months on end (sometimes longer) until someone wins the accumulated jackpot. From there, the machine will reset back to a predetermined value (usually around $100, 000) and start to accumulate all over again.
Payout: There is no real way to tell when a jackpot will be paid out, however the frequency of the payouts does depend on the size and reputation of the progressive slot. If the game is a household name being played across multiple locations, it could take as long as 5 to 6 months. If the jackpot belongs to a local online casino, this could drop to several times a month. When the jackpot has been won, the casinos will pay out 100% of the jackpot.
Don't just chase the monster jackpots: As mentioned earlier, progressive jackpot slots can become highly contended when many different players are wagering at the same time. Yes, the pots are massive and a $10+ million jackpot is beyond tempting for any player, but at the same time the competition is stiff, and a better tactic might well be to sift out the newer jackpot slots that aren't as popular yet. Of course, the takings won't be nearly as high, but at the end of the day, as with all games of chance, it’s a toss up between easier wins, or long shot wagers.
Wagering requirements: When considering your strategy to win a jackpot, you should take note that different progressive jackpot slots have different wagering requirements attached to them. More often than not, they will expect a fixed buy-in for a player to qualify and be put in the running for the overall jackpot. Make sure your wagers meet the minimum qualifying amount and bet higher where you can. Jackpot slots do carry higher wagering requirements, but if you’re after the top payout, you’ll need to spend a little more in the process. Be sure to check out all the information of a given slot before starting to play. You can usually find this on the homepage of the slot screen.
Look for jackpots that may soon hit: Comb your online casino site and find the games that are long overdue for a jackpot payout. Playing these games will automatically raise your potential to hit a long awaited jackpot.
Look for in-game features: The best progressive jackpot slots have immersive gameplay, state-of the-art graphics, and most importantly, hidden features that could help you boost your onsite earnings from the get-go. Gaming providers like Play’GO, Betsoft, Netent and Red Tiger are known to build their progressive jackpot slots in with a host of hidden player incentives, including free spins, bonus rounds, points multiplier and more. These features, when struck into, can raise your payouts and put you in line to qualify for the overall jackpot.
Find the right promotions: Online casinos frequently run promotions, incentives and codes that can be used on a multitude of different games, including progressive jackpot slots. Sign up for an account and see if you are eligible for any welcome offers or similar. Additionally, sites like Bitcasino.io and others have dedicated player Loyalty Programs that feature different rewards that can be used in gameplay.
With 7 different levels and unlimited milestone rewards, the Bitcasino Loyalty Club gives players instant rewards and points multipliers, including a 10% cashback and free spins on their favourite games. And all with zero wagering requirements. Sign up to Bitcasino.io today and get full access to unlimited loyalty.
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