Jackpot slots-A paradigm shift has taken place in casinos with progressive slots ruling the roost!
What Makes Progressive Slot Machines So Popular?
In the days of old, casinos generated the vast majority of their revenues from table games like Roulette, Craps and other attractions like Blackjack, Texas Hold'em Poker and Baccarat. Slots formed a minor component of casinos’ revenue streams back in the day, but times they are a changing. Nowadays an estimated 65% to 75% of a typical casino’s revenues are generated through slots games. To be fair, that number includes video poker, electronic games, video blackjack, video keno and video slots. However the overall trend is clear: there has been a shift towards the bright lights, and jingling jangling allure of the slots. We have come a long way from the mechanical slots games of the past where levers, springs and gears comprised the machines that we have come to love today. Nowadays, everything is electronic and governed by complex software programs known as Random Number Generators (RNGs). There are all manner of slots games available to players, starting with classic slots, themed slots, video slots and the mega-money slot machine games – progressive jackpot slots. It is this latter category of slots which dominates the scene at casinos and online casinos the world over. Technological innovation has allowed players to connect to the same networks that other players hundreds, perhaps thousands of miles away are playing on. Computerized chips, Internet technology and network functionality has created a marvel to behold in the form of progressive jackpot slots games. The jackpots can grow to be so large as to be unbelievable – $1 million + is standard with the mega-money progressive jackpot slots games.
Players often wonder if their preferred slot machine game is going to pay out – whether it be a progressive jackpot slot game or a standard slot game. Fortunately, there are hard and fast rules at land-based casinos in Las Vegas which determine the hold percentage on different coin denominations. The higher your coin denominations go, the lower the hold percentage for the casino. In other words when you risk more, the casino receives less of every dollar that you spend. The current hold percentages for different coins and wagering combinations for progressive jackpot slots games and other slots games on the Las Vegas strip are as follows:
- When you wager $5 or more, the hold is 3.5%
- When you wager $1, the hold is 4.5%
- When you wager quarters, the hold is 6.5%
- When you wager nickels, the hold is 11%
This is to say that when you are playing progressive jackpot slots games, you can expect to win more when you play higher denomination slots. The lower your coin denomination, the more the casino retains of every bet that you make.
Fixed Hold Percentages from the Box
When a progressive jackpot slot game is released, the manufacturer will recommend to the casino how much the hold percentages should be based on the different coin denominations that exist. As mentioned earlier, the more expensive machines (the progressive jackpot games with higher coin denominations) will have the lowest casino hold. Quarter machines will typically have a casino hold of approximately 7.5% at 92.4% return to player, while dollar machines will have a return to player of 95%, or a casino hold of 5%, and $25 machines will have a casino hold of 3% or a return to player of 97%. This is standard across the casino industry, and it is an important consideration when understanding how progressive jackpot slot machines work. Incidentally, the number of spins that any machine is put through during its life cycle is 10 million – that is what the manufacturer determines to be the correct number to determine the RTP and the casino hold. Now that you have an understanding of how casinos make money off progressive jackpot slot machine games, it's time to get into the nitty-gritty of how progressive jackpot slot machine games actually work and what forms they take.
Progressive Jackpot Slots – The Real Deal
We have already established progressive jackpot slot machine games pool together a percentage of all wagers that are made by players in the network. The proverbial big one – the mega jackpot – is a reference to the progressive jackpot slot machine game that you will see at online casinos and land-based casinos alike. The jackpots routinely spiral upwards of $1 million, sometimes significantly higher than that. To win the progressive jackpots, players will need to line up the correct number of symbols on the requisite number of paylines at the right wagers. You can win a progressive jackpot on the minimum coin denomination, but then you will walk away with a fraction of the total prize pool. This is one of the most important aspects to consider before you wager at an online casino: always play at maximum bets when you're playing progressive jackpot games because you will guarantee that the payout you receive is the maximum payout for the game that you're playing. It's similar to playing video poker and hitting a Royal Flush with 1 coin as opposed to getting a Royal Flush with 3 coins – the payouts are substantially higher and the risk is more handsomely rewarded in this regard.
An interesting point to remember about progressive jackpots is that the payback percentage will always be less than other winning symbols, perhaps even other machines because a fraction of every wager goes towards the progressive jackpot prize pool. This is a reality of all progressive jackpot games – progressive blackjack, baccarat, video poker and slots. In and amongst the variety of progressive jackpot games are 3 unique progressive jackpot slot machines, including standalone progressive jackpot machines, wide area progressive jackpot machines and proprietary progressive jackpot machines. As its namesake suggests, the standalone progressive is a machine that is not linked to any other progressive jackpot machines. A percentage of all wagers made on the machine will go towards the progressive jackpot prize pool and players can see exactly how much is available by checking the jackpot meter. It should be pointed out that the actual jackpot prize pool with standalone progressive jackpots is substantially less than it would otherwise be with wide area progressive jackpots.
Speaking of wide area progressives, these are the mega-money progressive jackpot machines. They feature a substantial number of interlinked video slot machines which are independently run. Typically, casinos or online casinos will share in the winnings, but the actual software manufacturer/owner has full rights to the games. Overall, the payback percentage on wider progressive jackpot games is substantially less than it is on proprietary progressives or standalone progressives. In terms of RTP and casino hold, you should remember that wide area progressives are notoriously low payout machines percentagewise, but when they do make payment they are often life changing sums of money. It is always advisable for players to allocate a set budget towards wide area progressive jackpot play. These games may not pay out frequently, but it is the allure of the monstrous jackpot payouts that reels in players left right and centre.
Conventional wisdom dictates that instead of playing wide area progressive jackpot slot machine games, you should focus your attention on other forms of progressive slots because their payout rates are better. The last progressive jackpot slot machine variant to consider is the proprietary progressive or the in-house progressive jackpot game. These feature several slot machines or video poker machines or even blackjack machines that are linked together within a single casino. The actual casino may span several properties, but the in-house progressive jackpots are owned and operated by the casino/casino software provider in question. While the payouts are less than wide area progressives, they are substantial and can routinely run into millions of dollars.
Tips for Winning Progressive Jackpot Slot Machine Games
Recall that progressive jackpot slot machine games, like other slot machine games are governed by computerized chips known as random number generators. These randomizers are put in place to ensure the fairness of every single outcome. That having been said, there is no single strategy, or combination of strategies that will guarantee winnings for you. It has been said that the odds of winning a natural progressive jackpot slot machine game are not dissimilar to the odds of winning a lottery. The difference however comes from the fact that every time you spin the wheel in a progressive jackpot slot machine game you stand a chance of winning. In other words you can play multiple times per minute as opposed to waiting for a lottery draw to take place once a week. Another thing about progressive jackpots and slot machine games in general is that they are never due for a payout at any point in time. These games will pay out when the random number generators determine that they will pay out. In other words it is completely based on chance. But there is one inescapable reality of progressive jackpot games: if you don't play you stand zero chance of winning.
There are several tips that you can employ to increase the likelihood that you will win a progressive jackpot game. These are rooted in the decisions that you take before depositing and spinning away. For example, progressive jackpot games with higher wagers generally have a lower hold and a return to player is greater. These games will be more favourable to the player, but will be more costly to play at the same time. Another point is to always wager on maximum paylines at maximum wagers to guarantee that you received the maximum possible payout when it happens. There are scores of popular progressive jackpot games including Mega Moolah, Elvis, Megabucks, Wheel of Fortune and other attractions. These games have built a reputation for themselves as the world's biggest progressive jackpot games with payouts in the millions. This is true whether you're playing online progressive jackpot games or land-based progressive jackpot games.Play now!
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