Published on February 22nd, 2012 | by Chris Austin0
How Progressive Jackpots Work
Casinos online and offline alike tempt gamers with the lure of large jackpot amounts. Whether its on the roulette wheel, the poker table or the slot machine, the idea of scooping a massive prize has always been appealing to gamblers, and no doubt helps attract more customers to those casinos that are in a position to offer them. In more recent times, online operators have introduced so called progressive jackpots, using aggressive marketing strategies to build a massive network of interconnected players. The upshot of progressive jackpots is massive prizes from pooled money from gamers worldwide, and they provide a number of benefits for both casino operators and gamers alike. But how do progressive jackpots actually work, and how are they structured?
More Favourable Jackpot Odds
Progressive slots are set up to allow for a smaller house edge than standalone slots. Because progressive slots are comprised of multiple, linked slot machines, players benefit from a slight in-built advantage which operators can afford as a result of the sheer number and volume of players. This effectively means that while you will be competing for larger prizes, the odds of hitting a home-run spin and winning a significant prize are weighted more in your favour with progressive slots than with standard online or offline slot machines.
Because progressive slots are interlinked, jackpots are comprised from pooled deposits, enabling gamers to win more substantial jackpots and more substantial prizes all in. Progressive slots derive their appeal almost squarely from the fact that there are more players taking part in jackpot games, and as a result slot operators can afford to offer much more generous prizes across the board to those that are fortune enough to spin a winner. This makes progressive slots, and indeed progressive jackpots games more generally, an appealing prospect for any online gaming fan.
When a gamer plays a slot machine, be in online or in the casino, the default is for the player to be gaming directly against the machine (and previous players on the same machine). Because slots are determined by random number generators and payouts defined as a percentage of income, luckier players are often hampered by smaller prizes from individual machines. To combat this problem, and to give gamers the closest equivalent of a national tournament game, progressive slots were created which network different slot machines across physical casino resorts or across many multiple thousands of players online. This means bigger prizes and jackpots and better odds for gamers, while also being good business sense for the casinos and slot operators – a win/win situation all round.
Progressive jackpots are seen as something of a major draw for online gamers, particularly slots fans who are used to playing with small stakes and prizes. With the network effect of progressive jackpots, it can be possible for players to win much bigger prizes more frequently from the same stakes, giving both gamers and operators a serious advantage over other competing jackpot games.