Progressive Jackpots by top10gambling.net

Progressive jackpots are the games to play if you are looking for a life-altering win. They offer huge returns running into millions of pounds, and the best thing is you don’t even have to bet big to win big! Many winners have hit a progressive jackpot riding on a nominal bet amount.

Progressive jackpots are attached mostly to slots. They work the same way as regular slots except that the jackpot is not a fixed amount; it keeps on rising the more the slot is played. Other games with progressive jackpots include blackjack, Caribbean Stud, Poker and Video Poker. The integrity and reputation of the software providers offering these jackpots – secured by testing and auditing by reputed independent testing agencies – ensure that they are trustworthy and the payouts are instant. 

Once a lucky player hits the progressive, the jackpot is reset to its minimal amount, which itself usually runs close to a million. If the jackpot resets itself when is a good time to hit it? The best option is to go for the big jackpots when they are at peak value so you get a shot at it before some other lucky player cashes in and snatches your grand prize.

What Are the Chances of Winning a Progressive Jackpot?

Progressive jackpots are huge, but there is no sugar-coating the fact that chances of hitting one of them are not as high as that of winning a fixed one. This is because of the hit frequency, which is related to how often machine gives out a winning combination. The higher the jackpot potential the lower the hit frequency. That being said, people do still win them.

Also, the chances of winning a progressive jackpot remain the same regardless of its size. The likelihood of your winning a progressive jackpot, therefore, remain the same irrespective of whether the jackpot value is £100,000 or £10,000,000. If you believe it’s easier to win when a jackpot is larger you are taking refuge in what is called Gambler’s Fallacy, a very untrue assumption that ‘something is more likely to happen if it hasn’t happened recently’.

On an average a progressive jackpot is won every 3 to 6 months. Sometimes you hear of multi-million dollar wins every other week from different parts of the world.

Most Popular Progressive Jackpots

While knowing all aspects of Caribbean Poker is important, one aspect you should not miss out on is learning the various terms used in the game. Knowing the terms simplifies gameplay and puts you at ease when you are playing. The following is a list of key terms used in Caribbean Poker:

• Mega Moolah
• Hall of Gods
• Mega Fortune

Mega Moolah

There are progressive jackpots, and then there is Mega Moolah. Mega Moolah is a Microgaming slot that is called the Millionaire Maker, and why not: it has a guaranteed minimum mega jackpot of $1,000,000! It stormed its way into the record books on 6th October 2015 when British soldier Jonathan Heywood won £13.2 million. That record has since been broken, but the consistency with which it has churned out winners makes this one special.

Want to check it out? Click on the link below to play for free!

Mega Fortune

Mega Fortune is a fantastic progressive slot from NetEnt that is known for its high-value wins. This 25-payline slot is themed on fortune and wealth and that seems to have impacted the way it operates positively, with a number of players hitting some very high value wins. The world record jackpot win in fact has been on Mega Fortune – €17,861,800 – scored by a man from Finland. That is not the only win; there was another €11,736,375 win scored by a player from Norway on 24th September 2011.

Hall of Gods

Hall of Gods is a progressive jackpot slot from NetEnt that has a Nordic theme. The average top payout in this progressive slot is a cool €5.5 million and there have been players who have hit above that mark. On 18th April 2015 an anonymous player won €7,820,888 on this game. Before that, a Swedish woman won €7.6 million on the game at the Unibet casino in November 2012.

Progressive Jackpot Payout Policies –Will I Get Paid?

One question that springs to mind when we talk of progressive jackpots is whether we will get paid, and if yes, how. This is a valid question given that the win amount is huge, running into the millions usually. When talking of progressive jackpot payout policies there are two things to consider:

• The policy that casinos have regarding progressive jackpot payouts:
• The presence of a qualifying amount

Casino Policy Regarding Progressive Jackpot Payouts

Casinos usually have a maximum amount that a player can withdraw per week. At all the top casinos offering progressive jackpots, this condition excludes the winnings from a progressive jackpot. Even so, the sensible thing to do is read up on the casino’s terms and conditions regarding progressive jackpot payouts. It is better not to play at a casino with such terms.

All the casinos on our list pay out progressive jackpot winnings in full; it is one of our basic review criteria. There have been instances of rogue casinos misleading players in the past and we want to ensure that our players never experience that!

Presence of a Qualifying Amount

Some casinos require a qualifying amount on each spin for you to qualify for the progressive jackpot. Some others casinos may require you to bet the maximum amount to be able to qualify for the jackpot, for instance. Again, the best thing is to read the rules regarding progressive jackpots at a casino before you play one.

How Do Progressive Jackpots Work?

Progressive jackpots usually have a seed value that is usually high. The jackpot value rises as more and more players play the game. This is because from every wager on the game, a portion is set aside and goes into the jackpot prize pool. That is why you see the jackpot prize pool rise so rapidly and get into the million-pound zone in quick time.

To start with, there are 3 kinds of progressive jackpots:

Types of Progressive Jackpots and Their Definitions

1. Standalone Progressives: These are the original progressive jackpots and are not part of any jackpot network or connected to other machines or games at the casino. The jackpot pool is built solely from the wagers placed on that particular game.
2. Local Progressives: These jackpots are linked to other machines within the same casino. The jackpot pool is larger because it is created by accumulating a portion of the wagers from all the connected machines in the casino.
3. Network or Wide Area Progressives: These are games from a single provider that are connected across different casinos worldwide. The prize pool is generated from wagers on the connected games at all participating casinos, which is why the jackpot grows rapidly and is usually enormous. However, the odds of winning these jackpots are much lower compared to standalone or local progressives.

Progressive jackpots are not found in tournaments. Tournaments are usually timed events: every player gets the same amount of playing credit and the same amount of time to get through them. It is highly unlikely that players would be able to hit a progressive in a tournament because of the time factor.

When it comes to disbursement of jackpot winnings, progressive jackpot payouts are made in one instance usually. But how much does the player get? This depends on factors like taxes – the casino would likely withhold a specific percentage of the win amount if the player has not furnished his SSN and other related details – and form of payment chosen: some players may opt for a lump-sum payment while others may opt for a fixed payment over a period of time.

Also, disbursement of the jackpot also has to consider another factor: the seed amount. If the casino has a policy where the jackpot is reset to the seed amount, would it furnish the entire jackpot won to the player or deduct the seed amount first? These are elements that you would need clarity on before playing the jackpot.

Tips for Playing Progressive Slots

There is no optimal strategy for hitting a progressive jackpot. These are games of chance and with such a huge payout at stake, the odds of hitting one of them are far lower compared to the odds of scoring a win in a regular slot game. Nevertheless, there are a few tips that you can follow when you are looking to play progressive jackpot slots.

Research the Games before You Play

There are different progressive jackpot games and it makes sense to go through them thoroughly before you pick one to play. The size of the jackpot itself cannot be the only criterion; there are other factors to consider. How often has it paid out? What is the reputation of the casino where this game is on offer? Is there any qualifying amount or bet type you have to play with? All these questions need to be answered.

Types of Jackpot Games and Their Descriptions

1. Standalone Jackpot: If you’re looking for a fun game that offers quick but smaller wins, the best choice is a standalone jackpot. Look for a machine that has the highest payouts to maximize your chances of winning.
2. Local Jackpots: These can be found in medium-sized casinos where several slot machines are linked together to provide moderately high payouts. It’s important to check the payout history carefully before choosing one of these games. Avoid machines that have recently paid out a large sum; a safer bet would be a machine where the jackpot is still building up.
3. Network or Wide Area Jackpots: These jackpots offer massive payouts but attract a significantly large number of players. They usually require the maximum bet to be played. In such cases, managing your bankroll becomes crucial. If you have a small bankroll, it’s wiser to avoid these games. While it’s possible to hit one of these jackpots, it’s better to play wisely rather than impulsively.