If you've ever wondered what progressive jackpots are at online casinos, this is where you'll find your answers. These games end up being "Mega Moolah", both in the literal sense of the word and the popular game name, of course, with the possibility of millions to be won.
How do Progressive Jackpots Work?
One of the casino's most exciting games is a progressive jackpot.
As the name suggests, progressive jackpots keep raising the top payouts until the player wins. They are most commonly seen in slot machines, but you can find this payout system on many casino games.
A small amount is taken out of every qualifying bet as seed for the jackpot, typically 1% to 2%. When you have dozens of players playing and wagering huge amounts, the jackpot will keep growing until somebody wins.
The jackpot amount typically starts at around a thousand or a few thousand dollars and then climbs up eventually to millions.
There’s usually a maximum wager tied in with progressive jackpot games. So, if you win the jackpot but haven't wagered the right amount, you won't win the progressive. It's always worthwhile then to pay attention and some time to make sure you know what the 'qualifying bet' is before you make a wager.
When someone wins the jackpot, the value returns to the original seed value funded by the game organiser, and the jackpot grows again from bets by players.
In other words, casinos aren't making big bucks out of these games. They don't get a cut of the jackpot. Instead, they seed the jackpot. Their profits come from the ambitious players trying to make big money. When jackpots get high, the media picks up, and more players join the thrill. That is how the casinos make profits on progressive jackpots.
Are Progressive Jackpots Only Found on Slot Machines?
Some of the biggest progressive jackpots with huge payouts have been the online slots Mega Fortune and Mega Moolah. Las Vegas and online casinos have offered millions of dollars in payouts to slots players in the past.
But you can find progressive payouts in other games besides slots, such as in roulette, blackjack, poker and other table games.
There's a lot of thrill in chasing a progressive jackpot. But you also need to be cautious, especially with weekly cash-out limits.
Video poker games with progressive payouts are common. Most machines will ask you to wager five coins and unlock the highest payouts. If you bet less and hit the top payout hand, you'll not win the progressive jackpot but only the amount listed for your coins. If the minimum wager looks like too much, you could always play for a lower sum per coin.
What's a Local Area and Wide Area Progressive Jackpot?
A wide-area jackpot or a linked jackpot (or a bank) builds up faster, with more players. The jackpot may be spread across a number of slot games or a number of land-based casinos or online casinos running the same software.
You can see why a wide-area jackpot can grow into one of the enormous jackpots you can play as more players join in to expand the jackpot pool. There can be hundreds and even thousands of players joining in on a wide-area jackpot.
Local progressives are connected with single games or a few games at the same casino.
As far as the player is concerned, there is not much difference between these two types of jackpots.
Tips for Progressive Jackpots
Depending on the game you're playing, you'll, of course, have to try and beat the house edge to try and get your hands on the top prize.
The best strategy to win progressive slots games is to manage your bankroll and have massive amounts of patience. You'll need more money to play progressive jackpots than your regular slot machines.
A good strategy is to find a fascinating jackpot because you should be in for the long haul. The longer you sit on a game, with patience, carefully managing your bankroll and sticking at one slot, the higher your chances of winning. Losing patience and swinging to another slot won't help your bankroll.
Instead, look for a feature-rich game with bonus games, special symbols, free spins, and more. It will ensure you'll be interested in a long time in one slot game.
Always Read the Paytable
The best thing you can do to win anything from the prize pool is to be clear about the casino bonus and the slot bonus rules. You'll need to put in real money to withdraw any winnings. Make sure the money you put in is not wasted by illegal wagers that don't win you anything, even on a winning hand.
Most progressive jackpots will give you a paytable with all the information you need about the game. It will tell you what the bonus rounds are, how many free spins you can win, the value of each symbol, the jackpot amount if there are any jackpots you can unlock, etc. Before you make a deposit, make sure to read the paytable and figure out if the current jackpot is for you.
READ MORE: 10 Best Slot Game Singapore You Must Try
The Bottom Line
Progressive slots aren't for everyone. If you're the cautious player unwilling to bet big money for a mega jackpot and have low odds of winning, you should look at other table games in online casino Singapore. But the thrill of a winning combination at hand and the chance to rake in megabucks is a big one.
Many online progressive jackpots will have four games that you can unlock with the right combination. If you win the bonus jackpot, you have the chance to win big; we’re talking millions of dollars. But progressive jackpots don't offer winning slots very often. So you must be able to have patience and a tight grip on your bankroll as you stick to one game that you enjoy. The adrenaline of watching slots unlock and winning free spins as the top prize goes up is hard to match.
