Progressive jackpots – Win millions
Progressive jackpots are a type of video poker or slot machine where the player contributes with each game to the value of the final prize. In other words, to win the jackpot, before releasing the final prize players have to play several times, until the machine passes its number of set gameplays.
Jackpots also depend on a certain combination of cards: for example a royal flush, specific for a video poker game, or a combination of some of the most valuable reel symbols on a slot machine.
When a player gets the big prize or the jackpot, the machine will reset itself to the minimum level. Once again, each player contributes to the increase that leads to the jackpot winning. The jackpot level is set up individually by each casino, by the administration and according to internal rules.
Usually, the casino will set a minimum edge contribution, even up to a quarter of the expected profit the machine will produce before releasing the jackpot. Players are usually attracted to invest in the game because the amount they have to invest in a game is relatively small in comparison to the large amount of the jackpot. Some progressives might make the jackpot winning available only to those that invest the maximum number of credits per play. However, all the players that will invest in certain progressives will contribute with a small fraction to the final jackpot.
The Winning Point
In video pokers, Caribbean Stud Poker or Blackjack it is possible to actually calculate the odds that will lead to the jackpot payoff. When the jackpot is growing, it is considered to bring positive expectation to the wagerer, with a return to player (RTP), in a percentage bigger than 100%. When the jackpot is situated under the winning point, it is considered to have a negative expected value.
In addition, the winning point might also be linked to the currency the players invests in the game. Sums are to be returned to the winner no matter the currency he or she is playing, but they are directly linked to the conversion between currencies. For example, $1000 will value €900 or £700. This means that on a fixed game of $1, €1 or £1, the player playing in dollars will be closer to the winning that the ones using the euro or the pound currencies, because of the smaller proportion of the jackpot. If this is the case, the player using dollars to play the progressives will be the one closer to the highest winnings.
The breakpoint can be calculated, but the player has to know all the details about the machine, the reels and the number of symbols. Some casinos make this data available to its players.
A few of the most renowned progressive jackpots are MegaJackpots, Hall of Gods, Mega Moolah, Millionaires Club and Mega Fortune.