Progressive Jackpots

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Ryan's Thoughts about Progressive Jackpots

Ryan's Thoughts"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 audited by reputed independent testing agencies – ensure that they are trustworthy and that the payouts are instant.

Once a lucky player hits the jackpot, it is reset to its minimal amount, which 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. This allows you 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 a 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 winning a progressive jackpot, therefore, remains 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 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.

Top Progressive Jackpot Networks

There are a number of progressive jackpots available from most of the top providers. The following table lists the software providers, the number of progressives they offer and also their most popular games.

Software Provider Number of Progressive Jackpots Most Popular Jackpot Play At
Microgaming 40+ Mega Moolah Play at Betway Casino read review
Playtech 20+ Jackpot Giant Play at Mr Green Casino read review
NetEnt 12 Mega Fortune Play at Hello Casino read review
IGT 43 Wheel of Fortune Play at Mr Green Casino read review
BetSoft Gaming 15+ Greedy Goblins Play at read review
Play’n Go 12+ Gunslinger Play at Hello Casino read review
Blueprint Gaming 10 Jackpot King Play at Casimba Casino read review
888 Gaming 10 Millionaire Genie Play at 888 Casino read review

Biggest Jackpot Winners in History

The following table showcases the top 10 winners in the history of progressive jackpots.

Game Date Casino Player Location Jackpot Value
Mega Fortune January 2013 PAF Finland €17.86 million
Mega Moolah October 2015 Cheshire, UK £13.21 million
Mega Fortune September 2011 Norway €11.73 million
Mega Fortune Touch November 2015 Comeon’s Folkeautomaten brand Sweden €8.57 million
Mega Moolah November 2016 Yako Casino Canada $11.63 million
Mega Moolah Mobile August 2016 Zodiac UK €7.96 million
Hall of Gods April 2015 Not Available €7.82 million
Hall of Gods November 2012 Unibet Sweden €7.6 million
Mega Moolah March 2009 River Belle Greece €6.3 million
The Dark Knight April 2016 Spin Palace Australia AU$10,423,223

Live Jackpot Values – Direct from the Networks

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:

Term Definition
Standalone progressives They were the original progressive jackpots and are not part of any jackpot network or any other machines/games at the casino. The jackpot pool is created from the wagers placed on that game only.
Local progressives These progressives are linked to other machines in the casino. The jackpot pool is large as it is created by setting aside money from the wagers on all the machines it is connected to.
Network or wide area progressives These are games from a single provider that are connected across different casinos that feature them across the world. The prize pool is created from wagers on the connected games at all the casinos they are present in. That is why the prize pool is usually huge and builds up rapidly. However, the odds of winning they offer are much lower compared to the other two types of 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 to clarify before playing the jackpot.

Progressive Jackpot FAQs

The following are some questions that are typically asked about progressive jackpots.

Can you play progressive jackpots with bonuses?

Of course you can play progressive jackpots with bonuses, but you must understand that there are wagering requirements to be fulfilled for you to be able to cash out.

What happens if I disconnect while playing?

Most of the time the casino is immediately notified if you have been disconnected while playing. You will find yourself at the same place you were in when you get reconnected.

How do I know a jackpot will pay?

Progressive jackpots from reputed providers usually pay because they are tested and certified, and thus their credibility is at stake. Offering a non-paying jackpot would wipe that credibility away in an instant, resulting in unimaginable losses in terms of player acquisition and retention. Also, with jackpots that have a seed amount, there is a probability written into the algorithm that ensures the jackpot ends up paying. You may not be able to predict when a jackpot will be won, but you can be certain that if it is won it will definitely be paid. 

Why do I need to play max bet?

Casinos require you to play max bet when you are playing a progressive jackpot for it increases the chances of hitting the jackpot. Also, playing low stakes may turn off the jackpot element, which is the case with some of the 3-reel games with a single payline. Playing with the maximum bet is a must if it is stated in the terms and conditions. If you don't, you may not be able to trigger the jackpot, and if you do still trigger the jackpot you may not get the maimum payout but only a fraction calculated by the multiplier.

Which are the cheapest progressive jackpots to play?

Some of the cheapest progressive jackpots to play are the penny slot progressives. These include games such as Elements, Disco Spins, Break Away, Octopays and House of Dragons.

Which are the biggest progressive jackpots to play?

Some of the biggest progressive jackpots to play include:

  • Mega Moolah from Microgaming.
  • Mega Fortune series (Mega Fortune and Mega Fortune Dreams) and Hall of Gods from NetEnt.
  • Jackpot Giant from Playtech.
  • Millionaire Genie from 888 Gaming.
  • Aztec Millions from Real Time Gaming.
  • It Came from Venus from BetSoft Gaming.