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 VideoSlots.com 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 |
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.
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.
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 | Betway.com | Cheshire, UK | £13.21 million |
| Mega Fortune | September 2011 | Betsson.com | 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 | Betsson.com | 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
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 so, how. This is a valid question given that the win amount is huge, usually running into the millions. 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:
| 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.
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.
Know about the Different Types of Jackpots before Picking One
| Term | Definition |
|---|---|
| Standalone jackpot | If you are looking for a fun game that gives you quick, but smallish wins, the best option is the standalone jackpot. Check for a machine that pays the biggest. |
| Local jackpots | You find these at medium-sized casinos where a number of slots are linked together to ensure moderately high payout. Read the payout history carefully before picking one of these games. Do not play a machine that has recently paid out a large sum; a safer bet would be a machine that has the jackpot still building up. |
| Network or wide area jackpots | They offer huge payouts but there will be a significantly larger number of players playing. These are usually playable with the max bet feature on; in such a situation your bankroll becomes a critical factor. A small bankroll would make staying away the best option. You may still hit one of these but better to be wise and play than play in a rush. |
Progressive Jackpot FAQs
The following are some questions that are typically asked about progressive jackpots.
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.
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.
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.
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.
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.
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.