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Winning the Massive Slots Jackpot is a hard nut to crack. It’s so difficult because Slot Machines are programmed to take in more money than they payout. Remember, gambling is meant for entertainment — it’s not meant for you to get rich. However, with the right tips, you can help your money last longer to.
Are you looking for booming jackpots from slots? Progressive slots are what you are looking for. Progressive machines are some of the most popular slots in casinos, as they offer very impressive prizes running to millions of dollars. Players flock these machines in casinos as no other games offer such lavish pay-outs.
We are going to learn what casinos mean when they say progressive machines, their benefits, and how they work. Read on.
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What are Progressive Jackpots?
Progressive jackpots are pay-outs on gambling machines, such as video poker machines and slot machines, in casinos. They are usually marked as progressive machines, so players may be aware of that before they sit down to play.
Each time the machine is played, the combined jackpot winnings increase by small supplements. The casino sets the small chunks by which the jackpots are increased. Pop slots coolest machine. On numerous occasions, these machines are linked so that the total increases faster as multiple players playing at different machines concurrently.
Each of the slots has a meter that displays the amount of the jackpot and the winning combinations that are needed. On a slot machine, for example, you might need five cherries showing to win. Once you have won the jackpot, the meter resets to the lowest level, and the process starts again.
Gamblers usually have to wager the maximum bet per play to qualify for the jackpot winnings. When the maximum is not wagered, the bet will still contribute to the jackpot, but the player is not allowed to keep the jackpot winnings should it hit on that play.
The Benefits of Progressive Machines
Though casinos have progressive slot machines to lure players to play, the number of machines in the casino are not many. The casino is usually willing to make a small contribution to the progressive jackpot winnings, but the odds always give the casino an edge over the players.
Gamblers love progressive jackpots because if they win, they win big. The size of the jackpot can quickly escalate from hundreds to thousands. Players risk their losses by feeding the slot for a chance to hit the progressive jackpot.
Progressive jackpot machines usually don’t pay out jackpot winnings frequently, because the casino presets the increments. The machine needs to be played for a while. The odds of winning faster pay-outs are on progressive machines are not as good as on regular slot machines.
How Progressive Machines Work
As already mentioned, progressive machines are distinct from other slots because their jackpots increase with every bet. The idea behind is quite simple: a small percentage of every bet feeds the pool of cash until one player hits the winning combination, which sets off the jackpot pay-out. Logically, the highest jackpots are won on games that have the most top wagers and the most players.
When a player hits the progressive jackpot, a few things happen. First, the machine locks up, lights flash on and off, and the player is instructed to call an attendant. The machine then sends an electronic signal to the control to notify the casino about the win.
Most of the progressive jackpot winnings are huge. They range from $10,000 to $1,000,000. Before the winnings are paid, the casino has to send someone to verify that the machine was operating well when the player hit the jackpot. The casino must confirm that the win is genuine.
The player who hits the jackpot can either be paid in cash or check. When the winnings are more significant, the pay-outs could be split. An amount could be paid by check on the day of winning, then the player can set time, say 60-90 days when they can collect the rest of the jackpot or an annual annuity.
Here are a few interesting things that you might need to consider before investing in a progressive jackpot
- Qualifying- this is one of the most important things that a player needs to learn. This is because not every wager on a progressive machine leads to winning an attractive pay-out.
- Jackpot Meter- the jackpot meter is another essential aspect of progressive machines. When the jackpot has been won, the amount of the highest pay-out resets and goes back to the lowest level from which it started.
- Odds and Expected Return- the odds of hitting the jackpot on a progressive slot are usually very thin, sometimes smaller than winning the lottery. If you remove the jackpot from the calculation, the house edge becomes different.
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Who Pays Out the Jackpots?
Smaller pay-outs are paid by the casinos or I-casinos (online casinos). These include the lower level jackpots.
In bigger prize pay-outs, the software company is involved, primarily when the linked progressives are hosted in multiple locations.
The Biggest Progressive Jackpots in History
The highest progressive jackpot ever recoded is $39.7 million. It was won in the Excalibur Casino, Las Vegas, on one of the most famous slot games, IGT’s Megabucks. For a very long time, Megabucks was only available on physical slot machines across many gambling facilities around the globe. This was until recently when IGT added it to a portfolio of online games. Online slots are however, yet to hit such high pay-outs, but they are rapidly gaining popularity and making pay-outs to more and more players.
For example, Mega Moolah is known for the big pay-outs it regularly gives to players across the world. The game is commonly referred to as “The Millionaire Maker.” In 2015, a British army soldier, J. Heywood, won £13,213,838.68, by placing £0.25 bets on Betway. Canadian Marcus Goodwin won CA$11,633,898 in 2016. A Maori man in New Zealand took home NZ$10,144,395.82 a few months before that.
Another remarkable pay-out was of €17,861,813 unexpectedly won by an anonymous Finnish man in January 2013 at Paf Casino. The man got the right combination while playing NetEnt’s Mega Fortune. In 2011, a Norwegian student who was trying his luck with free spins won €11,736,228, while playing the same game.
In mobile jackpots, the highest pay-outs have been at Microgaming’s Mega Moolah. On August 28, 2016, a woman hit a jackpot of €7,968,311.26. She was playing the game on her mobile phone. It was the most prominent mobile win ever recorded until less than a year later in April 2017. A mobile player at Tipico Casino won €8,012,153.35
Conclusion
Progressive jackpots are very popular as they provide stunning pay-outs. They are pay-outs on gambling machines, like slots and poker machines. They are usually marked out in casinos so that players are aware.
The number of progressive machines in casinos are not many. The jackpots winnings also don’t happen as often because the house sets the increments. The odds of scooping the progressive jackpot are minimal compared to other games such as lotteries.
The casino pays smaller progressive jackpots while the software company pays larger ones.
No other segment of the gaming industry has benefited more from the technology revolution than the slot machine. Once considered the ugly stepdaughter placed on the gaming floor to appease the spouses of table players, the slot machine has been transformed into the fairy princess of the gaming world. With her, she has brought a dowry of riches no one would have imagined for the casino and a few lucky players as well. Over twenty years ago the slot machine accounted for 30 percent of the casinos' profits. Today it accounts for about 70 percent. Computer technology and the ability to play with little to no gambling knowledge makes it possible to offer life-changing jackpots big enough to turn a pauper into a king.
However, the fact that it doesn't take much gambling knowledge to play means that most people don't understand the inner working of the slots -- which makes it easy to explain a loss or a win with some false logic. Like any other 'wives tales' these are passed from person to person until they become gospel. Most of these myths and misconceptions are harmless but they can add to your frustration and take away some of the enjoyment of your casino visit. Let’s take a look at a few of the most popular myths and the truth behind them.
Myth #1
Someone hit a jackpot on the machine you just left -- so you would have won that jackpot if you kept playing.
This is probably one of the most common notions about slot machine gambling -- but it's patently false. The slot machines have a computer chip inside that runs the Random Number Generator (RNG). The RNG is continuously cycling through numbers even when the machine is not being played. These numbers correspond to the stops on the wheel that display the winning or losing symbols that you see when the reels stop. When you hit the spin button or pull the handle, the RNG picks the combination at that given microsecond. If you had stayed at the machine, it is highly unlikely that you would have stopped the RNG at the exact nano-second to display that same combination of numbers. In the time it takes to talk with a friend or sip your drink the RNG has cycled through thousands of combinations.
Myth #2
You can tell the odds of winning by counting the symbols on each wheel.
Actually, you can't. The RNG generates a number for each spin. There can be hundreds of virtual stops on each wheel even though you only see a few symbols. For example, you may see 20 symbols on each wheel of a three-reel machine. You figure 20 x 20 x 20 = 8,000 combinations and your chance of hitting the jackpot is 1 in 8000. In reality, the computer chip may program 256 stops for each wheel which makes the odds 256 x 256 x 256 =16,777,216 combinations. Being able to generate millions of combinations is the reason that slots can offer large paybacks.
Myth #3
Casinos can loosen or tighten the slot machines with the flip of a switch.
In actuality, the slot machines have a computer chip in them that determines the payback percentage. These are preset at the factory. In order for a casino to change the payback, they would have to change the chip. In most jurisdictions, there is paperwork that has to be filled and submitted to the Casino Control Commission for each machine if the chip is changed. It's time-consuming and the chips are very expensive. For this reason, it is more economical to decide on the payback percentages before purchasing the machines and having the factory ship them with the proper chip.
Myth #4
A machine that has not been paying out is due to hit.
There is no way to determine if a machine is due to hit. Each spin is a random occurrence and has no bearing on what has happened previously. Don't ever play more than you should because of this misconception -- it will be devastating to your bankroll if you do.
Myth #5
The temperature of the coins played will affect the way a machine pays.
Unfortunately, the machine is not affected by temperature. It doesn't matter if you play hot, cold, old or new coins. The coin slot is a mechanical device and has no feeling.
Myth #6
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If you use your slot club card the machine will pay back less.
This may well be the most damaging myth of them all. There is no link between the card reader and the RNG, but by not using your player's card you are denying yourself valuable comps and sometimes cash back from the casino. Yukon gold online casino canada.