Everyone would love to win a jackpot, right? But what is the exact meaning of a Progressive Jackpot and how does it differ from a regular one? And, of course, the most important question of all – how do you know when a progressive jackpot is about to drop? First, we’ll start with an introduction.
What Is Progressive Jackpot?
Progressive jackpots have the biggest payouts of all the jackpots out there. Regular jackpots will be set at a specific amount which doesn’t change, whereas progressive versions are not fixed at all and the amount will continue to increase as more players join the game.
How do Progressive Jackpots Work?
When it comes to playing progressive jackpots online, there are often several casino games that are linked to the same prize pool. This means that the larger number of players playing on each different game will contribute and increase the amount.
The reason they’re called “Progressive Jackpots” is because they keep on growing until someone gets that highly sought-after winning combination. And these prize pools really do grow very quickly, which is the main appeal of Progressive Jackpot wins. The competition is high, but so are the rewards! Random Number Generators ensure that you always have a fair chance of winning the jackpot if Lady Luck is on your side.
How to Win The Progressive Jackpot?
So you may be all ready and excited to win this high rewarding jackpot, but here’s some advice to improve your chances even more:
To win the progressive jackpot in any slot game, you need to bet with your entire wager. This can be a big risk, but keep in mind the popular saying “No gain without pain.” So, if you have the budget for it, then click the bet max button and you are good to go.
In games like video poker and more, the players can devise strategies through which they increase their chances to win the progressive jackpot. Since the amount gets higher each time someone plays the game, there are chances for that amount to reach the break-even point. Break-even point is the stage at which you neither earn profit nor loss. The player can earn a profit when the jackpot amount is higher than the break-even point.
However, there are also some things you need to keep in mind when aiming for the progressive jackpot. For example, you need to know that every progressive jackpot game is subjected to certain terms and conditions. Also, there are online casinos which have strict rules regarding the bonus features in progressive jackpot games, and you need to make sure you’ve read and understand them.
How Do You Know When A Progressive Jackpot Is About To Drop – Tips
In reality, there is no certain way of knowing when a progressive jackpot will drop. However, there are some facts that might help you ‘predict’ the best time to play that progressive jackpot game that you’ve chosen.
Each Progressive Jackpot Has A ‘Seed Value'
Every progressive jackpot that you play will have a ‘seed value'. This is the amount of money that the jackpot resets to after it's been claimed. Seed values vary from slot to slot but, in general, a good progressive jackpot slot will still offer a huge amount, even if it has just been reset.
For instance, IGT's Megajackpots Cleopatra resets to £500,000 immediately after the prize has been claimed. This means that even if you miss out on winning a jackpot when the slot is ‘red hot', you're still in for a sizeable amount!
You Can Track A Jackpot's Likelihood Of Dropping
One of the most exciting things about progressive jackpot slots is that you can see the jackpot soar in real time. As the jackpot grows with every wager, the jackpot figure is constantly rising higher and higher until it's claimed. The fact that you can publicly see the jackpot growing also means you can track it and even try to calculate the likelihood of it dropping.
There are many websites around that will do the tracking for you, but in general it's calculated by assessing how far over the seed value the jackpot has grown and what the average win has been. So, for instance, if a progressive jackpot usually drops at around £1 million yet it's currently boasting a £1.3 million prize pool, you may call this slot ‘red hot' and know that it's time to give it a spin!
The Biggest Progressive Jackpot Wins
To motivate you even more, here’s a list of the biggest progressive jackpots ever won:
3. €11,736,375 on Mega Fortune Slot
Mega Fortune has certainly kept true to its name. A lucky winner was a Norwegian man who decided to play a few games when he couldn’t sleep one night. At the time, the slot actually set the Guinness World Record for the largest ever jackpot payout.
2. £13.2 million on Mega Moolah Slot
The next title of jackpot giant winner goes to the very lucky Jonathan Heywood from Cheshire in the UK. The British soldier hit the record-breaking jackpot win on 6th October 2015 playing at only 25p per spin. Once again it was Microgaming’s Mega Moolah and the lucky winner said he planned to spend most of his big win on helping to treat his sick father.
1. €17,861,800 on Mega Fortune Slot
It was certainly a dream come true for the biggest jackpot winner to date. The lucky 40 something year old man from Finland won the mega jackpot on 20th January 2013 on none other than Netent’s Mega Fortune slot after he placed a 25-cent bet! The winner expressed that he didn’t know whether to laugh or cry when the jackpot dropped. To be honest, neither would we!
To sum up – how do you know when a progressive jackpot is about to drop? You don’t. Let’s be realistic here, if a jackpot prediction was that easy to come by, people would be winning them left, right and centre and the winning amounts would certainly not be much to write about.