What is a progressive jackpot?
- A progressive jackpot refers to the grand prize of a slot that grows in value each time it isn’t won. For example, if a slot offers a jackpot of $1000 with a progression of $500, any time a player plays the slot and does not win the jackpot, the value will rise by $500. So the next time you play, you will have an opportunity to win $1500.
What are the odds of winning a progressive jackpot at an online casino?
- The odds for winning the progressive jackpot vary from slot to slot. However, they are definitely quite low in general. You have a better chance of winning lower pay lines at most slots.
How do the odds of winning a progressive jackpot online compare to traditional casinos?
- In general, online slots do a better job with progressive jackpots. So, if you are looking for progressive jackpot slots, you should look online.
Can you increase your chances of winning a progressive jackpot?
- No, but you can improve your betting strategies. By doing so, you will keep playing the game longer. Just by having more opportunities to spin, you increase your chances of winning the progressive jackpot.
Are progressive jackpots at online casinos fair?
- Progressive jackpots online are fair. However, like all casino games, these games have a degree of house edge. However, you will find safe and legitimate games if you play at licensed casinos.
Different Types of Slots
Slots are, by far, the most popular games when it comes to gambling. In any casino, you are bound to find dozens or even hundreds of these machines lined up close to the entrance. The same is true for online gambling as well. Most websites house hundreds or even thousands of different slot games with various offers and mechanics.
Since these games are so popular, there are a lot of different sub-types of slots. The most popular one is, of course, the classic reel type. These are the standard fruit machines you will see at most of the world’s biggest and most popular casinos. When you watch films set in casinos, the fruit machines on display are likely classic reel games.
Video slots are the online version of these games. As simple and as fun as the classic game, video slots are incredibly popular among online gamblers. However, another popular type of slot has recently gained prominence, which is the topic of our article.
Progressive Jackpot Slots
Progressive jackpot slots are slot games with a growing jackpot value. The way they work is quite simple. Every time gamblers play the game without hitting the jackpot, the value of the jackpot increases by a certain sum.
For example, if a slot offers a jackpot of $1000 with a double progression, it means that every time a gambler spins the reels and doesn’t hit the jackpot, the value will double. So, the progression should look something like this:
$1000 – $2000 – $4000 – $8000 – etc.
Please be aware that most online casinos jackpots do have a set limit that they will hit, even if they are progressive. Also, you should be aware that once a player hits the jackpot, the progressive jackpot resets back to the original price. The value of the jackpot can’t grow indefinitely.
Note that the player doesn’t have to be the one that has been playing the game and farming the jackpot. Anytime the slot pays the jackpot, the prize returns to the original value.
Progressive Jackpot Odds
Calculating the odds of hitting a progressive jackpot slot is not as simple as it may seem. The reason is that several factors go into calculating the odds. From return-to-player rates to variance rates to the gaming software used to develop the games, these factors influence the odds of winning a progressive jackpot at an online slot.
However, by analyzing all the factors, experts and analysts have pulled an average. And the average odds of a person winning a progressive jackpot at an online slot is 1 in 30 million. Now, that may seem like an incredibly high number. However, the chance to win the lottery is 1 in 300 million.
Online vs. Traditional
Another question we should answer is whether it is better to chase the progressive jackpot online or in land-based establishments. While both have their pros and cons, most people will agree that online gambling provides a better environment for progressive slots. Let us look at some factors that make iGaming the better choice.
1. Better odds
Online slots provide better odds for the progressive jackpot. The reason is simple. Online casinos are not restricted by space, meaning they can run multiple games simultaneously. Thanks to this, the chances for pulling the lucky spin increase significantly.
2. Lower deposits
Low minimum deposit limits mean that gambling online offers more chances for spinning. The more you spin, the more likely it is you will get lucky. So, online slots have land-based casinos beat in that department.
3. Lower volatility rates
Whether you are playing slots online or in beautiful Las Vegas, you need to pay attention to volatility. And the volatility rate online is much better than in land-based casinos—just another reason to check out the burgeoning iGaming industry.
The 21st century is marked by vast technological improvement. All aspects of our lives have been touched by improved tech, including the entertainment industry. We even have games like progressive jackpot slots, primary thanks to digital technology changes. And in 2023, you can access these excellent games online.
In this article, we have laid out a pretty good case for why you should play progressive jackpot slots online. You will have better odds of winning the grand prize. Though, please remember that winning the grand prize is still tricky. So, before you start playing, do the proper research on betting strategies and responsible gambling to avoid any future problems.