A progressive jackpot slot is the term for the winning jackpot on a slot machine increases after each spin, until a player actually wins the jackpot, then gets set back a minimum amount determined by the house. So instead of playing a few times in hopes of winning the same amount, each time a player fails to win, the pot increases by a certain percentage determined by a variety of factors, such as how much money a player has bet and how much money is all ready in the pot at the time.
Typically a winner of a big jackpot has to have made a minimum bet, which varies and is set by the house the player is currently in. It is possible for players to still place bets lower than the set minimum and participate in the game, but they should not expect a large payout if they happen to win while using this method.
The Different Types Of Progressive Jackpot Slot Machines
The name “progressive jackpot” is a little misleading. There are in fact, at least three different types of progressive jackpot machines. They all have the same basic mechanics, but the scale on which they operate on varies:
1. Stand-alone progressive jackpots are slot machines where the machine’s jackpot is only fuelled by what the players have out into that specific machine. If a player bets $5, and the machine only has $500 in it, then the jackpot might only be about $20. Because of this factor, the jackpot payouts tend to be in smaller amounts.
2. In-house progressive jackpots are slot machines where the machine’s jackpot is fuelled by the network of total slot machines in the actual casino. They also might include machines that are physically different casino locations, but are owned and operated under the same company. Linking the slot machines like this helps the big jackpot grow much more quickly, which can entice players to keep placing bets.
3. Wide area progressive jackpots can include a network of slot machines that are owned by many different casino companies. These jackpots tend to be extremely large (think hundreds of dollars if not millions) and are being added to by hundreds of thousands of players placing bets on a regular basis. This also means that winning the big jackpot becomes increasingly competitive, due to all the people who are contributing to the large cash prize.
The Pros Of Playing Progressive Jackpot Slot Machines
The pros to playing one of these fantastic machines are pretty simple-if a player wins the big jackpot, they are pretty much set for the day. The prize could be well into the hundreds of thousands, which is a pretty amazing feat for just putting in a few dollars into a slot machine and pulling a handle or pushing a button. The feeling winning with little-to-no-effort is not something that can be easily recreated, and is instantly gratifying. Even playing the stand-alone machines and winning pots as little as $25 or $50 can be satisfying for many players, and encourage them to stick around the casino and try their luck in other games that they might not have considered playing before. A few minutes at a progressive jackpot slot machine can brighten up the average player’s day and inspire them to keep coming back for more.
Another pro is that some casinos will offer memberships into slot clubs. These slot clubs often offer players a percentage back on their lost wages, sometimes even in the form of cash. This can be a particularly positive perk to the players that don’t want to play strategy games at the card tables (such as poker or even craps) or for players who would rather place bets by themselves and be with groups of people watching them or competing against them.
The Cons Of Playing Progressive Jackpot Slot Machines
The cons are unfortunately also pretty straight forward-the odds of winning are very slim, especially when aiming for the bigger jackpots. While it makes the overall pot look good, in-house and wide area progressive slot machines are being funded by a lot of other players at one time. Another thing to help grasp the sheer amount of number is the fact that the big jackpot is always just a small percentage of what is actually being put into those machines. The house is running a business, and will not likely payout anything that will out itself in the red. While the pot grows as no one wins, the real true winner with progressive slot machines is the house, most certainly.
Another con with playing progressive slot machines is the fact that they are based purely on chance and luck. There is practically nothing a player can do to increase their odds while placing a bet and pulling down the handle. If a player needs six cherries to win the jackpot, yes there is a slight chance that they will get al six cherries, but that chance decreases dramatically depending on the possible combinations of other symbols that machine holds. There could easily be twelve different types of fruit on each wheel, and with six wheels the chances of hitting that one specific combination are astronomically high.
How A Player Should Approach Progressive Slot Machines
With most games of chance, players looking to place a bet or two on a progressive slot machine have nothing to fear-there is no harm in making a few low or minimum bets for a handful of turns. It is best to stick to the stand-alone progressive slot machines if the player has a choice, because while the jackpot will be smaller compared to the wide area jackpot, the chances of winning even a little bit of money are slightly increased. Unfortunately, it is easy to get sucked into dumping more and more money into a slot machine as the player sees the jackpot increase each time they fail to cash in. This will deplete a player’s bank rather quickly, and make it so that a player cannot participate in other games that they might actually have a better chance at being successful at, like poker or blackjack. As long as the player divulges in progressive slot machines only occasionally, the probability of having a good time while playing goes up drastically.
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