The sizes of jackpots in online casinos are measured in hundreds of thousands of monetary units, and sometimes go beyond these limits. One of the biggest winnings in the Mega Moolah slot from Microgaming was $ 20 million and hit the Guinness Book of Records. How is the total amount determined, are the chances of becoming a winner realistic?
Even those who play their favorite slots in order to relax and enjoy the process are tempted by the prospect of hitting a big jackpot. Reputable casinos do not forget about the attractiveness of jackpots, inviting customers to try their luck and win an impressive cash prize. Autcasinos.com experts tell you what jackpots are and how they differ from each other.
What is jackpot
The term appeared at the end of the 19th century – since 1881 it has been used in poker. If during the game none of the participants fell out two jacks, then only part of the pot was played, and the rest was at stake. This amount was constantly supplemented with new money, until someone collected the desired combination and took all the winnings for himself.
This word has long gone beyond the scope of poker and is now used in relation to any gambling game with a prize fund that is formed according to a similar principle. The jackpot is the largest payout, the size of which is significantly higher than the standard. As a rule, this is the maximum amount that can be received as a prize. This is one of the goals of most gambling enthusiasts, regardless of experience and skills.
Main types of jackpots
The most important prize in the slot is not just a conventional million in a vacuum. Often this is a strictly defined amount for each game, the amount of which may depend on several factors: the institution’s policy, the conditions for the formation of the prize fund and the type of the jackpot itself. Let’s consider the most common ones.
Fixed
Its size is not affected by the number of tickets sold or bets made. The amount is set by the owner of the establishment or the software developer. The jackpot is won after fulfilling the set conditions – for example, the appearance of symbols or combinations of numbers necessary according to the rules.
Accumulative or progressive
This jackpot is formed from the percentage of the bets made by real players. The more there are, the larger the final amount will be. The money prize increases until someone has the desired combination of symbols or numbers. When the player hits the jackpot, the jackpot is reset to zero, reducing to the minimum amount (it can be different in each slot).
What are the chances of hitting the jackpot
The probability of winning a really large sum at the casino is not very high, but it is always there. The chances of winning a particular slot depend on several factors.
- In slot machines, this is influenced by the RTP indicator – a fixed percentage of payments to a player that he receives at a certain distance. The optimal RTP is between 95-96%. The size is set by the provider of the licensed software; the institution itself cannot change it. Of course, provided that the supplier is official and verified. This rule does not work in slots of dubious origin.
- The odds are also influenced by variance – one of the key properties of a random number generator. The RTP factor takes it into account. The variance can be low (with small wins on almost every spin) and high (rare wins with large odds).
Depending on the selected slot or game, the main cash prize can be received under different conditions. For example, in machines you need to collect a sequence of symbols, while in poker it is important to form a certain combination of cards.
You can not only increase your chances of winning, but save yourself from losses by choosing slots with an RTP of 95% -97% and taking into account the variance. It is also important not to exaggerate the reliability of gaming systems, because none of them will change the operation of the random number generator and the percentage of RTP. It is important to study the rules for obtaining jackpots before playing, and not to understand the process. Most slot machines require the client to place the maximum bet – only then will he get a chance to win the main cash prize.
Who pays the jackpot
The prize fund can be kept by the online casino or by the provider itself – one of them is responsible for giving money to a lucky player. It all depends on whether it is a local jackpot or a network jackpot.
