Archive for December, 2014

Progressive Jackpots Explained

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Progressive jackpots are prize funds that are added to little by little every time someone playing the game makes a wager. By shaving a small fraction off every wager to put into the progressive jackpot fund, which is triggered when a player hits a particularly rare combination, these jackpots can build up to vast sums well into the millions. The most common progressive jackpot games are slots but progressive jackpots can also exist for casino table games such as poker. For example, some casinos may have a progressive jackpot fund set aside for a royal flush. So if a player gets a royal flush they will win not just the round of poker being played but also the progressive jackpot.

Types of Progressive Jackpot

Progressive jackpots can either be linked to an individual game at a single casino or be a fund shared between several casinos all offering the same game, powered by the same software. The latter, for obvious reasons, tend to be the largest progressive jackpots. How the contribution towards the progressive jackpot fund also differs between different games. Slots will have this built into the overall percentage of takings paid out so there will be a tiny fraction fewer standard wins with the difference, probably a fraction of a percent, going into the progressive jackpot fund.

In games like poker and other casino table games a progressive jackpot fund is usually built up using side bets. Like a lottery progressive jackpots are usually not statistically financially beneficial to players but add to the entertainment value of playing. Players accept the probable loss of their contribution to the progressive jackpot fund for the chance of a potentially life-changing jackpot in the unlikely scenario they happen to be the one to hit the jackpot. There is also a significant advantage for the casinos in terms of the publicity generated by huge progressive jackpot wins.

How big a progressive jackpot win is does vary as it depends on how big a fund has built up before a player hits one of the rare combinations set as winners. Because these combinations are statistically the rarest the chances are there will be a pretty hefty fund built up before someone hits it but because of the random nature of those combinations coming out in some instances there might be two winners within a relatively short space of time. This means that the second winner will not have the luck to win a monster progressive jackpot as the fund built up since the last win won’t be huge. On the other hand if the jackpot hasn’t been hit for a long time whoever does eventually get lucky will likely never have the same life again. This is balanced to a certain extent by the jackpot fund always retaining a minimum starting point. So a big winner will most likely receive about 90% of the total fund so that it doesn’t start again from nothing. This means that if another winner follows quickly the second person will still get a reasonably sized jackpot as reward for their luck.

Progressive Jackpot Finally Pays Out after more than 20 years

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Las Vegas attracts slot machine fans from both around the whole of the US and from every corner of the world. Although there are pretenders such as South East Asia’s Macau, Monte Carlo in Europe and Atlantic City closer to home Las Vegas is still undoubtedly the city most of us hold as synonymous with gambling. Amongst the hundreds of casinos in Vegas and the hundreds of thousands of slot machines, there is one slot machine that has built a legendary status around itself. The Lion’s Share slot machine which was to be found at the MGM Grand was a progressive slot machine. This means that as well as the regular payouts and jackpots a small percentage of all of the money paid into it goes towards a separate jackpot activated when the rarest winning combination possible is hit. Progressive jackpots are quite common and can be on a single slot machine in a physical casino or online or online when several casinos offer the same game the progressive jackpot can be linked across the different casinos.

The Lion’s Share is an old-fashioned 3-reel slot machine of a variety generally long retired. Nevada law requires that a slot machine must pay out at least 75% of its takings to players so as its contemporaries were retired around 15 years ago and replaced by more modern machines, the casino kept The Lion’s Share in service, waiting for the moment it would pay out. However, the years passed and the stars stubbornly refused to align for a player to hit the progressive jackpot. By law the casino could have transferred the progressive jackpot sum to another machine but the legend of the slot had gradually built up and every day scores of players came to the casino specifically to try their luck at hitting the jackpot which was growing with each passing day. A spokesman for the casino stated “This game probably gets played about five times more than our average game on the casino floor. Our staff gets asked every single day, multiple times, where this game is, from people who haven’t played it before.”

More than 20 years after the slot first came onto the casino floor it has now eventually paid out, bringing a legend with its own Facebook page and Twitter account to an end. The lucky winner was Walter Misco of New Hampshire, a regular visitor to Vegas over 25 years. He and his wife had hunted out The Lion’s Share machine and put $100 dollars in as the latest to try their luck. And it was their luck as the three symbols required aligned and the machine paid out its $2.4 million jackpot. The casino are now trying to arrange for the lucky couple to be given The Lion’s Share as a souvenir of their lucky break.

Progressive Jackpot Bingo

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Progressive bingo jackpots are a popular draw in the online version of the game but they are in fact nothing new and have existed in traditional bingo halls for many years. The basic principle of a progressive jackpot is that for every ticket purchased by a player to take part in a game, a small percentage of that goes into a separate progressive jackpot fund which grows until someone wins it. The trigger to win the progressive jackpot differs from how players normally win in a game and will consist of players getting a particularly rare combination. As this will not happen in every game, in fact it will statistically happen relatively rarely, this jackpot continues to grow until someone wins it. If this doesn’t happen for quite some time the progressive jackpot fund can grow to reach a quite giddy total.

The trigger to win a bingo progressive jackpot varies from bingo room to bingo room and can even do so between games. However, the most commonly encountered criteria is that to win a player must achieve a full-house within a relatively low number of balls. If that was not achieved then the eventual winner of the game would receive the standard prize and the progressive jackpot would roll over to the next game. Alternatively, a progressive jackpot might be tied to a separate mini game at the end of a session. Here normally a fixed number of numbers would be called and if no player achieved a full house within those the jackpot would roll over to the next time.

Progressive bingo jackpots are common at large bingo chains such as Mecca where the jackpot is contributed towards by players playing at bingo halls all over the country. However, it is in the online environment when the system really comes into its own. With thousands of players playing simultaneously on online bingo the jackpots can reach tens and hundreds of thousands of pounds, and there have been instances of online players winning jackpots into the millions.

Statistically progressive jackpots are not really the best way for players to spend money as the chances of winning and getting a return on investment are relatively small. But the size of the jackpots that are available add to the entertainment value for players and they are happy to pay a very small sum for the chance of winning a potentially life changing jackpot. It is a similar mentality as to why so many people buy lottery tickets each week. They don’t really expect to win but they both enjoy seeing who does and the chance for it to just maybe be them one day.

Best Progressive Mobile Slots

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Progressive slot games work just like any other standard video slot game except that a tiny fraction of the money paid into the game goes into a separate pot which is unlocked only when a particularly rare combinations of symbols comes up. Slot games are programmed to pay out a particular percentage of all of their takings with a minimum set by law in the particular jurisdiction. Usually this is somewhere between 75% and 98%, with most online slot games coming in more towards the top of this scale. This is achieved by choosing winning combinations of symbols using mathematical models that ensure that over enough spins, to balance out the randomness that any individual spin of the reels is subject to, the set percentage of takings will be paid out in winnings.

In progressive slots the percentage paid out in normal play will be slightly less, usually a fraction of a percent. The difference goes into the progressive jackpot fund with is connected to a single or small number of the rarest potential combination of symbols. The mathematical likelihood of that combination coming up on any single spin will be tiny. The jackpot’s balance builds until someone wins it, meaning that the figures are often mind-boggling. It is the chance of huge wins that keeps players entertained and happy to have their chances of winning in normal play reduced ever so slightly. So what are some of the most popular, and therefore presumably the best, progressive jackpot mobile slot games?

Gold Rally

Gold Rally is the most popular of all mobile slots with a progressive jackpot. Despite the innovative creations that slot developers keep coming up with it is still the simpler slot games that tend to prove to be most popular with players. Gold Rally embodies simplicity with its 3 reels and minimalist 8 paylines. This also means that the price per spin even when all paylines are selected is comparatively low. To be in with a chance of winning the progressive jackpot however players have to bet on all 8 lines.

The minimum win on the Gold Rush progressive jackpot is $225 000 but jackpots of more than $1.5 million have been won. Nine scatter icons across the reels activate the jackpot.

Sky Millions

The Sky Millions progressive jackpot slot consists of 5 reels but is again a simple game with just 9 paylines. The progressive jackpot can only be won in a bonus game which is activated when at least 3 gold bar icons come up across the 5 reels. In the bonus game you need to come across two black arrow symbols. If you do so you will go to a final spin on just one reel. To win the jackpot a third black arrow has to come up. If it does the chances are that you will hit a jackpot in excess of £1 million!