Online video slots come in all shapes and sizes, but no doubt the titles that enjoy the most popularity among fans are the ones that give them the opportunity to win a life-changing progressive jackpot prize with just one round of reels.
Many of the industry’s best-known online casino operators have added progressive jackpot slots to their gaming collections. Depending on the type of progressive jackpot attached to a slot, the prize can reach even millions of euros. For this reason, a large number of players choose to bet on progressive slots that can change their lives with a bet that often costs only a few euros.
How Progressive Slots Work
The principle on which progressive slots work is pretty simple. Progressive jackpots are actually piles of money that increase incrementally. Each player contributes to the overall cumulation as a small percentage of their bet goes into the jackpot. Jackpot continues to grow until a lucky player triggers the huge win with a defined sequence, such as five bars in a row on the reels.
Once someone picks up the life-changing jackpot win, it all starts over, but keep in mind that progressive jackpots don’t start again from scratch. Progressive jackpots, when reset, start to grow from a predetermined value, known as suit. Seed values can vary greatly from one progressive slot to another. For example, the biggest prize in the popular Mega Moolah progressive slot starts accumulating from a seed value of one million credits after reset. This explains how cumulation sometimes exceeds tens of millions of credits.
Players’ contribution to cumulation is often made differently, depending on the type of game they bet on. For games like roulette and blackjack, players are required to make a small, but mandatory bet to be eligible for the jackpot.
This is not the case when it comes to slots where the aforementioned compensation or contribution is typically embedded in the game’s payout percentage. Since their contribution is already integrated into the game, it is not necessary for players to make an additional bet in order to qualify for the biggest prize. However, this is hardly found in single spins when playing for shorter periods of time. You can see how this only affects your overall budget in the long run.
Progressive Slots Jackpot Meter
One feature that all progressive slots commonly share is the so-called jackpot meter. It shows the current size of the prize pool and is usually located above (or below) the respective slot game. This allows players to track the size of the jackpot and participate with a bet at the right time, when the prize has risen to millions of credits.
There are two important factors you need to keep in mind before placing your bets on a progressive slot. First of all, progressive jackpot slots are said to have greater volatility when it comes to regular winnings. Because progressive slots offer larger payouts, winnings occur less frequently. For this reason, progressive slots are not suitable for everyone, as they require patience, as well as a larger budget that will allow players to face losing spins before earning a big win. Although progressive slots offer less frequent wins, there are special features and bonus spins that will keep players at their maximum and entertain them until they cash out a bigger payout.
The second thing you need to have in mind is that to qualify for the progressive jackpot on some slots, players are required to place the maximum bet allowed on the slot and all paylines must be activated. For this reason it is not advisable to play progressive slots if you do not intend to bet the maximum amount allowed. Imagine the frustration you will feel if you get the winning combination for the jackpot, but you will not be eligible for the prize because you have not met this maximum wagering condition.
Types of Online Progressive Slots
There are several types of progressive jackpot slots that we can distinguish, depending on how the pool is accumulated – autonomous, wide-ranging, owned and “boiling point”. Read on to find out what the differences are between the four.
Autonomous Progressive Slots
Autonomous progressive slots are not connected to other slots on the network. The jackpot of such slots is limited to only one game, in one casino, and for this reason it accumulates at a much slower rate. It only grows when players bet on this particular game. This also explains why the prize pool of autonomous progressive slots is usually lower. However, because the prize is smaller, players’ chances of winning it are higher. Popular slots with standalone jackpots include Aztec Treasure, Mega Joker and T-Rex.
Owned or Internal Slots With Progressive Jackpot
Owned or internal progressive slots are connected to each other through the network of a specific online casino operator or physical gambling venue. Such slots are installed in a single casino or are linked to slots of different gambling properties that share a common owner.
The jackpot rarely reaches millions of credits, but is won more often, especially when compared to the frequency of winning the jackpot of wide-ranging progressive slots. Owned progressive slots are more common in traditional gambling venues, but they are sometimes also available online.
Wide Range Progressive Slots
Wide-ranging progressive jackpot slots are the first in terms of popularity among players, because they have life-changing jackpot prizes that usually reach millions of credits. They are connected to each other in a network operated by several web-based casinos that usually work with the same software. This also explains how and why the premium accumulates at such a rapid rate and reaches millions of credits.
A good example would be the Mega Moolah progressive slot which is featured in the portfolios of most online casinos that are powered by Microgaming software. In fact, most often wide-ranging progressive jackpot slots are operated by third parties (or software developers in this case) and not by the online casino itself. It’s worth mentioning that players’ chances of winning the mind-blowing prize are smaller. In the end, it all boils down to pure luck.
Boiling Point Jackpot Slots
“Boling point” jackpot slots are very popular with fans of this type of game and this is not surprising. We all know that when we put a jug of water to heat up on the stove, the water soon reaches the boiling point, starts boiling and flows past the edge of the jug. This is the case with “boiling point” jackpot slots, only in this case the aforementioned point is not measured in degrees but in a certain amount of money.
Whenever the slot jackpot reaches a predetermined level or “boiling point”, a lucky player is destined to withdraw the huge prize. Boiling point numbers are usually displayed below the current jackpot amount. Of course, players are required to bet the maximum amount if they want to qualify.