Progressive slot machines have become a prominent fixture in online gambling establishments. If you are looking to get started in the world of slots, it’s important that you know the intricacies of this type of slot machine. In this guide, we will cover common questions regarding progressive slot machines, such as how they work, the odds of winning, and how often they pay out.
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What Is a Progressive Slot Machine?
A progressive slot machine is a fruit machine whose jackpot rises incrementally as each player feeds the jackpot. A small, predetermined percentage of each wagered coin or credit is added to the overall pool. This can cause the jackpot pool to rise to huge levels over time. With each wager placed, the progressive jackpot’s meter will tick upwards and show what the total prize pool is. Every time a jackpot is paid out, the prize pool will be reduced to its original amount, and the process will begin again.
If you want to play a game that could potentially make you a millionaire, then a progressive slot machine is your best bet.
Types of Progressive Slot Machines
There are three primary types of progressive slot machines: standalone, local, and wide area network progressives.
Standalone Progressive Slot Machines
The standalone progressive slot machine was the first kind of progressive machine available to the gambling market. So many units were manufactured that you can still find plenty of them in casinos nowadays, even though the other two types of progressive slots are now more popular.
A standalone progressive slot machine has the lowest payout out of the three types of progressive slots. The jackpot for standalone progressive slots will typically be less than $10,000, so, this type of progressive slot won’t be a game that makes you a millionaire. However, a standalone progressive slot machine’s payout happens more frequently than that of local and wide area network progressive slots.
Why is the standalone slot’s jackpot so much lower than local and wide area progressive slots? Well, the latter two types of machines are connected to a network of machines, which vastly increases the size of the jackpot pool (more on that later). On the other hand, standalone progressive slots have a jackpot pool that is only fed on wagers placed on that particular machine.
Local Progressive Slot Machines
Local progressive slot machines were the next step in the evolution of progressive slots. This type of slot machine features a higher payout than standalone slots, due to being connected to a network of machines, each of which collects money that will be used for the jackpot. Such slot machines are linked in a particular casino, and the network typically contains anywhere from 12-100 machines. Local progressive slot machines will typically have a jackpot payout of less than $1,000,000. Depending on the size of the casino, the jackpot could even be less than $100,000. It is possible for local progressive slot machines to make you a millionaire, but you would want to play one at a huge casino that utilizes a vast local network.
Wide Area Network Progressives
Wide area network progressive slot machines are the most popular slots on the gambling market today. And for a good reason. With this type of slot machine, the network links together multiple casinos in a state or country. This allows the network’s progressive jackpot to soar to incredible levels. Sometimes, it will even exceed $10 million! The odds of winning a wide area network progressive jackpot are very slim, but winning the prize pool would almost certainly make you a millionaire, if not a multi-millionaire.
What Are the Odds of Winning a Progressive Slot Machine’s Jackpot?
There are no set odds for winning a progressive slot machine’s jackpot. It depends on the type of machine, the maximum size of the jackpot, the size of the network, the machine’s RTP, and more. No matter which way you cut it, however, the odds of landing the grand prize are quite small. Some massive networks offer odds of 1:50,000,000. Based on this, you would have similar odds of winning the lottery.
Playing Progressive Slots Online
Even if you have never played progressive jackpot slot games online yourself, you probably have heard of Mega Moolah and its huge jackpots. Millions of people try their odds at this slot game every single day! Typically, the jackpot only hits once every 4-6 weeks, but there were a few notable exceptions. One such exception was when the jackpot grew from 12/30/2019 until 4/5/2020. When one lucky player finally landed the prize, they earned a massive 16.5 million CAD!
Tips for Improving Odds of Winning a Progressive Jackpot Game
While there is no way of guaranteeing a win, you can still employ a couple of strategies to optimize your chances of getting a progressive jackpot payout. First of all, be sure to check the game’s paytable and figure out what size bet you need to place in order to be eligible for the entire jackpot. If you skip this vital step, you may risk placing a bet that is too small, and you end up not qualifying for the jackpot. Also, be sure to keep an eye on the jackpot ticker and give the reels a spin as the number grows higher. Your odds of winning increase as the total pool enlarges, so take advantage of this.
If you would like to try out a progressive slot game, come check out our vast collection of games. Try your luck and see if you can take home a huge sum of money!