The Basics of Progressive Slot Jackpots
Progressive slot jackpots became a reality in the early 1980's. It happened when microchips were added to slot machines. In March of 1986, the pioneering multi-site linked progressive slot machines were introduced. IGT, a slot manufacturer, made this dream a reality.
This is how progressive slot jackpot works. The jackpots on progressive slots constantly grow through taking a specific amount of money from every bet made. Basically, this means that progressive slots have lower payout rate on normal wins than typical slot machines.
This is an example of how your bet on linked progressive slot jackpots is divided. If you are playing on a fixed five-dollar bet on every spin, the money will be divided this way: 25 cents will be added to the progressive jackpot, $1.25 will go to the casino, and the remaining amount of $3.50 is given as a payout to non-jackpot wins. But if you are playing non-progressive slot machines, this is an example of how your money bet will be divided: $1.25 will go to the casino and an estimated $3.56 will be given as paid out on wins.
The examples stated above assume that the casino you are in has a payout rate of 75%. In actuality, slot machines within Vegas area have the usual payout percentage that ranges from 70% as the lowest and 87% as the highest. When it comes to payout percentages on slot machines, this is where the land-based and online casinos contrast with each other. Online casinos have the typical payout range of as low as 89% and as high as 99%.
Progressive slot jackpots are also available at online casinos. You may ask about how big are the jackpots online. This question has no specific and easy answer except to say that the progressive slot jackpots are constantly growing all the time and at a faster rate. As of May 2007, an online progressive slot jackpot player won over $8 million and that same machine has more than a million dollars in jackpot and is growing speedily.
How will you know if a progressive slot jackpot is a winner? Picking a winner progressive slot jackpot is not that complicated at all. You will just have to know the following: the start of the progressive jackpot, the highest payout, and the average payout. There are many resources that can help you get the needed information. There are plenty of slot sites on the Internet that you can go to get the information you wanted including reviews on any progressive slot jackpot. Just take a few minutes of your time to do a research and it will be worth it.
Online progressive slots have higher payout rates than their land-based counterparts. But if luck is on your side, winning jackpot literally means large amount of money.
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