How Often Do Slot Machines Pay Out Jackpots
If you’re looking to win a jackpot that could change your life, then progressive slots are the game to play. Let’s face it—you’ll never win several hundred thousand playing blackjack or roulette. The payouts just aren’t high enough.
- Slot Machine Jackpot Videos
- $100 Slot Machine Jackpot Videos
- How Often Do Slot Machines Pay Out Jackpots Cash
- How Often Do Slot Machines Pay Out Jackpots Against
- How Often Do Slot Machines Pay Out Jackpots Money
The purpose of this page is to provide an explanation of what progressive slots are, how they work, and why you might be interested in playing them. We’ve also included descriptions of some of the more popular progressive jackpots available both online and in traditional brick-and-mortar casinos.
What Is a Progressive Slot, and How Does It Work?
If we were to observe it all in a mathematical manner, your chances of hitting the jackpot while playing a slot machine are 27,000 to 1. Even though the winning combo gets generated relatively often, it all comes down to the fact that the probability of pressing the spin button at the precise moment when the jackpot combo is up is extremely low. Every spin on a slot machine is random, so it doesn't matter how long it's been since the last jackpot hit. The jackpot never gets more likely to hit. If the odds of hitting a jackpot on one spin are 1 in 250,000, then they're always 1 in 250,000, whether the last jackpot hit last year or five minutes ago.
On most slot machines, the jackpot is a fixed amount, but on a progressive game, the jackpot rises as players put coins in the machine and spin the wheels. A tiny percentage of each coin played is used to “feed” the jackpot. There are three types of progressive slot machine games.
- The machines accept cash but do not pay out in cash; instead, they print out a receipt which must be taken to a cashier. According to figures from the Oregon Lottery, during its fiscal year from June 28, 2018, through June 25, 2019, the VLT’s had an approximate return of 92.34%.
- How to Win at Slots – 15 Actionable Slot Machine Tips & Tricks. For online slots nuts and enthusiasts, the flash of slots games are known for coming in a variety of themes, payouts, paylines and betting platforms, each featuring staggering arrays of winning potential ready to reward with the next big jackpot.
Standalone Progressives
A standalone progressive slot machine has a jackpot ticker on the game, but only bets placed on that specific machine feed the jackpot. This was, at one time, the only kind of progressive slot machine game available, but most progressives feature multiple machines that are linked together. Still, so many standalone machines were manufactured that these games are still easily found in casinos throughout the world. Usually the jackpot on the games will be under $10,000.
Local Progressives
Local progressives were the next step in the evolution of this type of game, and they’re still commonly found. These games feature jackpots within a specific casino that are linked. This network can include as few as a dozen or so machines, or it can include a hundred machines—it just depends on the casino. Usually the jackpots available on these games are under $1,000,000, and often they’re under $100,000.
Wide Area Network Progressives
These are some of the most popular casino games on the market today. A wide area network jackpot links slot machines from multiple casinos in the same state. This allows the jackpot to accumulate into astronomical sums of money, often over $1 million and sometimes even over $10 million. The most well-known brand of wide area network progressives are the Megabucks games from IGT, which is the most successful slot machine design company in the world.
Slot Machine Jackpot Videos
How Do You Win a Progressive Jackpot?
No strategy or system can increase your chances of winning a progressive jackpot on a slot machine game. The odds of winning are similar to the odds of winning the lottery, although you get many more chances of winning per hour with a slot machine game than you would get playing a lottery game.
Limiting Your Spend. Dividing your bankroll into separate visits is of utmost importance and will maintain your strict mindset of being cautious and sensible with your betting. Online casino bankroll management. Limiting what you spend during each session will allow you to withstand the variance that is involved with casino betting.
An important thing to keep in mind about progressive jackpots is that they don’t become “due”. The chances of winning are astronomically small no matter how large the jackpot has gotten. It’s possible for a jackpot to grow large enough that a bet on a particular slots game will be a positive expectation bet, but it’s not a practical opportunity to win. A 1 in a million shot is still a 1 in a million shot, even if the jackpot is up to $2 million.
Online Progressive Jackpots
With the rise of online casinos, progressive jackpots on the Internet have become just as popular as the games in actual land-based casinos. Microgaming is one Internet casino provider which has established its fame and reputation based largely on its large assortment of fun, colorful, and relatively loose progressive jackpot games.
Online progressives work just like their land-based cousins. Every wager you make on your computer feeds a tiny amount into the progressive jackpot for that game. Since lots of players are now gambling from the comfort of their homes, these jackpots can become just as large and life-changing as the progressives in Vegas or Atlantic City.
Most Popular Progressive Games
Megabucks is one of the most popular progressive networks available. The probability of winning this jackpot has been estimated at 1 in 50 million. The amounts won on this machine vary from $10 million into the hundreds of millions. Like many lottery games, Megabucks is paid out as an annuity over 25 years.
Wheel of Fortune is a popular brand of slot machine, and it’s available in multiple denominations. One of the most common versions is the quarter version, which has a starting jackpot of $200,000. The jackpot on this game has gotten close to $2 million in the past, but it’s usually won when it’s still under $1 million.
The dollar version of Wheel of Fortune progressives starts with a $1 million jackpot. It’s not unusual for the game to reach $5 million or more, and it’s almost reach $10 million on occasion. Like Megabucks, this jackpot is paid out as an annuity over time.
Elvis isn’t just the king of rock and roll. He’s also a symbol of classic Vegas, so it’s entirely appropriate that he has a progressive slot machine network named after him. The game starts with a $100,000 jackpot, and it costs 25 cents per spin. Keep in mind that to be eligible for the jackpot, you have to make the max bet, which is 3 coins, or 75 cents. We don’t recommend playing progressive slots without making the max bet, because you usually won’t be eligible for the top prize unless you do.
Mega Moolah is an online-only progressive jackpot available at Internet casinos powered by Microgaming software. Multiple games feature the brand name, and the jackpots and betting limits vary. This progressive network features some of the largest jackpots online, often reaching $1 million or more.
Most people look at the vast array of casino slot machines and assume they are all alike. They see a handle, a coin slot, flashing lights and figure one is as good as another. However, in making this assumption, they fail to see a lot of valuable information to help determine if they should play a particular slot machine.
Surprisingly perhaps, machines aren't all the same. The best way to separate one from another is to learn how to “read” a machine by looking at the payout schedule on the front. Let’s see what information can be found on a typical slot machine.
$100 Slot Machine Jackpot Videos
Casinos here in the U.S. and abroad keep several types of slot machines in play at any given time. A few you'll most often see:
How Often Do Slot Machines Pay Out Jackpots Cash
Multiplier: This machine has a payout for a certain symbol and the number of coins played multiplies it. If the machine pays 5 coins for three lemons when you play one coin, it would pay 10 for the second coin and 15 for three coins played. This machine does not penalize you for not playing maximum coins. If you plan to play only one coin at a time, this is the type of machine you should look for.
Bonus Multiplier: This machine operates like the multiplier but offers a bonus when you play maximum coins and hit the jackpot. Three 7’s may pay 1,000 for one coin, 2,000 for two coins and 10,000 for maximum coins. The central question is whether the bonus is worth playing the extra coin.
Multiple Payline: These machines have more than one line of play. Each coin activates a particular line. If you hit a winner on a line that is not activated, you will not receive anything. The older machines used to have three lines but the newer video slots can have up to nine lines.
How Often Do Slot Machines Pay Out Jackpots Against
Buy-a-Pay: These are the most misunderstood machines in the casino. Each coin activates a different payout. You need the maximum coins to receive the largest jackpot.
One example is the Sizzlin' 7s machines. This machine will pay on cherries, bars, and sevens. The sevens pay 1,000 coins. If you play one coin you collect only on the cherries. If you play two coins you collect on cherries and bars.
Three coins are required to collect on the Sizzlin' 7s. If you hit the jackpot with one coin in you will not win anything -- do not play this machine under any circumstances unless you are playing the maximum coins.
Progressive Slots: The progressive slots take a certain percentage of the money played and add it to a pool for the top jackpot.
How Often Do Slot Machines Pay Out Jackpots Money
First and foremost, It is never wise to play a progressive machine with less than the maximum coins -- stories abound of people losing out on lesser progressive jackpots because of short coin play.
Some casinos link machines together within their own facility to offer mini-progressive jackpots.
Megabucks and Quarter Mania are examples of machines from several casinos linked together to offer 'life-changing jackpots'. It's important to keep in mind that payback percentage on lesser wins is lowered to allow for these jackpots.
All of the information you need is posted on the front of each slot machine. Before sitting down to play, taking a minute to “read” the machine will help make you more knowledgeable in determining which machines may be best suited for you.
Until next time, remember:
'Luck comes and goes..Knowledge Stays Forever.'