What Happens If You Hit A Slot Machine Jackpot
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Areyou looking for booming jackpots from slots? Progressive slots arewhat you are looking for. Progressive machines are some of the mostpopular slots in casinos, as they offer very impressive prizesrunning to millions of dollars. Players flock these machines incasinos as no other games offer such lavish pay-outs.
- For example, let’s say a slot machine has a 95% RTP. This means the game will pay back 95% of its monetary intake over time. The other 5% is the amount the casino wins. Theoretically, if you were to spin the reels 100 times on this machine at $1 per spin, you would end up with $95 left.
- Casinos make “hand pays” when a slot jackpot is $1,200 or more. At Meadows, a shift leader such as Ashmore must get involved when the total reaches $10,000. At $250,000, the slot manager or casino.
- Casinos make “hand pays” when a slot jackpot is $1,200 or more. At Meadows, a shift leader such as Ashmore must get involved when the total reaches $10,000. At $250,000, the slot manager or casino.
- With video slots, the common malfunction is that the machine shows a bunch of credits won, even when the player didn't line up the jackpot symbols. With electro-mechanical (physical-reel) slots it's the opposite: the jackpot symbols line up, but the machine says the player won nothing, or just a small amount.
Weare going to learn what casinos mean when they say progressivemachines, their benefits, and how they work. Read on.
How To Hit A Slot Machine Jackpot
What are Progressive Jackpots?
Progressive jackpots are pay-outs ongambling machines, such as video poker machines and slot machines, incasinos. They are usually marked as progressive machines, so playersmay be aware of that before they sit down to play.
Eachtime the machine is played, the combined jackpot winnings increase bysmall supplements. Used atronic slot machines for sale. The casino sets the small chunks by which thejackpots are increased. On numerous occasions, these machines arelinked so that the total increases faster as multiple players playingat different machines concurrently.
Eachof the slots has a meter that displays the amount of the jackpot andthe winning combinations that are needed. On a slot machine, forexample, you might need five cherries showing to win. Once you havewon the jackpot, the meter resets to the lowest level, and theprocess starts again.
Gamblersusually have to wager the maximum bet per play to qualify for thejackpot winnings. When the maximum is not wagered, the bet will stillcontribute to the jackpot, but the player is not allowed to keep thejackpot winnings should it hit on that play.
The Benefits of Progressive Machines
Thoughcasinos have progressive slot machines to lure players to play, thenumber of machines in the casino are not many. The casino is usuallywilling to make a small contribution to the progressive jackpotwinnings, but the odds always give the casino an edge over theplayers.
Gamblerslove progressive jackpots because if they win, they win big. The sizeof the jackpot can quickly escalate from hundreds to thousands.Players risk their losses by feeding the slot for a chance to hit theprogressive jackpot.
Progressivejackpot machines usually don’t pay out jackpot winnings frequently,because the casino presets the increments. The machine needs to beplayed for a while. The odds of winning faster pay-outs are onprogressive machines are not as good as on regular slot machines.
How Progressive Machines Work
Asalready mentioned, progressive machines are distinct from other slotsbecause their jackpots increase with every bet. The idea behind isquite simple: a small percentage of every bet feeds the pool of cashuntil one player hits the winning combination, which sets off thejackpot pay-out. Logically, the highest jackpots are won on gamesthat have the most top wagers and the most players.
Whena player hits the progressive jackpot, a few things happen. First,the machine locks up, lights flash on and off, and the player isinstructed to call an attendant. The machine then sends an electronicsignal to the control to notify the casino about the win.
Mostof the progressive jackpot winnings are huge. They range from $10,000to $1,000,000. Before the winnings are paid, the casino has to sendsomeone to verify that the machine was operating well when the playerhit the jackpot. The casino must confirm that the win is genuine.
Theplayer who hits the jackpot can either be paid in cash or check. Whenthe winnings are more significant, the pay-outs could be split. Anamount could be paid by check on the day of winning, then the playercan set time, say 60-90 days when they can collect the rest of thejackpot or an annual annuity.
Hereare a few interesting things that you might need to consider beforeinvesting in a progressive jackpot;
- Qualifying- this is one of the most important things that a player needs to learn. This is because not every wager on a progressive machine leads to winning an attractive pay-out.
- Jackpot Meter- the jackpot meter is another essential aspect of progressive machines. When the jackpot has been won, the amount of the highest pay-out resets and goes back to the lowest level from which it started.
- Odds and Expected Return- the odds of hitting the jackpot on a progressive slot are usually very thin, sometimes smaller than winning the lottery. If you remove the jackpot from the calculation, the house edge becomes different.
Who Pays Out the Jackpots?
Smallerpay-outs are paid by the casinos or I-casinos (online casinos). Theseinclude the lower level jackpots.
Inbigger prize pay-outs, the software company is involved, primarilywhen the linked progressives are hosted in multiple locations.
The Biggest Progressive Jackpots in History
Thehighest progressive jackpot ever recoded is $39.7 million. It was wonin the Excalibur Casino, Las Vegas, on one of the most famous slotgames, IGT’s Megabucks. For a very long time, Megabucks was onlyavailable on physical slot machines across many gambling facilitiesaround the globe. This was until recently when IGT added it to aportfolio of online games. Online slots are however, yet to hit suchhigh pay-outs, but they are rapidly gaining popularity and makingpay-outs to more and more players.
Forexample, Mega Moolah is known for the big pay-outs it regularly givesto players across the world. The game is commonly referred to as “TheMillionaire Maker.” In 2015, a British army soldier, J. Heywood,won £13,213,838.68, by placing £0.25 bets on Betway. CanadianMarcus Goodwin won CA$11,633,898 in 2016. A Maori man in New Zealandtook home NZ$10,144,395.82 a few months before that.
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Anotherremarkable pay-out was of €17,861,813 unexpectedly won by ananonymous Finnish man in January 2013 at Paf Casino. The man got theright combination while playing NetEnt’s Mega Fortune. In 2011, aNorwegian student who was trying his luck with free spins won€11,736,228, while playing the same game.
Inmobile jackpots, the highest pay-outs have been at Microgaming’sMega Moolah. On August 28, 2016, a woman hit a jackpot of€7,968,311.26. She was playing the game on her mobile phone. It wasthe most prominent mobile win ever recorded until less than a yearlater in April 2017. A mobile player at Tipico Casino won€8,012,153.35
Conclusion
What Happens If You Hit A Slot Machine Jackpots
Progressivejackpots are very popular as they provide stunning pay-outs. They arepay-outs on gambling machines, like slots and poker machines. Theyare usually marked out in casinos so that players are aware.
Thenumber of progressive machines in casinos are not many. The jackpotswinnings also don’t happen as often because the house sets theincrements. The odds of scooping the progressive jackpot are minimalcompared to other games such as lotteries.
Thecasino pays smaller progressive jackpots while the software companypays larger ones.