Everyone knows how a traditional slot works. You place a bet, spin, and exact a pay-out depending on the symbol combinations. But slots of a progressive nature are somewhat different in that the jackpot size increases with every wager placed. Every time someone spins without winning the jackpot, it grows. Though this system was founded in traditional casinos, one would agree that they are better suited to the online platform where the number of people playing is considerably higher.
A brief history
The first progressive slot machine was invented by IGT back in 1986. The network was linked via modems to link different casino lines together. To market the game, IGT put up the starting million dollars for the jackpot and every subsequent wager that was placed went to fatten the jackpot. The first winner came out a year later when a player won almost 5 million dollars.
Online progressive slots
Online casinos didn’t appear on the grid until 1994, and it wasn’t until 1997 that the technology became sophisticated enough to allow for the emergence of progressive slot online. It was Microgaming that was at the helm of this development and created the first progressive slot – Cash Splash. Since then there has been a monumental rise in the number of such slots but Cash Splash still remains the leader with almost 600 jackpots won since its release.
Progressive slot types
Technology has allowed for the emergence of different types of slots. These are as follows:
This is the largest jackpot that deals in millions. Of course, this also means that the jackpots is rarely struck.
This type of jackpot may not pay as much as the previous one, but it pays out much more frequently. Players can expect jackpots limited to only tens of thousands.
The lower the jackpot, the more commonly it is paid out. Players can expect no more than a few thousands in currency.
Biggest Progressive Slot Winners
At the moment, the biggest jackpot stands at $21 million won by a player spinning the reel no more than 50 times with 75 cent bets. For security purposes, the name of the player is left out. Other notable wins recorded are as follows:
- 11 million dollars won on Mega Fortune in 2011 by a Norwegian.
- 13 million dollars won on Mega Moolah in 2015 by a Briton.
- 17 million dollars won on Mega Fortune in 2013 by a Finnish.
The high jackpot amount dealt by progressive slots is one of the main reasons why they are so lucrative and enticing. It is almost impossible to calculate the odds on a slot, owing to multiple variables such as different RTPs, slot formats, and varying bet size. It should also be noted that the biggest jackpots are reserved for those who place the maximum bets on the spins. Smaller bets only add up to the pot without giving you the chance to get your hands on it.
One important factor to keep in mind is that casino operators have a cashout limit. There is nothing more frustrating than winning a jackpot only to later find out that the casino won’t let you cash it out in full. Therefore, it behoves you to know the pay-out policies of the casino. Such casinos as Best slots are a good place to play progressive slots.
Progressive slots could be seen as the lottery of the casino world. Winning chances are slim, anyone can play, and at any given time you are up against thousands or even millions of avid gamblers like you vying for the jackpot. Someone invariably ends up winning the jackpot and when one does, it is a life altering event.