Today, jackpots in online casinos have become a widespread offer to attract players. It is especially often used in slots.
According to statistics, slot machines, especially progressives, take a leading position in the list of the most popular gambling games in every crypto slots casino. Progressive slot machines attract thousands of players around the world, not only because they’re fun to test your luck from time to time but also because the jackpot payouts are huge. Jackpot winnings can reach millions of dollars – certainly enough motivation to throw in a fiver to break the bank, right?
But how exactly do slots pay out? Let’s check this out in our article. So without further ado, let’s get started!
Progressive Slots
Progressive slot machines have a jackpot that gradually increases as you play. These can be individual slots where the jackpot increases on just one slot or networked slots where the jackpot increases on all slots in the network.
If a user gets a winning combination on a slot machine, they hit the jackpot. If none of the players gets such a combination, the prize fund only increases.
The cumulative jackpot is topped up by all bets, regardless of their size. Thus, the more users play progressive jackpot games, spinning the reels in the slot, the greater the reward awaits the lucky recipient at a winning combination. However, it is true that to qualify for the jackpot, it is often necessary to put the maximum amount.
Jackpot Counter
The jackpot counter is an important piece of information that all progressive slots have. It shows players the current size of the prize pool in real-time. This is one of the most powerful advertising tools, based on the psychology of human perception.
Therefore, the counter is usually large in size, designed in a bright color scheme, and placed directly in front of the player’s eyes. As a result, a player is simply fascinated by the opportunity to watch how the size of the prize fund grows while spinning reels of slot machines.
Jackpot counters are also placed not only on the site of the online casino – they are actively used as advertising on thematic information resources and banners.
How Big Can a Jackpot Be?
Progressive jackpots can reach eye-watering levels if a top prize goes unclaimed. Not to mention that the more accessible a slot is, the greater the chance of winning a significant jackpot.
A progressive jackpot that hasn’t been won in a long time is likely to pique the interest of a large number of players. This implies that as the game progresses, the jackpots will rapidly rise.
An anonymous Android device player earned the largest progressive jackpot. In September 2018, he or she staked 75 cents on Mega Moolah and won over $22 million jackpot after only 50 spins.
Progressive Slots Payouts
The most frequented online casinos set daily, weekly, or monthly withdrawal limits, which – depending on the specific operator – may or may not count jackpot winnings in slot machines as exceptions. Because of withdrawal limits, some casinos may not allow players to withdraw their entire jackpot winnings at one time, but the rules and regulations for such situations vary.
The casino can then decide how much money jackpot winners will receive every week or month.
This decision is oftentimes made based on the maximum cash-out limit. This refers to the max amount that players can withdraw in a given time period.
The largest online casinos may allow you to withdraw $100,000 or more per month. Smaller casinos often limit the max weekly withdrawal limit to $2,000 or $3,000.
You obviously should opt for a casino with a high maximum withdrawal limit if you win a big jackpot. However, an even better scenario is when you’re playing progressive games from providers that payout in one lump sum.
To Sum Up
Progressive slots are an amazing opportunity to break a bank. You can turn a tiny bet into a five-, six-, or even seven-figure payout by playing a progressive jackpot. The majority of online casinos categorize their slot machines by type. A casino, for example, might include a dedicated “Jackpot Slots” tab where you can locate all of the progressive jackpot slots in one area.
However, if you wish to play progressive slots, check the casino’s payout terms and conditions to see how quickly you can get your prizes.
