Everyone loves to play progressive jackpots slots. Still, we have to keep in its proper perspective our hopes of a massive million dollar plus win. In this article, we will talk about progressive jackpot slots: how the jackpots get so big and what might happen to a player who wins one. Then we’ll give some perspective on those wins.
Actually, you can substitute the name of any casino game for blackjack and it would be true with the exception of high level tournament poker. The winner of the World Series of Poker these days wins many millions of dollars but aside from that tournament, winning progressive jackpot slots is the best way to instant riches at a casino.
In video poker, the big “jackpot” for getting a Royal Flush is 4000 times your bet. Not bad but not a seven figure windfall! The same applies to every game. You can bet a million dollars on one spin at roulette and win 35 million dollars but who can do that? An average slots player can bet the maximum and win millions!
These slots are actually run by the game developers who have wider reach than even Jackpot Capital Online Casino. The game developers take a couple of pennies from every bet that is made on that slot. This feeds the progressive jackpot which can get quite high very quickly.
Some progressive jackpots begin at a cool one million dollars. These are relatively new in the progressive slots field but because of the instant millionaire aspect of them they are among the most popular slots!
Modern progressive jackpots can easily reach several million dollars. There aren’t a great many big winners but those who do win, win very big indeed!
There are two sides to one coin in answering this question. The first is that gamers have to bet the maximum on the winning payline in order to be able to win the progressive jackpot. This actually puts some progressive jackpot slots out of reach of many gamers.
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A progressive slot that has even 30 paylines may be too expensive for most gamers. Of course, you can bet the maximum on some but not all of the paylines. There may be nothing less desirable than to get the five of a kind that you need to win the big jackpot only to not be eligible for it because that payline was one of the paylines you chose not to bet the maximum on in order to conserve funds.
Indeed there is! The solution is simply to budget a handful of spins on a progressive jackpot slot! Instead of playing hours on an expensive slot, many gamers simply take ten spins. If they win, hooray! If they don’t win, oh well, maybe they’ll get lucky next time.
Mobile gaming is perfect for this type of betting on progressive slots. If a gamer decides to play a few spins on their mobile device during the day, thy can then avail themselves of all of the more than 300 other games we offer here at Jackpot Capital.
By their nature, progressive slots have high variance. This means that a few players will win a substantial amount of money but the majority of players will not win. Most players who play progressive slots either don’t know this or do know it but are willing to take the chance of losing some money in return for the chance to win a massive amount of money.
Players who are on a short gaming budget are probably better off looking for slots with low to medium variance. They will win much more often on individual spins and, even though each win will be for relatively less money, in the long run they will come very close to the expected return to player rate that is usually about 97%.
In any slots with low variance and a 97% return to player rate, it takes only a little extra luck to finish a gaming session with a financial win, even a windfall!
There are! The biggest pitfall is suddenly having so much money that a player believes that the money will never run out. Even many millions of dollars can run out if the winner spends, spends, spends without any regard to the possibility that the money could run out.
This has happened quite a few times to big lottery winners. It happens to young athletes who sign contracts at very tender ages for tens of millions of dollars and then a few years later have to sell off a few of their cars to pay basic bills. Lots of cars, private jets, yachts, extravagant living and, even more so, vacationing can deplete millions of dollars quite quickly.
We suggest that even if your win is “only” in the six figure range, you should never quit your job as the result of a big casino win. For one thing, it draws attention to the winner and the attention is the kind of attention we should do our utmost to avoid!
A corollary of not quitting your job is to not tell anyone about the big win with the possible exception of one’s parents if the winner wants to help them financially. Just make sure that they don’t tell anyone!
Don’t sell your modest home in favor of a luxurious home. If you want to move to a better neighborhood, you can either rent for a while or buy something modest. If you decide to move you don’t need to move to the most expensive area. Most urban areas have many fine neighborhoods that won’t draw attention to yourself if you choose to move there.
Nothing should interfere with your having fun gaming. Responsible gaming requires that if you find yourself chasing instant wealth through progressive jackpots to the detriment of having fun gaming, you should give up on the progressive jackpots rather than give up on the fun!
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