Here at Jackpot Capital online casino, we see this question in many forms pretty much all the time. We think that having the word jackpot in our title makes gamers think that we have the golden ticket to winning a jackpot. The fact is that we are like everyone else when it comes to winning a jackpot: luck plays a huge part in gamers’ success at pursuing a jackpot.
However, we can give you a few tips on how to look at jackpots, what kinds of jackpots to try for, and what might be your best strategy for winning a jackpot.
We will present a list and then get into some details on each line item:
- Maintain sound money management at all times.
- Understand the synergy between the return-to-player rate and volatility.
- Understand that there are different kinds of jackpots.
- Respect the random number generator as the ultimate arbiter in online casino gaming generally.
- Understand that there are hundreds of other great games to play that don’t offer a jackpot.
Now it’s time to delve a bit deeper into the idea of online casino jackpots. Here we have to make one point clear: land-based casinos also offer jackpots. Some of these jackpots work at a land-based casino exactly as they work at Jackpot Capital or other top online casinos. We say that the jackpots work the same, but the games might work somewhat differently, as we will see.
What are the Main Principles of Sound Money Management?
Here we have to divide money management into a few categories:
- Absolute personal honesty about how much money you have and how much you can afford to budget for casino gaming.
- Understand that sound money management “belongs” to everyone, not just you and people like you.
- Putting everything in writing for your own use.
- Making a budget that you can comply with.
- Set a reasonable goal that sound money management will be applied to.
- Understand the importance of time.
- Set a budget that is lower than what you thought you could afford.
We will discuss each of these line items soon.
Return to Player Rate and Volatility
The return to player rate is, generally speaking, the expected percentage of all bets made that will be returned to players. Volatility is how the winnings will be divided among players.
The synergy we spoke about applies mostly to slots. There could be two slots with the same return to player rate, say 97%. One has low volatility, and one has high volatility. In the first slot, more players will share the winnings, and each will win relatively smaller sums. In the latter slot, fewer players will share the winnings, and each will win relatively larger sums.
On the other hand, there is no volatility in blackjack or video poker. With correct play on every hand, the expected return to player rate would be about 99.5%.
The big difference as far as gameplay is concerned between slots and blackjack and video poker is that slots have no built-in strategy while blackjack and video poker are all about the strategy.
Some gamers just want to relax, and for them slots and other games of chance are best. Some gamers want to think about every decision, and for them blackjack and video poker are the best games to play.
If we assume that a gamer will use the best strategy on every hand of video poker and blackjack, then money management is quite simple: you will lose about $5 out of every $1000 you bet. Money management is harder in slots, which is why it is the first item on our list.
There are Different Kinds of Jackpots
Everyone knows about million-dollar progressive jackpots. These are very hard to win, so sound money management and self-control are vital when you decide to play for a big progressive jackpot.
On the other hand, a lot of slots now have random jackpots. These jackpots won’t make you rich, but they could fund a lot of home improvements. Random jackpots work exactly as it sounds: they are entirely random. Some slots have three random jackpots, and some have four. Obviously, the winning jackpots start small and build to a substantial, albeit not life-altering, winning sum.
Random Jackpots Segue into an Appreciation of the Random Number Generator
The random number generator, or RNG, is the decider of all outcomes at an online casino with the single exception of Live Games that are played in a studio with a live dealer or croupier.
The RNG has no memory. It doesn’t know what happened a few seconds earlier. Therefore, there is no strategy for winning at any online game except for the known best strategies for blackjack and video poker.
The RNG also creates winning streaks and losing streaks. The existence of even short losing streaks makes following betting systems a very poor gaming decision. By ignoring losing streaks, following a betting system might cause a gamer to have to make a very unreasonable bet just to win his or her original bet.
The RNG is possibly the single most important aspect of online casino gaming. You cannot game the RNG. That means that all outcomes that are random in theory are also random in fact.
Responsible Gaming Also Means Playing Games That Don’t Offer a Jackpot
Here at Jackpot Capital, we offer over 400 great games. Most do not offer a jackpot. What they all do offer is the fun of playing casino games in the comfort and convenience of a top online casino.
Let’s Return to Sound Money Management
We listed several aspects of good money management. Let’s look into them a bit deeper.
We are looking at money management because, of all the games on offer at an online casino, the games with large jackpots are the ones that gamers are playing when they make poor financial decisions. This means betting too much or playing too long.
The first element in sound money management is absolute honesty in how much money a gamer can afford to earmark for gaming. Most people have no problem making a similar decision when it comes to airline tickets, restaurants, concert tickets, or tickets to sporting events. Even the price of a beer at the stadium falls under the category of “can I really afford this?”
Even Rich People Try to Follow the Principles of Sound Money Management
The renowned economist and general intellectual, Thomas Sowell, once remarked that the people in the top 10% of family wealth often fall out of that rank in the next decade or so. Often, the reason is unsound money management.
Since we are talking about winning big jackpots, we all know stories of a lucky gamer who won millions in a jackpot and lost it all through unsound money management.
Put Everything in Writing
We take a list when we go to the supermarket but, for some reason, people don’t like to put their finances in writing. Doing so would solve a lot of excessive betting practices. You don’t have to give up playing for a progressive jackpot. You just have to keep the cost of doing so in its proper perspective.
Setting a Good Financial Goal and Applying that Goal to a Gaming Budget
Gaming is fun. Setting money aside for investments for the future is also fun. It is fun in a different way, but it is fun nonetheless.
Jackpot Capital wishes that everyone should have fun in the near term and also fun in the long term. Gaming at our excellent online casino provides a lot of fun in the near term with responsible gaming and sound money management.
We also encourage all gamers to follow the principles of sound money management for their own future benefit.
Having said all this, we urge all new gamers to…