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When it comes to winning big at the online casinos, nothing beats the progressive jackpots, nothing! If you've ever patronized an internet casino before you have certainly seen the large amounts those jackpots can reach - some popular progressive slots have gone almost as high as 10 million pounds. All this money end up at the pocket of a lad (or lass) ho bets only a couple of quid at most. With such amazing return, no wonder that the progressive video slots are the most popular feature of the online casinos.
But how does such a large sum accumulate and how can a casino afford to pay so much money? How can you be sure that if you win a few million pounds the casino will have the money (or the desire) to pay you your winnings? Does anyone really wins the jackpot, or is it just a ploy to entice gamblers to the casino? To answer these questions, we must look at how the progressive jackpot works, starting at the basics.
We have all seen the progressive jackpot, whether at a land-based casino or one on the internet - tied to a specific slot machine (or table game, depending on the jackpot), it's basically a large number that constantly rises, often by a certain increment at a give time. That's the easy part, the one anyone can see. What happens behind the scenes is rather different what most people expect. First and foremost, the progressive jackpot is not a casino-specific feature. That is, that particular video slot is part of a network of the same slots across many online casinos. All the punters playing that video slot, across all the online casinos offering the jackpot slot machine - all of them are vying for the same progressive jackpot at the same time. Which brings us to the main point - the progressive jackpot is not offered by the casino, but by the gaming software developer (for example, NetEnt). The developer of the casino software is the one maintaining and actually paying the progressive jackpot, the online casinos simply participate in the network by paying out a certain percentage of every spin to the pot of the jackpot. When someone finally wins - the software developer pays out the full jackpot pot, therefore even though the player wins insane amount of money at the online casino, the casino itself loses nothing, other than the money contributed to the pot, which the casino never had in the first place.
Obviously, there is no risk to the player or the casino, when they win the progressive jackpot. The money have already been set aside with a third party, which pays out the huge winnings to the lucky player. That's why it doesn't really matter which casino you choose to try your luck at winning progressive jackpot, any casino which participates in the network, i.e. each casino that offers software from that developer, will give you the chance to win the jackpot. Of course, the bigger the jackpot, the smaller your chances of winning, as more people will be playing the slot at any given time. It also means that for a jackpot to become so big - it's not won as often as video slots with smaller (in the thousands) jackpots, who are often won weekly or even daily. It is also the reason why video slots with progressive jackpots always have a set bet per spin, which the player cannot change, unlike with regular slots. This way the casino knows exactly its contribution to the pot for each spin of the virtual reels and the software developer knows exactly by how much to increase the jackpot amount after each spin.
As you can see, going for the progressive jackpot is both a great way to win large amounts while betting very little and the payout of the jackpot is safe and secure with the fact that there is no risk to the online casino going bankrupt by having to pay millions of pounds. So next time you are feeling extremely lucky - give the progressive jackpot a try.
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