Progressive Jackpot In Slots
Progressive jackpots have appeared in the 1980's with the inception of the microchips into the slot machines. The first linked progressive slots appeared in 1986.
The progressive jackpot is the highest payoff in the gambling game. As a rule, it is present in slots machines and video poker, but lately there have appeared progressive jackpots in blackjack and some other gambling games. The value of the jackpot constantly increases with each bet placed in the machine. The prize continues growing up until somebody wins it. Some casinos even link several machines to form one Progressive jackpot. In case somebody wins it on one machine, it becomes unavailable on the others. But all the best made at all connected slot machines create the sum of this progressive jackpot and its amount usually very high.
It is also important to know, that Progressive jackpot may be created not only by several slot machines, places at one casino, but by the slot machines, which are located at different gambling house (though, all of them usually are the part of one casino group. The more slot machines are involved in this net – the higher progressive jackpot is. The only drawback of this system (the drawback for players, not for the casino owners) is that the chances to win this jackpot are really low.
The main principle of the progressive slot machine is that while the biggest part of the bets put in is paid out, less than a half is kept by a casino, and still there is a part of the bet that is added to the progressive jackpot. For example, in case you are playing a $5 bet machine, each bet, 25 cents are added to the jackpot, while $1.25 is kept by a casino and $3.50 is a payback.
As taken from the example, the casino pays back 75%, however, this may vary from 70% to 87% in land based casinos and 89-99% at online casinos. Information according to the casino payouts is always available at the casinos you play, so when you check it, you will be sure how much chances you have to win a progressive jackpot.
There are no theoretical limits for a progressive jackpot, as it continues growing until won. One of the latest records was over $6 mln. The more bets are made at the slot machine, the longer period of time jackpot has not been hit – the higher it is!