Posts Tagged ‘jackpot casinos’
April 8th, 2009
Online Casino progressive jackpots reach record breaking levels in 2008, and in 2009 they haven't been affected by the credit crunch one little bit! However, how do they get so huge, so fast – and what are the chances of winning?
Progressive jackpot building
Let's imagine that our fictional 'Lucky Magic Progressive Jackpot' has just launched on the Internet, at five online casinos. Now, in casino 1, 10 gamers start playing with 100 spins each at 0.10; the machine takes an average of 1.00 from each gamer, and 50% of the machine's profit goes into the progressive jackpot fund:
That's 1.00 x 10.00 x 0.5 = 5.00 in to the progressive jackpot bank
Now, let's assume that exactly the same thing happens at the other 4 jackpot casinos, leaving us with a jackpot pool of 5 x 5.00 = 25.00.
Now, if we imagine that over the period of a few day the popularity of the progressive jackpot game grows exponentially, so that 1000 gamers are each putting 0.50 into the jackpot fund, you can see how the progressive jackpot can explode:
1000 x 1.00 x 0.5 = 500 per casino (2500.00 jackpot fund).
Of course, if you were to have 50,000 gamers each putting in 0.50 to the jackpot pool, the size of the win fund would rise by a huge 25,000.00 per day, and 175,000.00 per week, and 1.75 million within a month!
This is essentially why progressive online jackpots frequently reach values over 100,000.00 – and often over 1 million. What's more, the best online casinos often use the same jackpot gaming software and games – meaning that each jackpot machine is played by thousands of gamers, taking millions of spins per week. This leverage effect is the most powerful jackpot building concept in existence, and it's why games powered by Microgaming, Playtech and other quality online casino software companies are so cool.
The progressive jackpot chance
Winning a progressive jackpot over £1 million is estimated to have similar odds to winning the lottery, so you do indeed need some serious luck. However, there are potential advantages when it comes to jackpot games compared to lottos:
> Play hundreds of jackpot spins per session
> Spin with small stakes for great value
> First rate intrinsic slot machine entertainment
> Low level payouts and 90% average pay back levels
The best tips for making sure you play smart when playing progressive jackpots are very simple, but nonetheless well worth remembering:
> Set a leisure budget for your jackpot gaming sessions and per week and month
> Activating every pay line gives you more chances to win
> Use a low enough spin value to allow hundreds of jackpot spins
> Play for fun and never chase losses – game with level stakes
> Cross your fingers!
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