What Are The Odds Of Winning A Progressive Jackpot?

If you are here reading about what we have to say, you are probably a slots lover and are playing online slot games. You probably know that some of the online slot games possess a progressive jackpot. But what are the odds of winning a progressive jackpot? This is a question constantly being asked by the slot players, and we have the answer to it.

There are tons of games that offer the progressive jackpot as the maximum prize you can win in the slot. The most famous of them all is Mega Moolah Slot, which is actually written in the Guinness World Record for paying out a jackpot of €17,880,900, but the sums that are won every year by all the progressive jackpots amount only are jaw-dropping.

What Are The Odds Of Winning A Progressive Jackpot?

All progressive jackpots have an odd, and usually the odd is high enough to scare you off. They are a very tempting thing for every casino player and can be found in every online and land-based casino. The games with a progressive jackpot are considered to be the best games you can find on the market. They are fast-paced and usually offer interesting bonus features in their gameplay.

The extremely huge jackpots in the progressive jackpot games come from a money pot which takes 2% of the money that is deposited by all the players in the rest of the slots to create what we see in the jackpots today.

In the early 70s and 80s when technology invented the video slot machines to be linked together through the progressive jackpot for the first time, it meant that all the machines in one floor, in one land-based casino to be linked together, therefore the whole casino would have one big progressive jackpot that could be won through all the machines that were there. The more players played in that particular casino, the larger the progressive jackpot would be, and 2% of every machine, of every play, was going in that pool, however, the progressive jackpot odds were very small.

There is a mathematical formula that actually explains the odds of a progressive jackpot, and it can be counted the following way:

If the slot machine has five reels, each with 20 stops where only one stop is the gives the jackpot symbol, and the whole jackpot can be won on one payline, the formula is 20 x 20 x 20 x 20 x 20, for every stop of each of the five reels. The odds that come out of this are 1 in 3,200,000!

Remember that the odds in the classic games are much lower, as they have three reels and fewer paylines to multiply the odds themselves. However, not all of the classic games have a progressive jackpot, as a matter of fact, very few of them do. Remember that the number of paylines drastically changes the odds of the progressive jackpot.

In the video poker games, the progressive jackpot pays out when a royal flash will land on the screen, and the odds are somewhere around 650,000, which is much lower than the odds of the progressive jackpot of the slot game with five reels that we mentioned above.

When is the best time to play a progressive jackpot?

With this being said, progressive jackpots are exactly like playing the lottery. You need an initial budget and you need a huge slice of good fortune to win this award. You can actually boost your chances based on the data of the slot machine, the time when the last jackpot was won, the amount in the progressive jackpot and we will also include some tips like what budget you should pay with.

Budget

You want to play a slot game and hit the progressive jackpot. Your aim is the largest win that can be taken from the slots. For this to happen, you need to have a budget ready to be invested.

To win a progressive slot jackpot, you need to be playing with the highest denomination that the slot game has. This is different from game to game because of the setup of the game, the range of the denomination and coin value.

After seeing what the game offers, check your budget and determine whether you want to play a high jackpot round or just give the jackpot spin a few times.

Jackpot is Huge

The jackpot is huge, this means people have played the progressive jackpot game or any of the linked games often, with no luck. Usually, this means that the progressive jackpot needs to land soon, as there are also upper limits to how much the jackpot can rise.

The odds of a jackpot are decreasing the more it rises, and as soon as it’s close to the limit, like it or not, it has to land the winning combination on the screen, so this is the best time to play some of the games with a huge progressive jackpot.

Jackpot Hasn’t Been Won For Ages

Similar to the previous statement, the progressive jackpot is huge when it hasn’t been won for ages. This can also mean if the jackpot is smaller, but not a lot of people are playing that particular slot or linked slot games.

The manufacturers quickly shift the odds of the progressive jackpot as they want it to land on a person, increasing their interest and making more people want to play that particular slot.

Overview

So, what are the odds of winning a progressive jackpot? We learned that different slots react differently because of the number of reels, number of paylines, denomination and number of stops that a certain reel has, meaning almost every different slot has different jackpot winning odds, but one thing is certain – it is relatively hard to win the progressive jackpot.

If you want to give it a shot, we have some interesting games that you might like – check them out.