What is a Progressive Jackpot and How Does It Work?

September 24

Generally, progressive jackpots are jackpots that increase whenever a player plays the game. However, if you check https://rocketplay.com/categories/jackpot, you’ll learn that the increase doesn’t guarantee winning. Like other betting options, playing these jackpots hands players a handful of opportunities to become winners of various cash prizes, including the chances of winning a huge sum of Canadian dollars off a minimal bet.

While the progressive jackpot gets bigger whenever a player plays, it may sometimes be difficult for a player to win. As the gameplay continues, the prize continues to rise until a lucky player gets the pot. A small fraction of the wager is pulled back into the jackpot. The chances of the jackpots increasing and getting bigger become brighter when many jackpots are linked.

Meanwhile, once there is a winner, the progressive jackpot goes back to a predetermined value to start all over again. The more wager a player places on a jackpot, the lower the returns that they get. However, fixed jackpot slots feature with a huge payout.

If you’re looking for online progressive slots that come with a high payout percentage, you will need to play in the top-ranked online casinos. You won’t get huge payouts on poorly performing casino sites. Additionally, high performing casinos make their payout almost instantly,

Why You Should and Shouldn’t Wager on Progressive Jackpot

There are reasons why you should play progressive jackpot slots. There are also reasons you should be wary of them. Either way, you can win a life-changing sum in a progressive jackpot; it can also be a reverse experience.

Let’s look at the following pros and cons of progressive jackpots.

Pros 

  • Potential to win a huge sum
  • High volatility.

Cons 

  • Only available in top casinos
  • Lower rate of return
  • Not many winning options.

Top 5 Highest Performing Progressive Jackpot Casinos in Canada

  • Spin Casino 

At Spin Casino, players can win millions of bucks in a wide variety of progressive jackpots and slot titles. In addition, the casino supports players to make payments through multiple banking options, including MasterCard, Visa, Flexepin, Insta Debit, Paysafe, MuchBetter, and many others. It offers a $1000-worth bonus.

  • Royal Vegas

This is one of the leading casinos in Canada. As one of the top mobile casino, Royal Vegas offers millions of dollars for players to grab. It also features some of the best jackpots and titles in the industry, including Major Millions, King Cashalot, and Mega Moolah.

What’s more, it also offers a $1200 bonus with multiple banking options for players to play around with. We have Flexepin, PaySafe, Insta Debit, neoSurf, Debit, Ecopayz, and others.

  • Betway Casino

Betway is one of the highest-performing progressive jackpot casinos in Canada. With an incredible $1800 bonus and record-breaking Mega Moolah jackpot of €17 million stats, Betway offers players multiple payment options. You can wager on a wide range of progressive jackpots through Visa, MasterCard, Debit, Insta Debit, eCheck, Paysafe, and more.

  • Jackpot City

Jackpot City comes with a $1600 bonus and allows players to choose from some of the best performing progressive games and slot titles on the market. The games are powered by Microgaming and a few other reputable software providers. It supports payment via Paysafe, echeck, EcoPayz, Insta Debit, Neosurf, Neteller, and more.

  • Leo Vegas

Leo Vegas is a well-known casino in Canada with incredible records. Offering $1000 plus 200 free spins, this casino allows players to deposit and withdraw via MasterCard, Visa, Paysafe, and MuchBetter. There are other lesser-known options available. Besides, it offers the best Microgaming-powered progressive jackpot titles such as Arabian Nights, Mega Fortune, and Mega Moolah.

A Few Tips to be a Progressive Jackpot Winner 

A random number generator is responsible for determining the result of a progressive jackpot and due to this, it’s unfortunate that no secret strategy will increase winning odds. It is, however, important to pay maximum attention to the prize pots for different slots, as well as ignoring recently won slots.

  • Sticking to a budget during any gameplay is important, even before you begin to play. This will help you avoid the risk of betting excessively.
  • To qualify for the jackpot, place enough bets since you will find some progressive jackpots with a minimum bet. Ensure to place enough bets to be eligible, however, stick to the first tip mentioned; a budget.
  • Changes in bet may occur depending on why you are playing, whether for one big win, or multiple smaller wins. Deciding on your winning type before placing a bet is important. Smaller wins at several times can sometimes be lucrative.
  • Make findings on the game you want to play and how to play it. Ensure you understand the rules of the slot game and about-to-drop jackpot because no player will be enthusiastic about putting more money on a machine that just paid out a huge sum on winnings.
  • Determining the slot’s volatility to see how risky playing certain games can be. Volatility is based on your expectations to win and how often you will win.

Progressive Jackpot Payments

While many large jackpots are fond of paying winners in annual installments and can even extend to a period of ten years or more, a winner can promptly get certain prizes, such as Microgaming’s Mega Moolah in a one lump sum.

As a small sum winner, you will immediately receive your winnings in your casino account. If you win a larger amount of money, especially a record-breaking sum, you may be paid through bank transfer, in-person, or even by courier within a few days. The casino may however request you pose with a check.

Types of Jackpots

As a real money casino player, you may be provided with four different jackpot types. Each jackpot will help figure out the jackpot’s payout frequency, including the contribution of a player to the pot prize.

  • Fixed: Just as the name implies, this jackpot decides the amount before gameplay and remains unchanged throughout the gameplay. That is, the number of players playing or other factors will not cause it to change or fluctuate. The fixed jackpot is also referred to as a cash pot jackpot.
  • Progressive: This type of jackpot diverts a small percentage of the player’s money into the prize pot whenever he plays. However, the jackpot can rise quickly since different games are contributing to the prize pot.
  • Local: Players who play at the same casino in this jackpot get their bets pooled together y this jackpot. It sometimes works like a raffle; be at an event, buy your ticket, and claim your prize in person if you win.
  • Network: This type of jackpot can be compared to a national lottery where players place their bets throughout several casinos, ending in the same prize pot. The winner can, however, emerge from anywhere.

FAQs

  • What do I Need to Win at Slot Machines?

There’s no shortcut to winning at slot machines. All you need is to be self-determined, coupled with luck

  • Are Progressive Slots Available?

Yes, they are. However, you can only win coins but not real money to further enjoy playing. This will help you understand how it works better before showing commitment.

  • Is Progressive Jackpot better than Standard Slots? 

For players who are enthusiastic about winning a huge sum, a progressive jackpot has all you need, while standard slots only pay tens of thousands. You can get more than 5 million Canadian dollars with a progressive jackpot.

Conclusion

While there is a massive chance of winning big in progressive slots, it is important to play according to budget to avoid excess loss. Here’s the thing you must know about winning in progressive jackpot casinos: players have a scanty chance (if any) of increasing their jackpot-winning probabilities. This is because the jackpots are randomly designed and based on luck.


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