How Do Progressive Slots Work?

Let’s answer that question by going deeper into these casino games. Together, let’s examine the model that allows for such large winnings to be possible.

The Contribution – Progressive Slot Machines

A tiny amount of every wager you place goes to a separate pot to fund the jackpot. Let’s say you play any Red Tiger slot with the Daily Jackpots feature. Therefore, about 3% of your bet goes toward the jackpot pool. On the other hand, IGT’s MegaJackpots take around 2.3 percent of your bet to fun the jackpot prize.

The Seed – Online Progressive Jackpot

Have you ever asked yourself what happens when someone wins the jackpot prize? Also, why does the jackpot do not begin at zero?

Well, the answer is pretty simple and obvious. No one will play a slot machine with a prize of $0 or $10, right? Therefore, progressive jackpots have to begin somewhere and that somewhere is called the seed amount. The casino or game supplier guarantees the “seed” amount. For instance, the prize pool for IGT’s Mega Jackpots™ is seeding at £500,000.

The Prize

Also, a jackpot prize continues to grow in size as more players play the game. And it does not stop until someone wins the progressive jackpot. In addition, the multi-million-dollar progressive jackpots get all the attention. Yet, progressive jackpot slots come in all shapes and sizes. Some slots have their progressive jackpots of less than a thousand dollars.

Moreover, IGT’s Mega Jackpots games pay out an average price of $846,000, with a jackpot win occurring every 10 weeks.

What Are The Different Types Of Progressive Slot Machines?

Since its introduction decades ago, progressive slots continues to evolve significantly. What began as a single-game jackpot has expanded into prizes supported by an entire international network of casinos. Also, the larger the jackpots and the more often people win the jackpot, the more it engages players.

Here are the different types of slot machines with a progressive jackpot found at online casino Singapore.

Game Jackpot Slot Machine

Ozwin’s Jackpots, for example, has its progressive jackpot. The prize pool is still funded by players from several Singapore online casinos.

Network Jackpot Slots

Nowadays, game providers are adding a network-wide jackpot system to their most popular slot games. This allows players to choose from more than 30 different slots and still win the same prize.

Tiered Jackpot Slots

Many progressive slots now include up to four different progressives. Additionally, this ranges from small jackpot pots worth hundreds won every few minutes up to massive rewards worth hundreds of thousands won every few weeks. This adds to the appeal of jackpot bonus games since you’re more likely to win anything while keeping the possibility of the highest prize alive.

Timed Jackpots

With its Daily Jackpots, Red Tiger set the bar for online timed progressives. In addition, they feature small and medium progressive pots that guarantee to payout by a particular time of day.

Standalone Progressives

Because it isn’t connected to a network of other games, this is the most basic type of jackpot slot. Moreover, the prize will only grow if the game is played, not if similar games are played. As a result, jackpot amounts are smaller across the board. A few unique titles with lesser but still significant jackpots are only accessible in land-based casinos.

Local Progressives

Also known as proprietary progressives, these are games that are linked to one another within the same network. Also, a land-based or online casino might have a bunch of games that have been linked to a single jackpot pool. To win the grand prize, you’ll need to be playing one of the games located on the premises of the casino.