Let's face it - we would all love to win a life-changing
progressive jackpot. Most casinos use the allure of their large progressive
jackpots as a major marketing tool. Is it just a clever marketing tactic or are
there people who have actually won these jackpots? Read on to learn more about
the progressive slots.
The History of Progressive Slots
In the early 80's when slot makers started adding advanced
microprocessors to their games they also introduced the idea of progressive
jackpots. That is the idea that a percentage of each bet placed would add to the
top jackpot prize.
The biggest advance of progressive slots came in 1986 when slot
manufacturer IGT introduced the first multi-site linked progressive slot called
Megabucks. The advent of linked jackpots meant that really huge prizes would
accumulate as players from around the country were "donating" to the jackpot
fund.
Linked progressive jackpots are now common place at casinos
online and offline. The first big linked progressive online was Cash Splash
which pays out over $1,000,000 of jackpots regularly.
How Progressive Slots Work
Every time you press the spin button on a progressive game a
percentage of your bet is instantly added to the jackpot. Therefore, the
drawback of progressive slots is the lower payback. Most progressives typically
contribute at least 5% of each bet towards the jackpot. This leaves 95% of and
the casinos still needs a margin. Most progressives therefore have a payback of
around 90% or even? less.
Tips when playing progressive jackpots
Imagine the following scenario. You are playing a five reel
progressives that requires 9 coins to activate all the paylines. You only play,
2 or 3 or even 8 coins and hit the winning combination. You will not win the
jackpot! So, rule no 1: ALWAYS PLAY MAXIMUM BET on progressive
jackpots.
So, to make sure you don't miss out, rather use the max bet
button. That way you will avoid a rather costly mistake.
Are Progressives a waste of money?
No, we believe they are not. Even though statistically their
payout is less, the chance at a massive jackpot is worth a try. However, we
reccomend that you allocate only a portion of your bankroll to playing
progressive slots and stick with it.
The introduction of 5 reel progressives has also brough about
more possible winning combinations, thereby rewarding you with a higher hit
rate. Some of these slots are well worth playing without even considering the
jackpot.
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