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Progressive jackpots are a popular feature of many casino games that offer lucrative prizes. They are the main reason for many people to play, pursuing a win that can change their lives in a heartbeat.
The truth, however, is that progressive jackpots are really hard to hit. The vast majority of the people playing casino games won’t experience such a big win ever. But how often do progressive jackpots hit? Can you even calculate that properly?
I try to provide the answers to these questions in this post. I’ve included my best estimates, as well as more useful information that will help you understand what to expect when it comes to progressive casino jackpots.
How Progressive Jackpots Work
Progressive jackpots are a special type of payout featured in games that you can play online or at land-based casinos. Winning a progressive jackpot is usually a random probability with every spin/round, and when it goes unclaimed, the jackpot typically increases in value.
Any time you make a bet on a progressive slot or another game with a jackpot, a portion of it goes toward the grand prize. The sum total of the jackpot is accurately measured as you play the game, and it can be taken from multiple slots at once.
Multiple people are playing the same progressive slot (e.g., Mega Moolah). Each player is contributing to the cumulative value of the jackpot, which often exceeds $1 million. Many progressive jackpots are also connected via multiple online casinos.
Once someone claims a progressive jackpot, it’ll “seed” (i.e., completely reset). The more popular progressive slots won’t reseed to 0, but their jackpots will start from a certain amount instead. The biggest ones begin at a million dollars.
How Often Progressive Jackpots Hit
I tend to view progressive jackpots as an unsolvable math equation. Vegas-style slot games follow RNG (Random Number Generator) mechanics, which makes them very unpredictable. There’s no guarantee that a progressive jackpot will hit at any given moment.
You can encounter situations where 10,000 spins will go by without someone winning a jackpot. However, when progressive jackpots are hot, you could win big prizes within a few spins.
Ultimately, the game will pay out its average when you measure the spins in higher volumes. For most jackpot titles, you can expect a win from once in 50 million to once in 600 million spins.
Average times between jackpot wins can also vary according to the game you’re playing. For example, Microgaming’s Major Millions pays out every six weeks on average, whereas Blueprint’s Jackpot King typically pays out every two years.
How Big Can Progressive Jackpots Get?
Progressive jackpots can become astronomically high, offering top prizes that are worth millions of dollars. When popular slot games are made accessible to players across multiple online casinos, the progressive jackpots will begin to soar.
When progressive jackpots go unclaimed for quite some time, it’ll attract the attention of players. In many cases, the longer the jackpot goes unclaimed, the quicker it increases in value.
In September 2018, an anonymous Android smartphone user won a progressive jackpot of $22.3 million by playing Mega Moolah. He took home the lucrative prize in less than 50 spins with 75-cent stakes.
That’s not the first time Mega Moolah changed players’ lives. In 2015, a British soldier set the record (at the time) by winning more than $21 million with a bankroll of 33 cents. The highest amount won before that was $20.5 million p on Mega Fortune.
I also want to mention that payouts via online slots are well below the total prize money claimed at land-based casinos. In 2003, a software engineer won over $38 million playing Megabuck slots at the Excalibur Hotel and Casino in Las Vegas. He only spent $3 on his winning spin.
As you can see, the prizes can be outrageous. There are plenty of smaller wins too, and people win six-figured prizes fairly often. You can always check our list of best progressive jackpots online if you want to select exciting games with a big prize.
Must-Hit Progressive Jackpots
“Must-hit” progressive jackpots are a little different, because it’s easier to tell when they’re about to hit. Some can’t exceed a certain number by default. Once a must-hit progressive jackpot reaches its top value, that means it’s also close to hitting.
Hot drop jackpots are another example of must-hit progressive jackpots. They offer players more opportunities to claim lucrative prizes by timing their runs.
You’re given a specific timeframe to win the jackpot once it reaches a certain level. That brings a lot of thrill to the game, and a higher opportunity to claim a life-changing prize.
Slot games with hot drop jackpots will also notify you when your likelihood of winning the jackpot increases. They always carry the possibility of paying out a lucrative prize, and the more you play, the more you’ll improve your chances of winning big.
Best Casinos for Jackpots
The best online casinos offer you many different options where progressive jackpots are viable to win. You’ll discover online slots and other popular games that offer huge prizes
This is only one of the reasons to give them a go. They also offer excellent bonuses, a large variety of exciting games, and rewarding promotions for loyal customers.
