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Do You Know Your Jackpots?
By Shane Addinall Jun 03, 2019 IndustryDo you know the differences between Progressive Jackpots, Daily Races, Fixed Jackpots and even a Daily Drop timed jackpot? Join as we dig into the jackpot potential of each!As an online casino fan, or potentially a newcomer to the wonderful world of online gambling, there is often a lot of talk about the potential for hitting it big, winning that elusive jackpot but as the industry has matured a lot has evolved even the humble jackpot.
As casino providers have stretched both their imaginations and the limits of the available technology the term “jackpot” can now be tied to several different offerings:
progressive jackpot Slots
The King of all Jackpots is by far still the classic Progressive Jackpot. What makes this jackpot interesting is that it is a randomly triggered network jackpot. As players spin the reels across a network of online venues a few cents is taken from each stake and added to the prize pool which can climb to astronomical values.
Microgaming is known for reigning in this category with their Mega Moolah Progressive Jackpot payout of €18,915,872.81 in 2018 being the biggest recorded win at any online casino. They also hold the current Guinness World Records title for “Largest Jackpot Payout In An Online Slot Machine Game” with an approved 2015 payout of €17,879,645.12! Once officially confirmed the 2018 jackpot will supplant this one as the official title holder!
Recent progressive jackpots also offer several different jackpot sizes as seen on Fugaso slots. They offer Mini, Midi and Maxi jackpots to their players which allows everyone to have a go at being a winner!!
✓Progressive Jackpot Table Games
A much later inclusion into the realm of the classic Progressive Jackpot was its inclusion in various table games as can be seen by taking a look at the Playtech selection of jackpot games. The basic premise is the same with a percentage of each stake being added to a growing jackpot prize pool which can be won at any time.
Given the speed of play and the limited number of players on table games, compared to that of slots players, table game progressives tend to accumulate a little slower and offer smaller jackpots. That being said the Progressive versions of games like Let It Ride have been known to reach prize pools in excess of €400,000, while Blazing 7’s Blackjack has climbed as high as €700,000!
✓Industry-First: Timed Jackpots
Red Tiger made headline news in the online casino industry by innovating on the Progressive Jackpot with their industry-first timed jackpots! The aptly named Daily Drop jackpots are fairly simple, as players enjoy the various networked slots linked to the progressive payout the prize pool grows, however, in this instance the jackpot will be paid out before a set time each day.
To add to the excitement the payout time is publicly available when playing the slot machine. The tickers for the Daily Drop jackpots host a countdown timer that proclaims, “Must Pay Before” and a time that ticks down second by second.
If the jackpot is won early within any given 24 hour round it will reset and be available to be won a second time within the original timeframe.
✓Jackpot Race
Habanero offers their slots patrons an unusual spin on the progressive jackpot which they’ve termed a Jackpot Race! Much like a limited time progressive this feature sees a jackpot prize pool being topped up by taking a percentage of the stakes-placed on the slot.
Like the timed jackpot, this ticker shows when the Race Phase will begin. This phase of gameplay will only last 5 minutes at the end of the Race Phase a lucky spin will trigger the jackpot however it is not only the winning spin who is awarded a payout.
The 100% of the available jackpot prize pool is awarded as follows:
- The winning spin = 50%
- The two players who bet nearest the winning spin = 15% each (30% total)
- The four players who bet nearest the previous two = 5% each (20% total)
While there is a time limit on the duration of these jackpots there is no ceiling on the potential value, the more players who participate the higher the progressive prize pool will climb!
✓Fixed Jackpots
Fixed jackpots have become more prevalent of late, and they look very much like progressive jackpots. They usually come in several mimicking the look and layout of many true progressive jackpots. However, these slots are in fact merely Fixed jackpots which offer players a predetermined multiplier of their bet as the jackpot prize. In some cases, this can be as high as 1000x your bet or more making the jackpots win a viable windfall.
While these jackpots will never really compete with multi-million Euro payouts of a true progressive there is the benefit of the payouts being based on the more friendly RTP of that particular slot which can see them being won by several players whereas a progressive win would drain the available jackpot pool until it is refilled.
Now You Know
As you can see the online gambling niche has come a long way from offering blackjack and video poker with new and exciting online and mobile games being added every month, and operators even testing the limits of what can be done with something as seemingly simple as a jackpot.
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