Don’t tell me you do not know what progressive slots are. They’re what makes playing slots so good in the first place. Listen here – the more you spin the more you can win. Progressive slots are the kind that add a little bit of reward each time a player spins the real.
So, the more you play, the more you lose, the more chances you have to win in the end. It’s what makes spending time and money on slot machines worth it. When a progressive slot machine holds out on giving rewards to players, the end game could be measured in millions. This is enough reason to learn why progressive loss is the most popular among its peers.
What Are Progressive Slots?
What makes a slot machine a progressive one? Well, the reason why it carries this name is because the prize you can get is not a fixed amount of money. It progresses upward after each single bet. There are a few types of progressive slot machines.
Some have a set amount after which they payout. Others do not have any limits. So, if you’re lucky enough to sit at one after numerous bets were made without a positive result you might be in for a treat.
This is what separates progressive from regular slots. In every other aspect, they remain quite similar. But, that’s enough of a difference for the majority of players, as monster prizes waiting at the end of the road can’t be neglected.
With this one simple trick, casinos found a way to earn, and give out prizes to players, but not to lose too much or anything at all themselves. In essence, the players are the ones who are funding the final jackpot. To progress to the biggest prize, the number of bets needs to accumulate to a certain level.
Once the threshold is reached, casinos such as VegasSlotsOnline will gladly pay the lucky winner from the money other players spend.
Vegas Slots Online is a fabulous establishment where you can experience slots like you’re in Las Vegas in person. The top slots you have here will make you feel like you’re playing with a real machine. Players who tested them out claim that the experience is almost identical.
Yes, one man’s bad luck is another one’s jackpot. Whether you’re drawn to the potentially life-changing jackpots of progressive slots or you’re curious about the differences between these and other types, you might find it enlightening to explore classic and modern slots to help decide your next spin.
That’s just the world of online and regular casinos for you. Players are just like flies in this domain, and they can’t stop flocking towards progressive slots.
That’s not too bad, as it’s nice to know that one player helps another to become a millionaire without making the casino take all the goods. It’s a win-win situation when you think about it for both the casino and the player.
How These Slot Machines Work?
While the equation is quite simple, players always want to know more. With progressive slots, it all starts with the contribution. It’s what every player contributes to the final prize. For the majority of slots, there’s a percentage of every bet that goes into the jackpot prize. Usually, we’re talking about 3-5% of every bet depending on the provider and the casino rules.
The next step in line is the jackpot itself. When will you get one, and where does the countdown start? No one would touch a progressive slot if the payout happened on a low amount such as $10 or $20. This is why we have something called a seed amount.
This is the amount of money where the jackpot becomes a possibility. In some casinos, it is as high as $500,000 while other casinos start at smaller sums if you’d call $50,000 a small sum.
The last point in the lifecycle of a progressive jackpot is the prize itself. When a player comes over the set low amount for the jackpot it doesn’t mean that they’ll win immediately. Instead, that’s where the game starts. Even if the bar is set at $50,000 you could easily win $150,000. May progressive slots pay high amounts and also pay them out frequently. And that’s what keeps players engaged over and over again.
To make things even more interesting for you, if you’re a fan of progressive slots here are a few facts that you certainly didn’t know about the progressive slots.
House Edge is Much Higher Compared to Regular Slots
Casinos are not naive establishments. They know that the players are going to play progressive slots and that in the end, they’re going to be rewarded. But of course, they know that not everyone can win so they take their fair share of bets by shifting the hose edge to their advantage more than when you play a standard slot machine. Players don’t care as the prize is just too good to pass on.
All The Money Must be Paid Off
As we already said, a percentage of every bet goes into the sum collected for the big prize. This is what all players love to hear. When one of the lucky ones shits the jackpot, every cent must be paid off. House already took what belongs to it, and the rest needs to be shared with players – at least that one lucky guy.
Mex Bet Equals Jackpot
Progressive slots are not for folks who love to play it safe. Instead, to win the maximum prize you need to bet heavily. There are no prizes for people who bet low amounts. These jackpots are intended for players who have their bets set on max. After all, the prize is too large in progressive slots to be gained through smaller bets. Max out your bets and hope for the best.
There’s a Limit to Progressive Slots
This is where things get interesting. Jackpots with this type of slot machine can go high. Yes, there’s a limit to it, but it’s set so high that you’re going to love it. Some casinos have set this limit at eight figures. So, there’s not too much to think about. You only need to spin those wheels.
Taxes Will be Exempt Automatically
When you win, you win, there’s no arguing. But here’s where casinos have your back. You will receive your prize, but taxes will be taken out before you’re paid out. This is a good thing as it takes that duty from your back. Later on, you will have no issues with authorities.
There’s not too much to ask about progressive slots that we haven’t said already. All that is left is to pick your casinos and start spinning these shiny wheels. Progressive slots are a great way to get rich. Yes, you need to spin them a lot, max your bets, and wait your turn. The reward is worth it, and that’s all we’re going to say this time around.