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Progressive Slot Jackpots
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Biggest Slot Jackpots and How You Can Win Them
In the beginning, there were no progressive machines. This only became possible in early 1980s, when microchips were added to the machines.
Even so, it was not until March, 1986, that first multi site linked jackpot machines were introduced by slot manufacturer, IGT.
Having the same jackpot being fed from a number of different machines (which were often spread across a number of different casinos) meant substantial jackpots could quickly grow to be very huge.
It is documented in some Las Vegas casinos, where organized players in a network extending all the way to Reno,
have won over $8 million, in a single win, on a giant machine.
How Jackpots Work
They grow bigger, progressively, by skimming an amount of money from each and every unit bet. This means that payout rates on normal wins is lower than that of a regular slots machine. Yet, if you take progressive into account, the payout will be same.
For example, You are playing in a Las Vegas linked slot machine with a fixed $5 bet per spin. Your money could be divided as follows; 25 cents added to jack pot, $1.25 goes to the facility and remaining $3.50 is paid out in non jack pot wins.
If you were playing a regular slots game at that same establishment, it is most likely your money would be divided as follows: $1.25 to facility, and $3.75 paid out on wins.
Above example assumes facility has a 75% payout rate. In reality, machines at land based casinos typically have payout rates ranging from 70% up to 87%.
This is in stark contrast to casinos, which typically have payout rates from 89% up to as much as 99.5%!
So, a typical establishment with a 95% pay out rate; reveals money one pays in for a $5 per spin jack pot slots would be divided up something like this:
$0.25 for facility, $0.25 added to jack pot and the remaining $4.50 is paid out in other winnings.
Given statistics, it is easy to see why so many hard core gamers are now playing from computers.
Progressive Jackpots Are Growng!
Apart from missing free drinks, playing seems more favorable to a player ( because you be gettiing more winners, more often).
We have already covered how large jack pots can grow at land based casinos, so just how large are jackpots at casinos?
The answer is that they are growing at all time rates. Current record is $1.76 million. Interestingly enough, exact same slot machine that paid that out in December 2005 currently has a purse of over $3.6 Million and still rising!
When this progressive cash prize pot is eventually won, it is going to set a new record for being the biggest payout winner of any facility to date.
There is little doubt that even after that has been won, another newer record will be set within a space of less than a year.
The rate at which giant jackpots are growing is amazing. Only a couple of years ago an amount of a little over $1 million held the record.
It is now anticipated that sometime within the next couple of years, the highest jack pots will be paid out from Internet casinos.
So How Do You Pick a Winner?
Choosing which slot machine to play is really not all that complicated. Once you know what amount has been reached, that will be a starting point.
Obviously once the pot in question is higher than its historical average the chances of it paying out are greatly increased, and if it goes higher than its previous highest payout your chances are further increased again.
If you are chasing biggest jackpots, do not play games just after a previous big jack pot has been won. Instead, wait until after that games historical average payout has been passed for best chance of winning big.
OR, do like my Aunt Betty, who once loved a country club Tennis Pro simply because he had pretty legs. Instead of taking a sleeping pill late at night after hours of tossing and turning, just turn on your desk top or laptop,
and go here to find the loosest payouts on the Internet.
No, she did not hit the big one, but neither did she overdose on sleeping pills.
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