Slot machines reign supreme when it comes to casino gaming. A casual stroll across any casino floor will reveal several machines boasting jackpot payouts of millions of dollars. Their immense popularity has given rise to progressives – slots with jackpots that increase each time the machine is played – which provide big business for casinos but may come with drawbacks; we take a look at 7 facts about progressives here that may surprise you!
Progressive slot machines tend to offer higher house advantages compared to regular ones.
House edges on traditional slot machines typically hover below one percent; however, progressive jackpot slots may offer double that amount or more in house take. This is because progressive jackpots are paid from separate pools of money than what normally makes up game revenue and to encourage players to play them they often offer larger odds for winning the top prize.
2. To win the jackpot on a video progressive slot machine, players must align jackpot symbols to win it.
Video slot progressives feature multiple jackpot levels that may be awarded through different means depending on the game. They could be activated by matching up winning symbols along the center payline, awarded as mystery payouts that leave no indication to the player, or by activating bonus events.
3. Progressive jackpots can be monitored via their machine’s jackpot meter.
Progressive slot machines feature a jackpot meter which is always visible in their display, allowing players to see how it grows with each wager they make. This jackpot size is determined by taking a small percentage out of every bet made; often displayed live to attract player attention. Once won, it resets back down to an initial minimum win amount known as a seed amount.
4. A progressive slot machine’s top jackpot serves more as an insurance policy for the casino than anything else.
Casinos take steps to guard themselves against the risk of jackpot loss by setting up an insurance policy which pays a fixed percentage of each spin to an insurance provider for that game, adding this amount directly into the jackpot meter and once its maximum value has been reached it stops and returns back to its initial seed amount.
5. A casino must possess an adequate number of progressive machines in order to have an actual insurance payout.
Too few progressive slot machines means a casino cannot pay out its jackpot to its players and this can have serious repercussions for itself. Therefore, most casinos limit how many progressive slot machines they will allow on their property; therefore it is wise to always check a casino’s website prior to playing there for current jackpot amounts and jackpot winners.