Introduction to Progressive Slots
Thu 11 May 2017
Progressive slot machines do not have such a long history as traditional slots. This type of slots was introduced at the beginning of 1980’s, when computer technology got more advanced. Computer programming enabled to link a few slots with each other. At this time microchips were introduced into slot machines. Thanks to that the machines could have been controlled by the computer. In 1986 IGT (the machine manufacturer) created the first progressive slot machine.
Progressive slots are linked with each other. The part of money from every bet comes to the jackpot bank. The bank is common for all linked slots. The jackpot increases with every new wager. If the player hits the jackpot, the winning is really high, but normal winnings are a little lower.
In order to explain the rules of dividing casino profits, here is an example of Vegas Casino: If a punter plays with a $10 bet, 50 cents go to the jackpot bank. The casino gets $2.5 as a revenue and the remaining $7 is paid out in normal slot winnings. For comparison with a normal, non–jackpot slot, the incomes would be divided as follows: $2.5 as a casino’s revenue and the remaining $7.5 for the winnings.
The presented example suggests that the payout rate in the mentioned casino is 75%. However, in the great majority of casinos the rate is much higher and amounts to 87%. The average rate is about 80%. The rate is so high thanks to the huge competition in gambling industry. Casinos have to attract players. When playing via the Internet, you may notice that the payout rate is higher and may reach even 99%. Such a good rate is caused by the lack of many expenses, such as: maintaining the land based casino, staff, etc.
Jackpots may reach a really huge amount. Until now, the highest hit jackpot was $1.76 million USD. Some of the progressive slots have a $3 jackpot and that sum is constantly increasing. In online slots it is hard to estimate the jackpot, because there are multiple lines, so the contribution into the jackpot bank is also multiplied.
There are various types of slot machines. You may choose whatever you want depending on our preferences. Although the choice may seem to be hard, there is nothing complicated in it. You have to seek an interesting game you would like to play. Try and get to know something more about the particular game: what is the progressive jackpot at the beginning, what is the average jackpot, and what was the highest jackpot. This information will give you knowledge concerning the chosen progressive slot machine. You can get all the information concerning a particular game on the Internet; try searching with Google or Yahoo. For sure you will find something interesting about slots, especially the slot machine you are going to play.