Is there are way you can win $1 million from a bet costing less than $1? Yes, you can. In fact, forget about winning $1 million, you could win over $10 million if you trigger the right progressive jackpot! Online casino gaming is full of opportunities but there are none quite like progressive jackpots. Applied to certain games and worth way more than fixed jackpots, progressive payouts are something special. To explain what why they’re so special and how you can win, here’s our quick guide to the biggest casino jackpots online.
A progressive casino jackpot is a prize that continually increases in value. To put it another way, the jackpot is always progressing. Naturally, there is a point where this progression stops, but it’s only for a brief moment.
Basically, the sum of money on offer increases until someone wins. At this point, the jackpot counter is reset, typically to a minimum (seed) amount. Once the jackpot resets to its seed amount, the counter restarts.
This dynamic is what allows progressive jackpots to reach bankroll-busting amounts. Indeed, when you look at popular jackpot slots such as Mega Moolah and Major Millions, their top prizes are often worth $1 million+.
In fact, thanks to the recent surge of interest in online casino gaming in Canada, it’s not uncommon to see the biggest progressive jackpots top $10 million. Therefore, if you’re looking to get the most bang for your buck, look for casino game with a progressive prizepool.
The mechanics behind progressive jackpots are fairly simple. It all comes down to the concept of communal contributions. Strength in numbers. Put simply, a small percentage of every player’s bet on a certain game goes into a communal prizepool.
This process happens every time someone makes a bet, which is why the money in the pot grows at an exponential rate. But how can everyone play the same game? The answer is networks. One person can play a single jackpot game. It’s just them and the game. This game has its own internal prize board, and the player can set their own betting conditions.
However, in addition to this isolated dynamic, jackpot casino games are linked to a network. For example, Mega Moolah is the world’s top jackpot slot. You play in isolation and have the chance to win fixed prizes. Importantly though, your Mega Moolah is linked to every other Mega Moolah in the world.
Your jackpot contribution goes into the pot that every other Mega Moolah player is connected to. So, while it’s a game in its own right, it’s also part of a network. It’s this network that creates progressive jackpots and, in turn, it’s the reason why you can play in a way that suits you and win big.
All progressive jackpot slots and casino games have the same underlying mechanics i.e. they’re connected to a networked prizepool that every player contributes to. However, recent innovations mean there are slightly different dynamics in play based on the game you’re playing. At our top-rated Canadian casinos, you’ll find the following types of jackpot slot and table game.
The majority of progressive jackpots out there are universal. This means that bets from players across a variety of online casinos go into a single prizepool. Let’s go back to our Mega Moolah example. This game is available at virtually all of the best Canadian online casinos. Therefore, if someone is playing Mega Moolah at LeoVegas and someone else is playing at Casino of Gods, they’re both adding money to the same prizepool.
Also known as onsite progressive jackpots, these prizepools are formed by games linked on a single site. For example, Nomini might have a local jackpot for a slot called Big 500. This means that everyone playing Big 500 on the site will add to the progressive prizepool. However, if someone plays the same game at Genesis Casino, their bet won’t contribute to the local jackpot. Only bets made on Nomini will go into its local prizepool.
In today’s world, something doesn’t have to start out life as a progressive jackpot casino game to become one. Daily drops and timed jackpots are add-ons. This means they’re added to a fixed jackpot game. The progressive prizepools can be universal or local. However, the key point here is that they’re not connected to a specific game. Instead, they’re added to a selection of games.
So, let’s say JackpotCity is running a daily drop promotion. It has selected five games from which a percentage of each player’s bet goes into the prizepool. From there, anyone playing one of those five games can win a special prize. Naturally, these prizes are separate to the game’s main payouts. What’s also interesting is that there are often time limits involved.
For example, a daily drop jackpot has to be won within 24 hours. Similarly, timed jackpots might be triggered every hour. This means the progressive prizepool is divided up accordingly and payouts distributed based on a pre-set schedule.
There a no guarantees when it comes to progressive jackpots, but there are a couple of things you can do to help your cause. The most important casino tip you need to keep in mind at all times is bankroll management. You should never spend more than you can afford. Even if there’s a $10 million jackpot up for grabs, you shouldn’t bust your bankroll trying to win it.
Our advice is to sit down with no more than 5% of your bankroll. In fact, somewhere between 2% and 3% is better. So, if your bankroll is $1,000, the most you should take into a game is $50. From there, each bet should be a small percentage of that $50. This conservative strategy ensures you can ride the highs and lows that come along with playing casino games. And, in theory, the longer you can play, the more chances you’ll have to win a progressive jackpot.
The other tip we’ve got is timing. Daily drops and timed jackpots are designed to hit before certain points. So, let’s say you know a jackpot is set to drop every hour. There’s ten minutes left in the hour and it still hasn’t dropped. Logic suggests you stand a better chance of winning the jackpot at this point than you would at the start of the hour. This isn’t a foolproof strategy, but it’s something else you can add to your arsenal.
Now you know how progressive jackpots work and what you can win, the only thing left is to pick out some popular games. The following are regarded as some of the top progressive jackpot slots and table games in the business.
Try all of these games and more at our recommended online casino sites in Canada.