Progressive Jackpot Odds
4/5/2022by admin
Progressive Jackpot Odds Rating: 8,2/10 9856 reviews
The Jackpot King prize is yet another progressive jackpot that offers players another chance to win a larger cash prize. The jackpot pool is linked across multiple games, with 0.50% and 1.00% of your stake from each spin going towards the jackpot prize-pool and reserve jackpot. An estimation of 10% of each dollar bet on a progressive game is added to the jackpot. When the jackpot is won, it returns to its initial value. Progressive slots have 2 jackpots, the primary and secondary jackpot. The primary jackpot is the biggest pot that can be won when a particular winning combo is gotten. Featured Sports. — A gambler who hit a $1.1 million jackpot on a progressive poker game after placing a $5 wager at an Atlantic City casino celebrated his win by offering a. Over President’s Day Weekend, a Monmouth County man showed the best thing to do after becoming a Caesars progressive jackpot winner. Before he left with his after-tax payout on the $1.1 million pot, he spread the love generously.
- Appendices
- Miscellaneous
- External Links
Introduction
I noticed this variation of Bet the Set on April 19, 2013 at the Red Rock casino in Las Vegas. It was dealt from a six-deck game. The bet wins if the player has a pair for his initial two cards, more if they are suited. Unlike the normal Bet the Set, if the player has a pair he has a chance for big wins if the dealer also has a pair of the same rank.
If the player gets a colored four of a kind not only is he paid 250 to 1, but also wins a progressive jackpot. In addition, there are envy bonuses if another player gets a colored four of a kind. The minimum bet to qualify for the jackpot and envy bonuses is $1.
Rules
- The following analysis is based on six decks. I suppose any number could be used.
- If the four cards, consisting of the player's and dealer's initial two cards, consist of a colored four of a kind, then the player's wager shall win 250 to 1, plus the amount in the progressive jackpot.
- Otherwise, if the four cards, consisting of the player's and dealer's initial two cards, consist of a four of a kind of both red and black, then the player's wager shall pay 100 to 1.
- Otherwise, if the player's two cards form a suited pair, then the player's wager shall pay 20 to 1.
- Otherwise, if the player's two cards form a non-suited pair, then the player's wager shall pay 5 to 1.
- Otherwise, the player must have two cards of different ranks, which loses.
- If any player gets a colored four of a kind then every other player at the table who made the Bet the Set wager shall win an envy bonus of $50.
Rack card. Click on either image for a larger version.
Analysis
The following table shows the odds for a six-deck game, before considering the jackpot and envy bonuses. The lower right cell shows a house edge of 27.74%.
Bet the Set — Progressive — Six Decks
| Event | Pays | Combinations | Probability | Return |
|---|---|---|---|---|
| Colored four of a kind | 250 | 77,220 | 0.000033 | 0.008308 |
| Four of a kind | 100 | 751,608 | 0.000323 | 0.032346 |
| Suited pair | 20 | 37,177,920 | 0.016000 | 0.319993 |
| Pair | 5 | 133,840,512 | 0.057599 | 0.287993 |
| Loser | -1 | 2,151,826,560 | 0.926045 | -0.926045 |
| Total | 2,323,673,820 | 1.000000 | -0.277405 |
The following table shows the expected value per each $1,000 in the meter and each additional player by the bet amount. Remember that the progressive and envy bonuses are flat awards, thus the benefit is inversely proportional to bet size.
Value per $1000 in Meter and Additional Players
| Wager | Value per $1000 in Meter | Value per Additional Player |
|---|---|---|
| $1 | 3.323% | 0.166% |
| $5 | 0.665% | 0.033% |
| $10 | 0.332% | 0.017% |
| $25 | 0.133% | 0.007% |
The following table shows the expected value per each $1,000 in the meter and each additional player by the bet amount. Remember that the progressive and envy bonuses are flat awards, thus the benefit is inversely proportional to bet size.
Value per $1000 in Meter and Additional Players
| Wager | Breakeven Point |
|---|---|
| $1 | $8,347.58 |
| $5 | $41,737.88 |
| $10 | $83,475.76 |
| $25 | $208,689.39 |
When I saw this bet on April 20, 2013 the meter was at $7,817.44.
Written by: Michael Shackleford
If you’re looking to win a jackpot that could change your life, then progressive slots are the game to play. Let’s face it—you’ll never win several hundred thousand playing blackjack or roulette. The payouts just aren’t high enough.
The purpose of this page is to provide an explanation of what progressive slots are, how they work, and why you might be interested in playing them. We’ve also included descriptions of some of the more popular progressive jackpots available both online and in traditional brick-and-mortar casinos.
What Is a Progressive Slot, and How Does It Work?
On most slot machines, the jackpot is a fixed amount, but on a progressive game, the jackpot rises as players put coins in the machine and spin the wheels. A tiny percentage of each coin played is used to “feed” the jackpot. There are three types of progressive slot machine games.
Standalone Progressives
A standalone progressive slot machine has a jackpot ticker on the game, but only bets placed on that specific machine feed the jackpot. This was, at one time, the only kind of progressive slot machine game available, but most progressives feature multiple machines that are linked together. Still, so many standalone machines were manufactured that these games are still easily found in casinos throughout the world. Usually the jackpot on the games will be under $10,000.
Local Progressives
Local progressives were the next step in the evolution of this type of game, and they’re still commonly found. These games feature jackpots within a specific casino that are linked. This network can include as few as a dozen or so machines, or it can include a hundred machines—it just depends on the casino. Usually the jackpots available on these games are under $1,000,000, and often they’re under $100,000.
Wide Area Network Progressives
These are some of the most popular casino games on the market today. A wide area network jackpot links slot machines from multiple casinos in the same state. This allows the jackpot to accumulate into astronomical sums of money, often over $1 million and sometimes even over $10 million. The most well-known brand of wide area network progressives are the Megabucks games from IGT, which is the most successful slot machine design company in the world.
How Do You Win a Progressive Jackpot?
No strategy or system can increase your chances of winning a progressive jackpot on a slot machine game. The odds of winning are similar to the odds of winning the lottery, although you get many more chances of winning per hour with a slot machine game than you would get playing a lottery game.
An important thing to keep in mind about progressive jackpots is that they don’t become “due”. The chances of winning are astronomically small no matter how large the jackpot has gotten. It’s possible for a jackpot to grow large enough that a bet on a particular slots game will be a positive expectation bet, but it’s not a practical opportunity to win. A 1 in a million shot is still a 1 in a million shot, even if the jackpot is up to $2 million.
Online Progressive Jackpots
With the rise of online casinos, progressive jackpots on the Internet have become just as popular as the games in actual land-based casinos. Microgaming is one Internet casino provider which has established its fame and reputation based largely on its large assortment of fun, colorful, and relatively loose progressive jackpot games.
Online progressives work just like their land-based cousins. Every wager you make on your computer feeds a tiny amount into the progressive jackpot for that game. Since lots of players are now gambling from the comfort of their homes, these jackpots can become just as large and life-changing as the progressives in Vegas or Atlantic City.
Most Popular Progressive Games
Megabucks is one of the most popular progressive networks available. The probability of winning this jackpot has been estimated at 1 in 50 million. The amounts won on this machine vary from $10 million into the hundreds of millions. Like many lottery games, Megabucks is paid out as an annuity over 25 years.
Wheel of Fortune is a popular brand of slot machine, and it’s available in multiple denominations. One of the most common versions is the quarter version, which has a starting jackpot of $200,000. The jackpot on this game has gotten close to $2 million in the past, but it’s usually won when it’s still under $1 million.
The dollar version of Wheel of Fortune progressives starts with a $1 million jackpot. It’s not unusual for the game to reach $5 million or more, and it’s almost reach $10 million on occasion. Like Megabucks, this jackpot is paid out as an annuity over time.
3 Card Poker Progressive Jackpot Odds
Elvis isn’t just the king of rock and roll. He’s also a symbol of classic Vegas, so it’s entirely appropriate that he has a progressive slot machine network named after him. The game starts with a $100,000 jackpot, and it costs 25 cents per spin. Keep in mind that to be eligible for the jackpot, you have to make the max bet, which is 3 coins, or 75 cents. We don’t recommend playing progressive slots without making the max bet, because you usually won’t be eligible for the top prize unless you do.
Progressive Jackpot Odds Today
Mega Moolah is an online-only progressive jackpot available at Internet casinos powered by Microgaming software. Multiple games feature the brand name, and the jackpots and betting limits vary. This progressive network features some of the largest jackpots online, often reaching $1 million or more.
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