Progressive Jackpots: Worth a Punt or Best Avoided? (Part 2)

By | March 10, 2020

How Do Progressive Jackpots Work?

With progressive jackpots, at a certain extent, there are absolutely no limitations whatsoever to the size of the prize. The jackpot is determined by combining the contribution of all people play the slot. The more people put money into the slot, the bigger the jackpot prize is.

Some progressive jackpots are limited to one specific slot while others combine across extensive networks of slots from the same brand. In the case of the latter one, it wouldn’t take long for top prizes to reach hundreds of thousands or even millions of pounds. 

Another difference with progressive jackpots lies in the way in which the jackpot is reset to thereabouts after it is collected. After which, it gradually accumulates towards a life-changing sum once again, waiting to be collected by someone with luck on their side.

Why Bigger isn’t Always Better
On one hand, you’d be forgiven for thinking that progressive jackpots are obviously the way to go. If there’s even a very minor chance of walking away with six or seven figures, it’s worth getting a try, right?

With progressive jackpots, the huge sums of cash waiting for grabs are almost irresistible. Besides, somebody at some point in time has to win the jackpot. Hence, you could say that you have just as much chance as any other, which is true to certain extent.

Nonetheless, it’s important to consider the unlikelihood of walking away with such a huge prize. In a statistical sense, you have the same chance of winning the lottery as you win a huge progressive jackpot. With each spin, the odds are stacked against you to the extent that borders to the impossible. As with the lottery, it’s case of trying your luck and accept that you probably aren’t going to win.

As a result, playing progressive jackpots is the same as buying a lottery ticket. Feel free to try your luck from time to time, but don’t invest too heavily in even if you have lots to spare.