Since the dawn of the human race, gambling has been a huge part of our society and entertainment. Throughout the centuries, people have been placing cash on different games, sporting competitions, and various other events, hoping to come out the other end with their money doubled. To satisfy this urge for risk, many businesses have formed, which indulge the habit. Today, in 2022, one of the most popular activities in the gaming world is playing online slots.
The history of slots can be dated back to the late 19th century, when the first slot machine was opened to the public in a small bar. The success of this machine led to the popularization and mass production of fruit machines, which today can be found in casinos the world over. The biggest casinos feature hundreds of these machines, but even the smaller establishments won’t go without at least a couple slots. Thanks to advances made in computer technology, gamblers can now play their favorite game from the comfort of their own home, using the various online casinos that have been popping up recently.
One of the most popular form of online slots is the progressive slot. Some might be unfamiliar with this wonderful game. In this article, we are going to explain everything you need to know about the progressive jackpot.
What Are Progressive Slot Machines?
So, just what are progressive slot machines? Well, oftentimes, the term is used to describe fruit machines that feature the progressive jackpot. Most of you will be familiar with what a jackpot is. It is the highest payout that one can get out of a gambling game. So, as you might have already gathered from the name, a progressive jackpot is a grand prize that increases each time that a game is played. There are a few caveats to remember, however. Namely, the jackpot’s value increases with each game played in which the grand prize is not won. Once the jackpot is actually won, the value of it is reduced back to its original value.
Progressive jackpots are often paired up withhot drop jackpots online. For those who are unaware, a hot drop jackpot, unlike a progressive jackpot, can be won within a given time frame. Once that time frame is over, it is reset. So, by pairing this with a progressive jackpot, players can win a hot drop jackpot whose value increases with each game played, every hour. This is one of the main reasons why progressive slots are so popular among online gamblers.
Progressive Slots Have Some Drawbacks
As with most things that seem too good to be true, progressive slots come with a few drawbacks. One of the most obvious drawback is the fact that just playing the slot game doesn’t mean that you will win the big payout. In fact, it could happen that nobody wins the jackpot. Or, sometimes, it could turn out that you’ve played a bunch of games without winning the jackpot, and just as you give up on trying, a new player comes in and wins the grand prize.
The second drawback, and another pretty obvious one, is that the jackpots are difficult to acquire. The demands for acquiring the jackpot is to activate all of the pay lines. While not impossible, the task is certainly Herculean, as it requires the player beat incredible odds in order to come out on top.
Probability and Chances of Winning
As we have said, the probability for winning the grand prize is quite low. However, it is not always the same, necessarily. Different slots seem to have a different jackpot history. So, when you are playing at different slots, online or offline, try to find out the machine’s history of paying out jackpots.
Many people are under the misconception that when the progressive jackpot is low, that means that it has recently been paid out, and that it won’t be paying out any time soon. This reasoning is somewhat flawed. Of course, when the prize is low, that means that the jackpot has been recently paid out. However, it doesn’t necessarily mean that it will take a long time for the next jackpot to be paid out.
Major Millions is one of the most popular progressive slots online today. The game comes in two different versions; the 5-reel version, which is quite a bit more popular, and the 3-reel version, which still sees quite a bit of popularity and play. Both versions of the game have a max bet price of 3.00 and both feature the progressive jackpot, which we have discussed in this article.
As some might have gathered, the game takes heavy inspiration from military aesthetics, hence the name. It is a 5×3-reel slot with 15 possible paylines. In order to win the maximum payout, you must place the maximum bet and get a winning streak on all 15. Considering the maximum bet is only 3.00, the high reward more than makes up for the high risk. It is for this reason that Major Millions is so spectacularly popular among online gamblers.
How are Slot Machines Regulated?
Like any online betting or gambling website, online slots are regulated by licensing organizations, whose existence is dedicated to ensuring a safer and better experience for the people who like to spin the wheel or roll the dice. Organizations like the Malta Gambling Association or the Great Britain Gambling Commission are dedicated to ensuring that any casino / sportsbook are up to par and work within the boundaries of the law.
So, in this article we have listed everything you need to know about online slots and the progressive jackpot. So, if you are still interested, find some of the most popular gambling websites, make sure that international or local authorities license them, and test your luck against the progressive jackpot slots that are growing in popularity.