How Progressive Jackpots Pay Out

2021-05-21
There are many ways how to attract players to online casinos. Progressive Jackpots are often used to achieve this goal. So, what the Jackpot is? The Jackpot is the maximum possible win in a particular online casino. Slot machines attract players due to this fantastic opportunity to win a lot of money, doing almost nothing – all you need to do is to place certain bets and watch the play. 77Spins Casino invites you to play the best online slots with big max wins, reasonable volatility, high RPT, and huge Jackpots. We want you to enjoy the game and find the best Progressive Jackpots slot for you to gamble.


How Progressive Jackpots Pay Out

There are many ways how to attract players to online casinos. Progressive Jackpots are often used to achieve this goal.

So, what the Jackpot is? The Jackpot is the maximum possible win in a particular online casino. Slot machines attract players due to this fantastic opportunity to win a lot of money, doing almost nothing – all you need to do is to place certain bets and watch the play. 77Spins Casino invites you to play the best online slots with big max wins, reasonable volatility, high RPT, and huge Jackpots. We want you to enjoy the game and find the best Progressive Jackpots slot for you to gamble.

What is the Progressive Jackpot?

A Progressive Jackpot is the biggest amount of money you can win at a casino at one time. If we compare Regular and Progressive Jackpots - Regular Jackpots will be set at a specific amount that always stays the same throughout the game, while Progressive Jackpots are not fixed and the amount will continue to increase with each bet. Meaning, the more players join the game, the bigger Progressive Jackpot gets. Progressive Jackpot increase with each placed bet and can reach extremely huge amounts. If the combination that is responsible for the prize does not fall out in this round, the fund only increases and remains higher for the next rounds of the game. However, to qualify for the Progressive Jackpot, a player is required to place certain bets – and usually, they are high. Unfortunately, you will not be able to set a minimum bet and win enormous sums.

How Progressive Jackpots are calculated?

Unfortunately, there are no strategies to win the maximum amount of money. The random number generator works perfectly at modern online casinos. If your bet was small and you had won the Jackpot, usually you are going to receive a much smaller amount than the prize pool itself – this is outlined in the rules of slots. Therefore, to get the maximum winnings, you usually need to bet quite large amounts of money.

The Progressive Jackpot can be accumulated both in the whole casino or only in one specific slot machine. You need to bear in mind that if the Progressive Jackpot is only for one slot, then it will be smaller, although the chance of winning it will be higher. To win at the online casino, first of all, you need to choose the right casino. This is the first mandatory step which is very important since only the reliable online casino that installs licensed software can pay you large winnings. You should also pay attention to the bet required to participate in the

Progressive Jackpot draw. Often the bet is quite high. To hit the Progressive Jackpot depends only on your luck. There are no other factors here. 77Spins Casino offers a lot of incredible opportunities for you to win big! We are your trustful partner in the world of online gambling. Explore our wide selection of Progressive Jackpot slots
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The maximum size of Progressive Jackpot

Today there are really large payouts in online casinos. There is no maximum size of the Progressive Jackpot since its amount is constantly accumulated until the moment when one (or several) players are very lucky to win it. But is impossible to predict when this happy event is going to take place. As you can imagine, winning the Progressive Jackpot and getting a huge amount of money does not happen very often. There are only a few cases known where an online casino player has managed to win a Progressive Jackpot worth more than a million dollars. Such large payments are very rare, so you do not need to rely on them too much. Enjoy the process of the game and play responsively!

How to win the Progressive Jackpot

We won't tell you a secret if we say that you can only win such a fantastic amount of money by accident. Don't try to use "tricky" strategies to win a Progressive Jackpot. You will not just fail, but you are going to lose a lot more money desperately trying to win. In any licensed online casino, a random number generator is the only one who decides the fate of the Progressive Jackpot. The best mathematicians unsuccessfully tried to calculate the moment when they should enter the game to hit Progressive Jackpot. Unfortunately, that this is impossible, and all of them have failed in their endeavors. 77Spins Casino is always for responsible and fair gameplay. We advise you to treat the game only as entertainment, in order not to become disappointed because of the lack of a solid win. If you play wisely and do not try to make gambling entertainment a source of your regular income, you will be able to spend your leisure time in a positive and good mood. Good luck, be careful and don't become addicted. Visit the Responsible Gaming section at our website, if you feel you have some problems or questions about your gambling habits.

Who pays the Progressive Jackpot?

Just imagine that this lucky day has come and you have on the Progressive Jackpot. Who is going to pay you? There are two options: the prize pool can be stored at an online casino or at the provider itself — one of them is responsible for issuing money to a successful player. It all depends on whether it is a local Jackpot or a network one. The Progressive Jackpot paid by the supplier. Global Progressive Jackpots are stored by the licensed software providers (such famous iGaming leaders as NetEnt, Microgaming, and others). Nowadays official and proven software is used by many online casinos. This feature allows you to collect amounts of several million dollars thanks to deductions from each bet. The fact that a well-known provider is responsible for issuing the prize also gives a guarantee of receiving the money won. However, there may be problems with payments to countries where gambling is prohibited (payments even may be rejected).

Another advantage of such winnings is that they are not going to ruin the online casino itself, the owners of which will only be happy with the sudden luck of one of the players. The company does not lose money by getting all the advertising benefits. This is a win-win situation as everyone remains happy, even the provider, which also gives the winner money not out of their pocket, but from the fund accumulated from the bets of other players. The provider can pay the winnings directly to the player, or transfer them to the account of the casino, which will act as an intermediary. The Progressive Jackpot paid by the casino. Local Progressive Jackpots are accumulated in the online casino itself or a network of connected online casinos. In this case, the winning amounts on different sites can be also very different. The casino pays them to the winner without any participation of the provider in the process.

How to receive the Progressive Jackpot

There are several basic options for how lucky players can receive their jackpot. The method depends on the conditions of the online casino/provider or your personal choice. Instant payment. The winner is offered the opportunity to collect the entire amount at once but will have to take into account tax deductions. For example, in the United States, the minimum federal fee is 25%, excluding the state rate. Payment in installments. Winners can receive the Jackpot in the form of many separate payouts for several decades. The final amount will be more than the instant cash out since taxes are offset by interest accrual. Offer to play again. Many modern online casinos in case of huge winning offer players to participate in additional games. This way a player can increase the prize amount or get a material gift (car, etc.). This is usually happening in situations where the Jackpot consists of virtual money that can only be used for new bets.

Winning the Progressive Jackpot is a dream of absolutely every gamer. Hearing the cherished word, many users feel the increase in the level of adrenaline in the blood. We hope this article helped you to learn as much as possible about Progressive Jackpot slot machines. At 77Spins online casino you can play online slot machines 24/7. The payouts in slots with Progressive Jackpot are fantastic! They allow you to turn a few coins into hundreds of thousands, even millions of EUR!

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