How online jackpots work?

How online jackpots work? Do people actually win big money?

Technology

Jackpot is so common a thing that it has become a part of common parlance, typically used to mean any big win. With online casinos increasing in popularity, numbers of people playing jackpot worldwide have also increased exponentially. Online jackpots, despite the reservations of many, offers a chance to win life-changing amounts of money in one go. For example, you can now easily play the ₹27 billion American Powerball jackpot from the comforts of your own home. It can be said that throughout the history of casinos, there have been many incidents where people have won extraordinary amounts of money at a jackpot.

How online jackpots work?

But before investing a whole lot of money on jackpots, it is important to the nitty-gritty of the game. Just as there are some tips you should know before online shopping, you should also be aware of the various tips available in the case of the jackpot. There are many types of slot machines available and without a thorough knowledge of these, it might be difficult to get the best out of this gamble. It is important to identify which games offer jackpot winnings, as not all casino-based games offer jackpots. One can play several casino jackpot games at SevenJackpots.com.

Four basic types of jackpots are available both in the offline and the online versions and it is important to do some basic research about these to maximize chances of winning.

Local Jackpot

This is the most basic form of jackpot where the players pool in their money at a certain casino, be it online or offline. The more the number of players, the more is the contribution towards the prize. Therefore, if there are more people joining the game, as long as no one hits the jackpot, the prize only grows. However, in the context of the other jackpots that are available, this is a fairly small one, as the prize money is dependent on the number of players joining the game.

This prize of a local jackpot will only be available in that online casino. This means that the prize of a local jackpot is much smaller than the next jackpot we’re going to discuss.

Network Jackpot

This type of jackpot refers to those which considers the bets placed by players throughout every possible casino site, offering the same game. A good and popular example of network casino would-be Hall of Gods by NetEnt. All the beta from the different casinos is considered and added to a single jackpot to be won by a single player, who can play from either of the casino sites. Since the contribution here is on a wider scale with multiple casinos being involved, these are the jackpots where the most money can be won.

Fixed Jackpot

As is quite evident from the name, this is a type of jackpot game, where the prize is already fixed and thus remains unchanged by the number of people playing it or the number of bets placed. This provides users with a chance to for sure win a fixed amount of money.

Progressive Jackpot

Progressive jackpots are probably the most common when it comes to online jackpots and also the one where the player has the most chances of winning a huge amount at a go. Progressive jackpots as the name suggest offering a progressive prize, where the prize grows every time a player who is a part of the network makes a bet. These are difficult to win but is widely popular in the arena of online jackpot-based Casino games.

It is a gross misconception that there is no money to be won at online jackpots and it’s all a big scam. While it is necessary that you choose to play on an online casino that is verified and has the proper approvals, it has hardly resulted in people having to lose money due to scam and fraud on genuine casinos.

If so happen that no one wins the jackpot for some time. This will result in the jackpot growing more and more as more bets are placed. For e.g., there has been no Powerball winner yet, in 2020 and has grown to 373 million USD. If then you win a jackpot, the next important step is to verify the win. This is somewhat time-consuming as the process includes checking the records in order to prevent issues like violation of the terms and conditions, fraudulent activities or abuse of the system. After this is done, the winner is congratulated by the casino and then it’s time for pay-out. It is mandatory that one reads the terms and conditions of the website before playing in order to ensure that the payment method, which may be different for different websites is according to one’s convenience.

Leave a Reply

Your email address will not be published. Required fields are marked *