Out of thousands of different slots online, it is usually jackpot slots that get most of the media attention. UK casino and bingo sites promote the stories about huge jackpots being won online. While lotto winnings are the largest in the history, jackpots on slots offer you the highest amount you can win online. In many cases, the sum of the jackpot exceeds five million pounds.
Definition of Jackpot
Jackpot is a collective term for the largest winnings on slots and other real money games. While many of you are convinced that every jackpot grows, as soon as someone bets money on the game, this is not the case. Read our article in order to learn more about the various jackpot slots. It is always beneficial to be well-educated, before you start playing slots for real money. As you seem to be about to set out for a jackpot hunt, you should learn a thing or two about how these jackpots work. We at SirSlot promise you to help you play smarter and, therefore, increase your chances to win great prizes on slots.
Online Slots Jackpots
Let’s get the things rolling with three types of online slots jackpots. These types are, actually, not specific to only slots, so you can use this article for other gambling products, as well.
- Progressive jackpots – the ones that always grows until it is won. The largest jackpots on slots are almost always progressive;
- Fixed jackpots – with the same amount of money to be won, no matter how much money the players have bet on the game;
- Rollover jackpot – the one where the top prize grows in batches. If there is no winner this week, the total sum of jackpot contribution gets moved onto the next week draw or games. This jackpot type is a standard for lotto draws. The same logic can, though, be used for other gambling games, including online slots.
Before you start chasing that progressive slot jackpot, it can be smart to check whether this jackpot is pooled or local. The former ones are provided by several casinos at once, which minimizes the risks, while the latter are exclusive to the online casino of your choice. This means that you have to trust your casino. A general rule here is that you should always trust a site with a UK gambling license if you are from the UK and avoid playing local jackpot slots at all other casinos. If you are from abroad and are allowed to play jackpot slots, Malta and Gibraltar should also be considered.
Progressive Jackpot Slots
When you play jackpot slots, most often you fight for the progressive jackpot. To understand how these progressives work is easy. Every time you bet money on the slot machine, a small percentage of your total bet goes to the pot or, so called, jackpot contribution.
This money is often divided into two parts:
- the one that covers the jackpot start value and
- the one that makes the jackpot amount grow.
In some progressive jackpot slots such as Chili Gold 2 from Lightning Box, you make an additional obligatory jackpot contribution. You can see within the slot the amount of your total bet that covers the jackpot cost. In Chilli Gold 2 you always bet on 40 fixed pay lines. If you choose to play for £1 per spin, £0.20 of your total bet goes to jackpot contribution. The remaining £0.80 is the actual bet per line you make (£0.02 x 40 lines).
A rule of thumb for all progressive jackpot slots is that you have to bet on all lines in order to be eligible for the jackpot win. Most online slots with a jackpot with fixed lines are, though, fixed line slots, which means that you cannot deselect any lines. This makes things a bit easier. Some slot suppliers and casinos online implement further requirements. Players chasing the jackpot can be required to bet a certain amount of money on each spin in order to compete for the progressive jackpot win. In some cases you must play for the maximum amount. The theoretical chances of winning that online jackpot might vary, depending on the bet amount.
There are plenty of methods that the creators of progressive jackpot slots use in order to make you bet more on slots. Sometimes you will have to collect a certain number of symbols within the game, before you get the opportunity to play for the jackpot. This is the case with Mega Fortune, where the jackpot bonus wheel gets activated in a special bonus round. Note, also, that at many casinos online it is impossible to win a progressive slot jackpot when playing for bonus money and/or free spins.
Fixed Jackpot Slots
While the highest jackpot payouts on slots are the progressive jackpots, there is nothing bad at all with winning a fixed jackpot. This type of jackpot is normally smaller, does not grow with time and is easier to win.
Fixed jackpot slots is not about giving you a chance to win those record-breaking jackpots, but rather all about providing you with the realistic opportunity to win a lot of money with just one spin. While huge progressives on a slot are often being won between five and ten times per year, fixed jackpots is something that the online casino players win every day. The slots with this type of jackpot are not as attractive for the players as Mega Moolah, Gladiator Jackpot and Major Millions, but still have a large number of fans. Apart from better chances of winning something big, the advantage of fixed jackpot slots is that you do not have to keep track on current jackpot amount. The prize is always the same.
Many jackpot slots have actually several jackpots within the game. Some of those mix fixed and progressives. This applies to NetEnt jackpot slots Cosmic Fortune, Mega Fortune and the slot that we already mentioned – Chilli Gold 2 from Lightning Box. Each of these different jackpots has its own game, so that the online slots players can distinguish between them, while playing. Mini, Midi and Mega is an example of three names being used in Hall of Gods jackpot slot. While Mega Jackpot tends to be the progressive one, it is common that the two others are fixed jackpots.
Rollover Jackpot Slots
In addition to fixed and progressive jackpots, there is yet another type – the one that seldom occurs in slots. We are talking about a rollover jackpot. It is, perhaps, not that relevant for UK slots players, however we at SirSlot believe that it is important to understand the concept itself.
Lotteries, lotto and some other gambling products make use of rollover jackpots. You have weekly or daily draws. If no one wins, the amount gets forwarded to the next draw. As easy as that. The idea of rollover jackpot can be easily implemented to slots. For example, a casino can choose to increase a jackpot on a slot with £10,000 per day in case it is not being hit.
Unfortunately, as most of the jackpots are the brands of and are owned by large slots suppliers, it is nearly impossible for casinos online to offer something like this. The owners of the jackpot make sure that none of the casinos has better terms for winning their jackpot. The casinos are not developing in-house games and, if they do, it is often still being considered as too expensive and risky to offer own large jackpots. These are the main reasons behind the absence of such rollover jackpot slots in iGaming industry.
Best Jackpot Slots
All good slot suppliers – both from the UK and from abroad – want to offer best jackpot slots to their players. The problem is that there are not many amongst them who actually can afford it. We have covered this topic slightly in the paragraph above. Now it is time to develop the argument. Why are the best slots with jackpot coming from the largest gaming companies? Why are some online casinos not offering any jackpot slots at all? The answer is: risk aversion.
To be able to launch the best jackpot slot machines with the prize amounts that really make a difference, suppliers must be able to cover a certain amount of potential winnings. In order to explain this, we feel that we need to provide you with a short description on how the industry works in terms of jackpots.
It happens rarely that a casino online can afford a slot with a large jackpot. This also applies to slots in general, as it costs a lot of money to produce a high-quality slot. In most cases, the casinos sign deals with slot suppliers and have to conform to certain rules. These slots supplier companies specialize in real money game design and development. Examples of those companies are Bally, Novomatic, Yggdrasil, IGT and Big Time Gaming. They all sell their games to casinos that act as distribution channels for slots. Furthermore, some casinos are platforms that offer cheap casino branding solutions to those smaller market actors that cannot afford a real casino with own license. In this case, casino brands are called white labels and are the acquisition source and the gateway to the casino platform. This is a very simple description of the iGaming industry. The things are, of course, more complex than that. In any way, it should by now be obvious for you that these small casino brands don’t have anything to say when it comes to best jackpot slots. They simply take the best slots they can have and offer it to their customers. Their main focus is on usability of site and on promotions. Instead of developing jackpot slots, they put all their effort into acquisition and retention campaigns.
In order to include the best jackpot slots into their offering, the brands need to sign an additional agreement with the slots suppliers and be ready to take the costs and the risks. This is why some of the most popular jackpot slot machines, such as Mega Fortune Dreams and Arabian Nights from NetEnt, are absent from a number of UK online casinos.
In other words, it is a slot supplier and not a casino per se that offers you a chance to win that giant jackpot. They guarantee you the jackpot payout, which is strictly controlled by licensing authorities. In the UK, this is being overseen by UK Gambling Commission. If the license is good, then not only the casino has to be licensed, but also the slot games themselves. To get a jackpot slot licensed is often a complicated procedure.
As a slot supplier normally receives only between 5 and 20 per cent of total profit from slot machine, it is extremely expensive for a supplier to license their jackpot slots, and to find a right solution for avoiding the risks. The remaining 80-95 per cent get distributed among others in the distribution chain. All of them are craving for the best jackpot slots. Slot suppliers can either acquire a special jackpot insurance or make all the participating casinos contribute to the jackpot on monthly basis. That’s why the jackpot contribution that you pay when you bet on slots is getting saved in a separate virtual account. Later on it is being used for the monthly or quarterly transaction between the supplier and the operator.
The best jackpot slots available online are created by the largest slot suppliers – NetEnt, Playtech and Microgaming. Their slot machines can be played at many online casinos, which means that the risks are spread among several gambling operators. These three companies are not only big enough in order to offer the jackpots, but also seem to have managed to put together a functioning accounting system for their jackpot slots. Being a supplier of slots, you don’t have to have many jackpots available in order to succeed. Some of the smaller suppliers use a smart strategy and offer a jackpot that is connected to multiple slot games at the same time. One of the best examples for this strategy is Stellar Jackpot from Lightning Box.
We have collected an information about the best jackpot slots from various suppliers below:
|Supplier Name||Best Jackpot Slots|
|Playtech||Beach Life, Gladiator Jackpot and Giant Jackpot|
|NetEnt||Hall of Gods, Cosmic Fortune, Mega Fortune series of slots and Arabian Nights|
|Micro Gaming||Mega Moolha and Major Millions|
SirSlot believes that more slot developer companies will start offering great jackpot slots soon. We expect Yggdrasil, ELK, Push Gaming, Play’n Go and Thunderkick to enter the fight for the title as a slot supplier with the best jackpot slots online.