Everybody knows that casinos are not among the charity organizations that generously enrich their customers with spectacular winnings. For some reason, in the evenings and at nights (especially on Fridays and weekends), casino/gambling halls where slot machines are located, are overcrowded with professional gamblers in search of success and luck.
And you can’t blame them for it as occasionally gamblers sitting at various slots may hear some exciting phrases like «A roulette player hit an enormous jackpot!» or «Slots’ jackpot hasn’t been won for a long time, which means that you’ve got to start playing right now!»
The desire to «hit» the jackpot is usually a better motivation to start playing slots (or other games) than hope or expectation to win by placing simple bets.
So what’s a jackpot? And what do casino owners need it for? Besides, what are the chances of an average player hitting it?
For traditional casinos, gambling halls, and online casinos, a jackpot is a specially designed system for drawing a winning fund, which is formed by deductions of a certain percentage of each bet made at a gambling table or in a global slot machine system.
The jackpot is drawn according to the set rules:
- Once the fixed amount of the winning casino fund has been accumulated (progressive)
- At certain time intervals.
When the jackpot is being played in modern casinos and gambling halls, it usually triggers an audible alarm and a warning light system, announcing the long-awaited win to the player and everyone around him/her. The amount of the won jackpot is also displayed on plasma panels and running lines of electronic scoreboards placed at all ends of the gaming room. After such light and noise alerts, the passion and excitement of gamblers and the desire of newcomers to start playing dramatically increases. The statistics in the gambling halls confirm this.
Open draws are a great advertisement for gambling establishments as they keep tired customers motivated and attract newcomers. Major jackpot legends are passed on by players by word of mouth, which creates an image of respectability and stability of the gaming establishment.
The situation with the so-called «progressive» jackpot is a bit different but quite interesting. In such a case, a share of each bet forms the jackpot prize pool, which in case of non-delivery is accumulated from draw to draw.
In certain national lotteries, a jackpot that was not hit for a long time creates a storm of emotions and embraces hope. The thrill of the game spreads over almost every family. Huge jackpot amounts hit the news on TV and radio programs. Draws are broadcast on the main channels. The lucky person who hits this large jackpot becomes famous, a kind of a national hero. All cunning journalists raise him/her to the rank of a TV star.
Advertised and hyped up images of «children of fortune» that have won national lotteries, fashionable casinos, or a network of slot machines, create a breeding ground for increased interest in the world of gambling.
This results in an increase both in the number of bets and in the total amount of money played, which is beneficial for gaming institutions’ owners as they get to get back the money used for jackpot payments.
Hitting the jackpot almost always depends on luck. However, certain rules can increase the chances of winning.
1) The greater the jackpot, the less chance of winning it.
This is a simple condition. The more money is played, the more people want it. Only one jackpot and thousands of players who want to get it. The odds of winning the jackpot are inversely proportional to its size. Exponentially.
2) Winning a progressive jackpot is a lot harder than winning a regular one.
It can take a very long time for the progressive jackpot to accumulate. The drawing organizers are genuinely interested in making the amount very large. Drawing such a prize with 6-7 zeros is an excellent advertising and a call to play. That is why the winning conditions are calculated mathematically, which makes winning unlikely.
3) The fewer participants, the better the chances.
When only one player wants to win, he will definitely do it. If two people are playing, the chance of winning is 50/50. And when there are One hundred participants - there’s a 1% chance. You probably got the logic... Play in small establishments with reasonable prize money.
4) Do not play if you are not sure about the reliability of the lottery or casino.
Honesty has always been and still is the main problem of gambling establishments. so we do not recommend you to play in gaming institutions you don’t trust.