What is a Jackpot?
A jackpot is typically a large prize fund awarded either randomly or to the highest win. Usually associated with slot machines or video poker, the value of the jackpot increases by a small increment with each game unless the jackpot is won.
In the case of slot machines, multiple machines are normally linked together to create one big progressive jackpot that grows more quickly, thanks to multiple players contributing to the prize pot at the same time.
These progressive jackpots aren’t only found on virtual casino games and slots, they are also regularly used on TV games shows, such as the BBC One show “Pointless”, and in lottery draws.
A jackpot amount is normally prominently displayed on the game that is being played. The jackpot is usually only won by creating a combination with the highest leading to the highest pay-out, such as all five of the highest value symbols matching on a slot machine. Once the jackpot has been won, it should then be reset to zero or a preset minimum.
A progressive jackpot has the added dimension of being a cumulative prize fund that grows with each play on a connected machine, increasing in increments set by the house (casino, bookmaker or betting agent).
This means that the house always keeps their set profit margins, determining a payout of a percentage of the expected profit.
The house may contribute some of the original jackpot amount to attract players, and the idea of a progressive jackpot is still quite novel as only a small percentage of a casino’s machines are likely to run on this format.
Where multiple machines and players contribute to a rising jackpot, the figure is normally shown on bold TV screens, driving players to increase their bets in the hope of cracking the jackpot, which also encourages other gamblers to start playing.