What is a 'Pooled Jackpot'?
A pooled jackpot is simply a jackpot on a slot machine
which can rise to very large amounts because money from many different slot machines is being channelled into the same prize pool. This means that, whereas before people could win no more than a few hundred pounds, slot machine players can now win thousands, and even millions.
'Pooled Jackpot' Explained
Everyone is familiar with jackpots
; they are either encountered when playing the lottery, or when playing on slot machines. However, over recent years, a new type of slot machine has strolled into town and this machine offers gamblers the chance to win a pooled jackpot.Machines that offer a pooled jackpot are, not surprisingly, more popular than normal slot machines, also known as local slot machines. This enthusiasm among gamblers is completely understandable, especially when taking into account the fact that companies have paid out individual pooled jackpots
totalling more than $7,000,000 (€7,000,000).Players can constantly monitor the pooled jackpot by looking at what is known as a progressive ticker
. This is similar to a ticking clock, although it doesn't display the time, it displays cold, hard cash. The progressive ticker is found just above the slot machine reel
and the pooled jackpot total will return to zero if a player on one of the other machines is lucky enough to scoop the prize.A technological revolution has been taking the gambling world by storm and the pooled jackpot is one of the results of this storm. People are now even more enthused about putting their money into slot machines, especially given the fact that they could win millions in prize money. This trend looks set to continue in future and with more people now using the internet to gamble, pooled jackpots are also set to increase.