Most online slots and casino games offer fixed jackpots where there is a ceiling on the maximum amount players can win at any given time. With slots, this fixed amount can be expressed either as a cash value in the corresponding currency (eg. $50,000, £50,000) or in coins (50,000 coins).
In the second case, the base coin denomination the player has selected determines the cash value of the fixed jackpot in case of a win.
If you land a fixed jackpot of 50,000 coins with a base coin value of 0.10, you will essentially collect 5,000 units in your local currency, be it dollar, euro, or pound.
Respectively, if you play at higher stakes with a base credit denomination of 5.00, your win would increase to 250,000 in the corresponding currency.
This is not the case with progressive jackpots where a small percentage of each bet goes toward the jackpot pool which continues to grow until somebody eventually wins.
The pool is then reset to a base amount called a seed and starts accumulating all over again. The four main types of progressive jackpots include:
TYPES OF PROGRESSIVE JACKPOTS
1. Wide-Area
Wide-area progressive jackpots are shared across a network of multiple casinos that offer games by the same software provider. All networked casinos feed into the jackpot pool, allowing the prizes to escalate to six or seven-digit amounts, sometimes even more.
2. Local
Local progressive jackpots are similar but accumulate across several games, more often slots, linked in a network within a single online casino.
3. Standalone
Standalone progressive jackpots offer more modest prizes since only bets made on a single online slot or casino game contribute to the jackpot pool. While not life-changing, the prizes are still worthwhile as they grow to four or five-figure amounts.
4. Boiling-Point
Boiling-point jackpots typically drop when the progressive prize shoots up to a specific predetermined amount. The Super Jackpot from the recently launched Hot Drop Jackpot series belongs to this category as it must trigger before it reaches $250,000.
5. Time-Based
Time-based progressive jackpots must trigger within a designated timeframe, usually once per hour or before the end of the day. Good examples include Red Tiger’s Hourly and Daily Must Drop Jackpots where the average prizes range from three to five-figure amounts.
