The Many Types of Jackpots
Jackpots, or prizes, for various games of chance are the cornerstones
of the games. How they are paid out is determined by the game played
and the rules for payout on winning games. Many types of games and
payout methods exist, therefore, jackpots vary widely. Educating one’s
self on the various types of payouts can only enhance the chances of
winning any game that may offer a jackpot.
The most common type of payout is the progressive jackpot. With this
type of game, as more games are played, the amount of the jackpot
increases. It will continue to increase until someone wins the jackpot.
At that point it will be reset to the minimum payout. Everyone can play
again and build up the jackpot for the next winner.
Based on progressive jackpots, connected jackpots
are common on electric or digital games. The game will be connected to a
network within the casino. With more players playing each time, the
jackpot grows. Finally, someone will win and the jackpot will go to that
person. The jackpot will be reset and everyone can play again.
Connected progressive jackpots can be found online that are national
or worldwide. With such wide participation, the jackpots can grow
immensely. The same system works, but on a much larger level. Internet
gaming has changed the face of these jackpots forever. Winning or losing
huge amounts of money on the internet can be dangerous, so be wary!
Non progressive jackpots function differently. These games will pay
out a predetermined amount for winning combinations based on a payout
schedule. It won’t matter if more people play or if more games are
played. These are certainly less popular than progressive jackpots,
which offer much higher jackpot payout amounts.
Many games offer these types of payouts. Online games like poker and
slot machines offer progressive jackpots that are played by millions
daily. Lottery games such as the Mega Millions or Power Ball get bigger
and bigger as the weeks pass until some lucky player gets several
hundred million in prize money from some jackpots. Many lottery jackpots
range in the tens of millions of dollars.
Other types of games, especially traditional slots
and bingo, offer set amounts as prizes based on which game type is
played. Traditional slots will pay only a certain amount for three
cherries, or three lemons, no matter how many times you play.
Knowing which games offer which payouts helps gamers to choose wisely
which game they shall play. Playing without knowing the rules can be
costly. However, earning jackpots through wise playing can be rewarding
and lucrative. Pay attention to the game rules and payout rules for the jackpot prize involved in any game played.